Formula one is worth about $8 or $9 billion, as the sport’s owner CVC confirmed it has this week sold a 21 per cent stake to new investors.

News of the sale coincided with the launch of pre-marketing ahead of one of the biggest ever sports floatations, data by the financial experts Thomson Reuters shows.

“It’s cheap compared to Facebook,” chief executive Bernie Ecclestone told reporters on Tuesday, confirming that the Singapore IPO looks set to go ahead soon “with no dramas”.

“All the things that have to happen have happened. It will be finished by the end of June,” the 81-year-old is quoted by the Telegraph.

F1′s new one-fifth owners are US managers Waddell and Reed, the powerful Blackrock and Norway’s central bank Norges.

“It’s a great way to start the IPO and lets investors know what they can expect,” said Ecclestone.

The diminutive Briton said he is keeping his 5.3 per cent stake, and staying in charge. His former wife Slavica controls another 8.5pc, the news agency Bloomberg said.

“You might as well have asked Frank Sinatra who he would appoint to replace him,” Ecclestone insisted.

CVC said in a statement that is remains F1′s biggest and controlling shareholder.

Flavio Briatore could be readying to burst back into formula one.

Germany’s Auto Motor und Sport said the ousted and formerly banned Italian is busily writing regulations for a ‘GP1′ championship.

They could be adopted should the FIA not sign up to the 2013 Concorde Agreement, according to the report.

Apparently, the political rumblings in F1 at present are not limited to the sport’s planned floatation, or Bernie Ecclestone’s spat with Mercedes.

Cost-control is also a buzzword. As reported recently, the vast majority of F1′s teams want the FIA to enshrine cost-cutting in the actual sporting regulations, even to the point of pushing for a once highly-controversial budget cap.

F1 chief executive Ecclestone, however, is not famously close with the FIA’s new president Jean Todt, and according to Auto Motor und Sport he is not convinced that the Paris federation needs to write and control the rules.

Enter Briatore. The German report said Ferrari will be a fan of the former Renault chief’s rumoured regulations, as they steer away from the premium on aerodynamics.

Pirelli stands ready to supply special ‘qualifying tyres’ to formula one teams next year.

With the emphasis of the sport’s spectacle now relying on the complex and heavily degrading control tyres, it was the qualifying session that suffered last weekend in Barcelona.

Arguably to the detriment of Saturday’s spectacle, teams took an exceedingly strategic view of the fight for pole position, with some drivers sitting out the decisive ‘Q3′ runout altogether.

One solution, according to Pirelli’s chairman Marco Tronchetti Provera, is the return of ‘qualifying tyres’.

The proposal has been made following recent criticism, notably by seven time world champion Michael Schumacher, of Pirelli’s 2012 product.

Tronchetti defended his marque’s approach.

“What we have is many competitive cars, which is what the teams wanted — opprtunity for everyone who is able to win,” he told Italian radio Rai GR Parlamento.

“So it’s fine if someone complains. We are available to the teams. We are ready to make qualifying tyres tomorrow.

“But they are choices that are not ours.”

Stefano Domenicali has ruled out responding to Ferrari’s latest crisis with the old ‘rolling heads’ technique.

One perception in the paddock is that the fabled Italian team, under intense pressure from the Tifosi and president Luca di Montezemolo, often reacts by emotionally shedding staff, with Aldo Costa and Chris Dyer the obvious recent examples.

So, having installed new faces including Pat Fry but still struggling with the latest F2012 project, will boss Domenicali set heads rolling again?

“Firing people is the work of two minutes,” he is quoted by Germany’s Auto Bild, “but this would not solve our problem.

“Instead I need to find new people who can improve the organisation and push the engineers to improve the car,” added the Italian.

In the meantime, there is no silver bullet.

“I am not happy with the F2012 project,” he acknowledged.

“But if you want to see the glass half full rather than half empty, then Fernando has done a great damage control and, with an improved car, he at least has the possibility to continue to fight for the championship.

“We have to improve,” Domenicali insisted. “I have asked my people to wake up and respond, and I will no longer hear excuses.”

