Formula One News — March 2002

One has to feel a little sorry for the Ford Motor Company at the moment.

Luca di Montezemolo has told The Financial Times newspaper of his plans to float the Ferrari car company in order to raise money to fund expansion.

The Lucky Strike B.A.R Honda team has announced its latest publicity idea, linking its Formula 1 involvement with the rather more refined and sedate world of art.

Siemens has become a big player in Formula 1 in recent years and the company is now in the process of renegotiating its sponsorship deal with the McLaren team, which ends this year after a very successful five year partnership.

The major creditors of the Kirch organization meet today to decide what to do with the ailing German media company, which controls the commercial rights to the Formula 1 World Championship.

Four of the top teams returned to testing duties on Tuesday in Barcelona, all trying to gain an edge on the rest for the next race in Brazil.

BMW's Dr. Burkhard Goschel has made it clear that the car manufacturers are not going to come to the rescue of Kirch, saying that they "don't have any interest in buying a stake" in the company.

Jaguar will make its way to Barcelona this week to decide if the team will revert to using the R2 again, and continue to develop the R3 with the test team.

Johnny Herbert might not have been able to find a drive in single-seaters in the United States of America but the F1 veteran is still showing his winning ways in sportscar racing.

Having changed its company name from Phoenix Finance Ltd. to D.A.R.T. Grand Prix Team Limited the other day, the buyer of some of Prost Grand Prix's assets has now changed its name back to Phoenix Finance Ltd. again.

The performance of the BAR-Hondas so far this year has been rather less than impressive, despite a lot of positive comments by the drivers about the 2002 chassis.

The King of Malaysia has a very long and complicated name and it is fortunate that no-one had to actually try to use it on Sunday when he was walking on the grid with a crowd of hangers-on in tow.

The Malaysian Minister of Youth and Sport Datuk Hisammuddin Tun Hussein launched Formula Malaysia in January and the first event was held at Sepang on Sunday.

The Malaysian Grand Prix was a success in terms of numbers with 92,000 spectators, about 10% short of the 100,000 people that Sepang had been hoping to see.

Peter Sauber announced after the Malaysian Grand Prix that Jos Verstappen will not be testing for the team in 2002 due to problems fitting the Dutchman in the car.

The Formula 1 team bosses spent 10 hours in meetings at Sepang of Thursday and Friday during which a number of issues were discussed in depth.

The future of D.A.R.T Grand Prix remains clouded at the moment with interest in the subject waning somewhat in the Formula 1 paddock as most of the team owners seem to have written off the project.

The Italian company Fila has agreed a deal with Formula 1 World Champion Michael Schumacher which will see the Ferrari star paid $3m a year simply to wear Fila shoes.

Companies House in London is the institution which registers all the details of British companies.

Phoenix Finance Ltd., the company at the center of the kerfuffle over the assets of Prost Grand Prix, officially changed its name two days ago to become DART Grand Prix Team Ltd.

The BMW Williams team has hired one of Ferrari's top aerodynamic engineers Antonia Terzi.

Within the next few hours the owners of Phoenix Finance Ltd. - whoever they may be - will issue a press statement claiming that despite the ruling of the FIA the organization does own a Formula 1 team and that it has a right to compete in the World Championship.

The news that Mika Hakkinen and Keke Rosberg have ended their longtime management deal is perhaps the best indication yet that Hakkinen will not be returning to Formula 1 in 2003.

Phoenix Finance Ltd. issued a press release in Malaysia suggesting that the company is going to be taking legal action against the FIA in an effort to take the place its claims on the Formula 1 grid.

The German lubricant company Liqui Moly is to return to Formula 1 after an eight-year absence as a sponsor of Jordan Grand Prix for the next two years.