Formula One News — February 2006

Formula One Administration has revealed its financial results for 2004 and, thanks to a one-off payment of $93m from the Interpublic Group to end a contract to promote the British Grand Prix, the company's profits in soared to $447m on a turnover of $705m.

Timo Glock is giving up his career in America to return to European racing with the aim of getting back into F1

It seems that the British Racing Drivers' Club is planning to lease not only the racing circuit but also intends to sub-contract the operational activities at Silverstone as well.

The property development company St Modwen has been explaining its planned involvement at Silverstone, to try to calm fears that the British Racing Drivers' Club will lose control of the track because of a 125-year lease St Modwen will be granted to develop the facility.

FIA President Max Mosley is often accused of playing political games in Formula 1 because he cannot play in real politics. Mosley was made for politics. His father Sir Oswald Mosley was a brilliant man in many ways and Max inherited many of his talents.

The European Union has begun its investigation into whether or not CVC Capital Partners should be allowed to buy control of the Formula One group.

In cowboy movies, things can sometimes get to be too quiet and it has been like that for several months in Formula 1 politics. This was convenient for Max Mosley as it allowed him to get re-elected as FIA President.

Now is the time in Formula 1 to be settling matters and trying to find solutions and there is little doubt that the fastest way to revive the political strife seen in recent years between the current power brokers and the big teams is to propose to create new inequalities in the sport.

Midland F1 MD Colin Kolles says that Scuderia Toro Rosso will break Formula 1 rules if it uses restricted Cosworth V10 engines in 2006. Kolles has obviously not read the rules.

MF1 Racing has announced a two-year partnership agreement with Austrian energy drink company Rhino's. The compan y wants to use the sport to boost its fame and thus increase sales to become the number two to Red Bull by 2008.

It seems that Hockenheim's problems are getting worse every day with news now leaking out that there is a power struggle going on between the circuit managing-director Hans-Jurgen von Glasenapp and the Mayor of Hockenheim Dieter Gummer, who is the chairman of Hockenheim-Ring GmbH.

Valentino Rossi is creating a lot of headlines in Italy where the Italian press is getting excited about the idea of its motorcycling hero becoming a Formula 1 driver. Michael Schumacher has helpfully provided the quotes to suggest that Rossi has what it takes to be in Formula 1.

Over in America, Danica Patrick has shown in the last 12 months just what can be achieved by a woman in the Indy Racing League and the results of that have been seen this week with the announcement that Rahal Letterman Racing has signed sponsorship deals with the grocery store company Meijer and with Coca-Cola.

CSS Stellar Management has announced that it has signed up Tiago Monteiro. The compnay has a long history of driver management notably with Ayrton Senna and Alain Prost, and more recently with drivers such as Juan Pablo Montoya, Dan Wheldon and double World Rally Champion Sebastien Loeb.

MF1 Racing has announced a string of sponsors in the course of the winter months most of them linked to one or other of the drivers involved in the team.

After a winter of rather dull uncertainty with the team refusing to say a deal was done and the driver saying he would certainly be driving, MF1 Racing has finally confirmed Portugal's Tiago Monteiro.

The MF1 Racing team has announced plans for more young drivers to be involved in its projects.

The crisis at Hockenheim seems to be getting worse. According to reports in the local press in Mannheim, there is an investigation going on into the activities of the circuit with the Mannheim offiec of the public prosecution service looking at whether there have been any irregularities.

Being a Formula 1 reporter is the dream of many race fans but it is not an easy thing to do. Having said that Bridgestone has hit on a good idea to help young journalists in their struggles to make it in the big time.

Ferrari has announced that it is restructuring its technical management and says that from March 1 Nicolas Tombazis will be chief designer, reporting to Aldo Costa who will he responsible for Design and development under Technical Director Ross Brawn.

Brazilian influence at Williams has dropped off in recent months with the departure from the team of Antonio Pizzonia but that has not stopped team sponsor Petrobras wanting to use the Williams programmes for its own marketing.

Many governments have tried to ban tobacco sponsorship over the years but Formula 1 has always cleverly dodged the legislation with deals which allowed cross-border advertising to continue.

Giancarlo Fisichella's FMS International GP2 team, a partnership with Coloni Motorsport team will be running 20-year old Luca Filippi for the next two seasons. Filippi drove for the Fisichella in last year's European 3000 Championship last year and has since tested for Minardi.

Valentino Rossi is no slouch in a racing car, but that does not make him a potential World Champion either and the idea that Ferrari would allow the Italian biker to race a car without him having the potential to win races is hard to believe.

Formula 1 boss Max Mosley has been appointed to the Legion d'Honneur for his services to motorsport. The 65-year-old accepted the award from the French foreign minister Philippe Douste-Blazy in Paris last night, which indicates that the award was put forward by that ministry.