PRESS CONFERENCE

Kamui, so far this season a couple of good races and a couple not so good. What’s been the difference between them?

Kamui KOBAYASHI: Of course it’s definitely the car. We had quite good performance at the start, quite a good start to the season. Unfortunately, we also some races where the strategy was not really going well. It’s not let’s a bad thing for my season. I had a great start but I think we have to work hard especially on the long runs.

Yesterday, Fernando talked about drivers having more respect for one another. Do you think that’s the case? Should drivers leave more space for each other?

KK: Maybe. I don’t know. It’s always difficult to say.

You’re quite an aggressive overtaker

KK: Yeah, but for me I’m doing something quite normal. It’s not special. I’m just doing my job. Maybe it looks aggressive but I never crash with anyone. I never crash and stop the car. There may be contact but it’s always quite OK. Maybe it looks aggressive but it’s not aggressive in fact.

And of course, you’ve been on the receiving end as we remember from Spa last year.

KK: Spa last year? Where? Ah, with Lewis, you mean? That’s what I mean that was just an accident you know. I didn’t expect both cars to make contact because there was no point. I didn’t expect Lewis to come across and I just stayed on my line. It was just sudden, you know. There was no way to avoid that. That was something special though, it’s not really a racing accident and not aggressive stuff from me, so…

Nico, on paper you’ve been beaten by your team-mate so far this year. How are you feeling about it?

Nico HULKENBERG: Well, the first four races have been quite tough to be honest. I would have liked to take more than two points out of the first four races. We have been quite unfortunate in some races, such as Melbourne, where we had a first-corner incident and there was very little I could do and then a clutch failure issues in Bahrain. These were two races where we potentially could have finished in the points. But I’m looking forward, I’m bedding in well with the team. I think the team is doing a good job in putting everything together and if we get a bit more luck then I think it will be good.

How do you feel about team development? Are the developments coming at a reasonable rate as far as you’re concerned?

NH: Yes, definitely. We bring some new parts, probably like every other team, here and we have to wait and see where the new parts put us but obviously we’re hoping it’s a step forward. I think it is a step forward but just how big a step we’ll see over the next two days.

Pedro, we see a new team that has recently moved to new premises and taken on a lot of new staff. What sort of role do you see yourself playing in the development of Hispania Racing Team?

Pedro DE LA ROSA: As you’ve said, everything is new. We’re establishing ourselves; restructuring the team; we are growing. But really I’m not playing any different role than any other race driver would do. I’m part of the team; I’m a race driver; I’m experienced. If they need my advice on anything, I am there. But I’m not playing any special role other than driving as fast as I can and giving good feedback about the car.

You spent so long at McLaren are you not trying to put some of those influences on the team?

PDLR: Gradually I will. That’s the aim and that’s what I’m here for as well. But so far the team has been extremely busy trying to move into our new premises in Madrid, establish a structure, a ‘basement’ as I say, and after that we will grow gradually and that’s when I think my input will be, if possible, more beneficial. But so far the objective has been clear. We have to establish ourselves, we have to put he ground for building more floors on top of us but so far I’ve been very discreet and not in a very important position.

And where do hope the team will be at the end of the year?

PDLR: I have no idea really. We are improving race by race. We have made the car a lot quicker. Don’t forget at the first grand prix we did not qualify and gradually we have been closing the gap to pole position. That’s what we have to aim for: race by race, closing the gap, making sure that our car is a little bit quicker than it was at the previous grand prix. After that, at the end of the year, we will see. We don’t have to set ourselves any targets other than making the team more competitive race by race.

Kimi, you were plainly a little frustrated that you could have won at Bahrain but didn’t. Is that a true appraisal of your feelings about Bahrain?

Kimi RAIKKONEN: Yeah, I think once you get so close, you’re not happy with second. If you’re 20 seconds behind then it doesn’t really matter but we had a chance but at least for the team it was a good weekend.

You’re a two-time winner here, both from pole position. Do you think a win is possible here? You’ve said you team will be winners at some stage.

KR: Well, the rules are different, so you don’t have to be on pole now to win. We’ll try. I don’t know how it will go. It’s very difficult to say before the weekend starts. The teams are very close. So if everything goes smoothly then we can be up there. But small difficulties in some areas and you’re suddenly much further back. We try to do everything right and then see what happens.

You didn’t test at Mugello as apparently the team hadn’t brought major modification, but for this race have you at least brought modifications that will at least see you maintain where you were at the opening rounds?

KR: We should have some new parts and we’ll see what happens.

Fernando, another winner here in 2006. How did you feel the Ferrari was in testing? Did you feel it was a lot different?

Fernando ALONSO: No, not really. We didn’t have any big improvements in the car, so what we tested were different set-ups and things we missed from winter testing. It’s been quite difficult for us with a lot of problems on the car and not many laps. The Mugello test was to complete what we had left from winter but in terms of improvements, we had minimum changes on the car so it felt the same?

Did that set-up research, as it were, make you feel more comfortable with the car, more competitive?

FA: Well, we’ll see. Obviously we had some ideas in terms of setup and some different possibilities that we were not introducing in the first four races because we didn’t have the opportunity to test them. So, it was good in Mugello: some of them were positive; some of them were negative so it’s good to know. As much information as you have is better preparation for the next grand prix. Obviously we arrive more prepared now than how we arrived in Australia with only three tests in the winter. But to make the car faster I think in terms of setup you cannot find much. If you want to be running at the front it’s more aerodynamic parts and updates in the car. Hopefully they come but we need to wait.

You know this circuit pretty well, you had a very good start to the race last year – do you think we’re going to see more overtaking on the circuit now, what with more KERS and a longer DRS as well?

FA: I think it will be similar to last year, to be honest. I saw some numbers of previous races here. On average like four or five overtaking manoeuvres in the last nine years and last year there were 57 – so it was a big change. The race this year will be similar to last year because of the degradation, the DRS and the KERS. With all the possibilities that we have now, as we had last year, for sure we will see some more overtaking. This changes also a little bit the philosophy of this circuit. As Kimi said, pole position was 60 per cent of the victories, now pole position is obviously the best starting position but it’s not crucial anymore because with this year’s tyres it’s less important.

Sebastian, you broke the mould last year by winning from second on the grid, where you’ve started for the last three years but you won last year from there. This is such a performance track, is this a track where you’re really looking for an indicator for the rest of the first half of the season? If you’re competitive here you will be elsewhere?

Sebastian VETTEL: Well, I think if you are competitive here I think it means that you have been previously. It’s a track that we usually know quite a lot from winter testing, we have some data to compare to, so it’s very familiar. But it doesn’t mean if you are competitive here you are competitive everywhere. Equally, if you are not competitive here it doesn’t mean you will never be competitive. I think it’s similar to other tracks. Really, if you think which sector you’re talking about, which speed range of the cars. I think you have sectors on every track where you could get an indication. As I said, I think it’s the fact that we know a lot about this track, we have a lot of data to compare against, to see if we did a step forward compared to the winter and how big the step was. Surely then you have to consider different temperatures: it’s a different time of year so it’s also difficult to compare black and white – but yeah as a rule of thumb probably this circuit does give you an idea because simply you have all the corners you find somewhere else, you have tight chicanes like in the last sector, hard braking for the hairpin, fast corners like in the first sector. You have a bit of everything.

And yet everyone has been here, everyone knows exactly what sort of setup they would require. Is it perhaps one of the toughest races in that respect?

SV: Yeah it is. But as I said as well, you race here in May, it’s quite different if you look at the temperatures compared to February or March, so yeah, it does have a big change on the setup, so whatever you might have found out over the winter in testing, it might not work in the same way or the same style it did during testing. Also, you need to consider that the cars you launch are quite different to the cars you race at the first race, and then, you know, you race around May or June later in the season. So, yeah, it’s a bit wishy-washy because of that – but overall it’s a track we know fairly well from a driving point of view as we’ve done a lot of laps here. We should know our way around here.

Questions from the floor:

(Alex Popov – RTR TV) Question for Pedro and Fernando, about the Spanish Grand Prix in general because here and there we read about the difficult situation in Valencia, the difficult situation in Barcelona and now we have two grand prix but in the worst situation we will finish with no grand prix at all. Your thoughts about it.

PDLR: I’ve said a lot already since the first time we were told that Spain would have two grands prix, that it was a historical moment and a unique situation and we should be very, very proud of it. I still say the same answer: we still have two grands prix in Spain this year, and we should, all of us, be very proud, very happy and maximise this moment and then wait for the future to tell us what will happen – which is completely out of our hands, you know? This is all I can say. I’m very happy to be here, this is a Spanish Grand Prix, but also a Spanish Grand Prix with a Spanish driver in a Spanish team – so let’s forget about what might happen in the future because, as I said, I have absolutely no control over it.

(Mike Doodson – Honorary) Gentlemen, Michael Schumacher persistently criticises the Pirelli tyres, or at least the policy of Pirelli. To us and the fans it’s clear that Pirelli has been a major ingredient in the improvement of the quality of the racing this year and last year. Do any of you share Michael’s concerns about the tyres or do you think he’s just making excuses for not winning?

FA: I think Seb should answer, being German.

SV: Yeah? I think, y’know, we get a completely different impression inside the car than you might get outside the car. So, you’re always talking of two different worlds. I think for us quality of racing, if you compare racing today, you have to, I think, look after your tyres a lot more than probably you had to three, four, five years ago. For us, if you take, for instance, 2009 where we were allowed to refuel, we had new tyres and the tyres lasted longer, in that they didn’t see that much degradation. It’s a different quality inside the car because you can push nearly every lap similar to qualifying, whereas now I think the racing is different: we fuel the cars up, they are much heavier, and if you have a heavier car there’s more stress for the tyres, so it puts the whole thing in a different window. If you put a new set of tyres on with 20 laps to go, or 15 laps to go, which is, let’s say, the stint length, earlier, a couple of years ago, it’s a different world for the tyres. The tyres do see more degradation and then we start to slide and then one guy slides more than the other because he puts his tyres on two laps earlier. It creates a different type of racing, more overtaking, which I imagine is seen as better quality from the outside, simply because things happen. I think it depends what you really want. We have more overtaking. Fernando is good with numbers, so like Fernando said earlier. I think the races today – over the last two years since we have changed a couple of things – has become much better. Also for us. I had a race here where I was following – how many laps is the race, 66? – I think I was following Felipe [Massa] for 60 laps out of that and I couldn’t pass. Nowadays you know that your chance will come in the race and that’s changing the position inside the car as well.

Fernando…

FA: I don’t know. I agree with Seb but I don’t agree that Michael has continually criticised Pirelli. Michael said one thing and what has been written in the press has maybe exaggerated what he said. I read what he said and I don’t see any big problem with that.

Q: (Livio Oricchio – O Estado de Sao Paulo) Fernando, you have a very different car from this race. Let’s suppose this car does not correspondent to that criteria…

FA: We’ll see, we’ll see after the race, because we don’t know what car we have. Obviously we have new parts, but everybody has new parts. Because it’s Ferrari, there are quite a lot of expectations every race we go to. It seems like only Ferrari is bringing new parts. We have a step forward, we believe, on what we had in Bahrain, but we also know that it’s not the last step we have to do. It’s a continuous work, that we need to start here in Barcelona, making a step forward and try to improve our qualifying position and our race pace, but in Monaco we have to bring new parts. In Canada (we have to) bring new parts. So we will not bring a new car to every race as it seems that we brought here in Barcelona.

Q: (Livio Oricchio – O Estado de Sao Paulo) But just to finish the question: if the car does not correspond…

FA: I answer you on Sunday.

Q: (Livio Oricchio – O Estado de Sao Paulo) Yes, but just to finish: considering your car has completely new ideas, a revolutionary car, do you think this could be the end of the season for Ferrari and you will start thinking about next year’s car?

FA: I don’t think so. I don’t think so. We need to see how the car works here and if it works fine, it will be a good step, the first step of many that we have to do during the next couple of races. If the step is not good enough, because the others improved the same or more than us so we remain in the same position, we need to work harder, for Monaco and for Canada, and bring more new parts in a more aggressive approach or whatever, because the championship is long and we will never give up in May, after four races.

Q: (Livio Orricchio – O Estado de Sao Paulo) Do you think the basis of this car could be used for next year’s car?

FA: I think so. Yes.

Q: (Gary Meenaghan – The National) For all of you: if you look at the drivers in 1992, there were only two non-European countries represented. If you look at the same field twenty years later, this year, there are seven non-European countries represented. Is there a chance that in a few more years, the majority of the drivers will come from outside Europe and how do you think that will impact the sport?

KK: It’s difficult to stay. For drivers I think it’s very difficult, everywhere, Asia especially. I don’t know for the future, but at the moment I don’t know how many Europeans there are now? 17. We have to see. It’s very important for a programme for the development of drivers. I think that this programme is quite weak everywhere. I think for the future, they definitely have to work a lot. It’s very difficult to find how young drivers come to Formula One. I don’t know how it can be changed for the future but I definitely think we have to work on programmes for driver development.

Q: A huge German presence on the grid at the moment, Nico. Can you see that being maintained by a young driver programme in Germany?

NH: Which young driver programme? Is there one? I don’t know. We don’t keep track of that statistic. I think it will always be a good mixture between European and non-European drivers in the future.

Q: (Andy Benson – BBC Sport) To anyone, but Fernando and Sebastian particularly: following the rulings in the two Nico Rosberg incidents in Bahrain – one of which Fernando was involved in – are you clear in terms of what’s allowed and what isn’t when it comes to defending your position?

FA: Yes.

Q: (Andy Benson – BBC Sport) Has your understanding changed between before Bahrain to now?

FA: No, maybe I did…

SV: Fernando made it pretty clear. He said ‘you have to leave the space. All the time you have to leave the space!’

FA: Yes. Yes.

SV: It was clear, no?

FA: As I did last year with Sebastian. In Monza.

Q: (Andy Benson – BBC Sport) That isn’t what happened in Bahrain.

SV: He just thought my car was slimmer.

FA: But you passed. You passed.

SV: I think the rule is clear. You can argue. I think there were two incidents with Nico in Bahrain, one with Fernando and I think Fernando made his point clear afterwards. And with Lewis, and I think Lewis got past, so I think you can talk for hours now, but if you saw the situation in Bahrain, it’s exceptional, because you have a kind of asphalt run-off. Yes, it’s pretty dirty but we always try to go on the limit, the one who is overtaking, the one who is defending. Surely sometimes you need to respect that the guy is there and you need to leave the space. I think if it would have been grass, it would have been a different story. You wouldn’t go there in the first place. In Fernando’s case I think he would have made the same point.

Q: (Carlos Miguel- La Gaceta) Fernando and Pedro, if a fan of Formula One in Spain is thinking about coming here on Sunday, what are your goals for the race? What can you offer to the people?

PdelaR: Well, from our point of view, you know our goal is to fight and to improve from where we left it in Bahrain and that’s all we can offer, we can promise. We cannot promise victories – we leave that for Fernando – but we will promise, wherever we finish, we will do it with the pride of being here and doing a serious job, giving it all, and maximising what we have.

FA: Same thing. And giving 100 percent. We cannot promise anything. This is not a mathematical problem, it’s a sport, we all try to do our best so we will work hard, we will take care of every detail this weekend as we do normally, trying to do a serious job and hopefully finishing in the best position possible, but you cannot promise anything.

Q: (Alan Baldwin – Reuters) Leaving aside whether or not it’s a home race for you guys, how much of a difference does it actually make for you to be back in Europe again? Kimi, you don’t actually like the travelling very much out of Europe, do you?

KR: Yeah but I I arrived in China on the Thursday morning, so arriving for a European race on the Thursday morning is no different really.

PdelaR: I’m biased answering this question because it’s back to Europe, but especially it’s back to Spain, so for us, it’s a Grand Prix that arrives a little bit too early in our development programme, as far as I’m concerned. We have been improving since Australia but we probably need more Grands Prix to offer a more competitive show to our fans. That’s the only downside, but nevertheless, we are here, we are in Spain. It’s our home ground and we are very happy to be here. I’m looking forward to it. I used to live ten minutes away from the track and this is something that – when you grow up – you can always listen to the engines, so the Formula One cars, when you wake up every morning during the weekends – for me it’s a very special event, absolutely.

Q: Kamui, not so easy commuting from Japan.

KK: For sure. I’m used to being here a lot of times. I came to Europe 17 years ago and I’ve been here to Barcelona a lot of times. After long trips being back in Europe in Formula One is always great and it’s always great to see the motorhomes in Barcelona. This is always great and it’s always good to be back in Europe for Formula One.

SV: I think for all of us we’re happy to race in Europe. Surely we have races overseas which we enjoy. For instance, we all love going to Australia. Yes, it’s a long trip but once we are there I think we all enjoy being there and it’s the same here. In the end, I don’t think it makes a difference how long you travel. Yes, it is more convenient if you are only an hour, an hour and a half or two hours on the plane rather than twelve and then another twelve. As I said, I think every country we go to, there is a strong culture for motor sport. We hope for a lot of excitement and for a lot of people to come. It makes us feel very special when we are on the grid, to see that the grandstand is packed and usually around here are a lot of fans, cheering, especially for Fernando and the Spanish drivers, but it’s the same when we go to Silverstone, they’re cheering for their drivers. I think we can be very happy everywhere we go, and hopefully put on a great show so that the people enjoy it as well and they come back next year.

Q: (Alex Popov – RTR TV) Gentlemen, after testing at Mugello, Vitaly Petrov criticised the circuit, because he expressed concern about its safety, so do you think he was wrong to express his concern like this? He was criticised by other drivers, because he expressed concern. Is he wrong?

FA: I think everyone will have his opinion. I’m not someone to say that Vitaly is right or wrong. It’s more maybe the safety commission’s job or whatever. Personally, everyone will have their opinion, as I said. I like Mugello, I like the layout, I like the feelings, the emotions that you have driving there. As I said after the test, driving one lap in Mugello is like driving one hundred at another circuit, for adrenalin and how much you enjoy the lap. We were in Italy, with a lot of Ferrari support. I enjoy those three days testing so much, but in terms of how safe the track was or not, I don’t have the information to give an answer.

NH: Personally I enjoyed Mugello very much. I think it’s a very different circuit to all the others that we go to. You always feel like you’re flying there, a lot of fourth, fifth, sixth gear action which is great to have. Like Fernando said, whether you feel safe or not is a very personal thing. I think it was OK.

KK: That’s a great circuit. There are a lot of very safe circuits like Abu Dhabi without gravel, but this circuit had gravel and if we made a mistake we ended up in the gravel which is good for drivers and good for training and testing. The test was something we had to try and in the race, of course we have to stay on the track and it’s difficult to take a lot of risks but during testing we can take more risks to improve our driving. It’s great for me.

SV: Well, the first time I heard that he was saying something about safety at Mugello. I think we all loved the track because it’s different – like Nico said, there’s a lot of high speed corners. Sure, if the speeds are high, there is higher risk. There is obviously quite a lot of run-off but surely here and there you would like to have more. As long as nothing happens, everything is fine; if something happens… it’s always easy to say something after there’s an incident and say this and that. I think it was not as if we felt we were scared. We left the garage feeling safe. I think if we would race there one day, potentially yes or no, then surely here or there you can argue to make improvements for safety, but I think they did everything they could on the day.

Q: (Vanessa Ruiz – Radio Estado ESPN) Nico mentioned that Mugello is different from every other track that you guys race on in the year so does this very fact make it less useful to have tested there instead of somewhere else?

KK: Difficult. I think maybe it’s not really useful for mechanical stuff but definitely useful for aero development at least, because we can test the aero on the straights. Difficult to see the stability in the corner. Basically I think this was a good test.

SV: I agree. I think it was good to test some parts of the car, not for some others, but like all the other circuits. When we test in Jerez, test in Barcelona, we try different things. I remember in the old days testing in Paul Ricard. Some days we test on the 50s lap circuit because we were testing for Monaco Grand Prix: different tyres and different parts, so every test is welcome for different areas of the car, but it’s good. For people who don’t like Mugello there is a very easy solution.

Montreal has been warned to spend around $15 million on the Circuit Gilles Villeneuve or risk losing the Canadian grand prix.

La Presse reports that Bernie Ecclestone has said only a major redevelopment of the circuit will lead to talks about a new contract beyond 2014.

The report said that, in light of the F1 chief executive’s warning, Montreal mayor Gerald Tremblay has appealed to higher levels of government for the necessary money.

“Negotiations are underway between the three levels of government and the bodies of formula one”, the report said.

Race promoter Francois Dumontier told RDS: “It’s premature to talk about this.

“There are still two years to go on the current contract. We have started talking, but that it’s out now I find excessive. Honestly, I don’t know where it’s come from.”

He added: “Given that the permanent installations of the circuit, including the control tower and the garages, are nearly 25 years old, it is likely that their repair is an important element in the negotiations for an extension to the current agreement.

“But it seems to me to be premature to talk specific sums.”

An obvious tension was evident at Mugello when Pirelli’s Paul Hembery was asked about Michael Schumacher.

The seven time world champion had slammed F1′s official supplier after Bahrain, arguing that the 2012 tyres degrade so quickly it makes driving a grand prix car as slow as a safety car.

“We haven’t spoken,” Briton Hembery is quoted by Germany’s Auto Motor und Sport. “I’ve just read something on the net about the tyres from his teammate Nico Rosberg which is very different.”

Asked if Schumacher’s criticism was irritating, he answered: “We built the tyres the way we were asked to.

“The FIA, Bernie Ecclestone, even the teams wanted it this way. The spokesman for the teams at the time was Ross Brawn, Schumacher’s team boss.

“There have been four different winners in the four races so far, which alone shows that we must have done something right,” Hembery insisted. “As a fan I would be thrilled.”

Asked if he can at least understand Schumacher’s frustration, he continued: “The four winners this year have not won by chance.

“They were absolutely the best drivers in those races and all of them were faster than their teammates.

“I can understand that Michael was frustrated at the last race. Among the four winners so far were two Germans, and then you had Kimi (Raikkonen), who in the fourth race of his comeback is on the podium.

“Racers are winners; they’re not happy unless they’re winning.”

Hembery denied that tyres have, in 2012, become more important than the cars or drivers.

“That’s a misconception,” he insisted. “The driver has a huge impact.

“Anyway I’m convinced that at Silverstone at the latest the teams will have the problem under control. Just as they did last year.”

Finally, he insisted that Pirelli is not going to make any knee-jerk reactions.

“If there are 23 drivers satisfied and only one dissatisfied, then I don’t think we need to change something,” Hembery is quoted by Bild newspaper.

Ferrari’s Fernando Alonso, however, acknowledged a slight frustration.

“For the top teams it’s a bit frustrating,” he told La Stampa newspaper, “when it’s difficult to exploit all your potential.

“It’s like Real Madrid, Barcelona and AC Milan suddenly playing with the budget of Cesena.”

Internet hackers have threatened to wreak havoc as they sided against formula one over the sport’s decision to push ahead with the highly controversial Bahrain grand prix.

The well-known ‘hacktivists’ Anonymous brought down F1′s official website on Friday, slamming Bernie Ecclestone as “evil” and threatening the “worst sh**storm” if the track action continues to proceed this weekend in the troubled island Kingdom.

“Attacks on their (the teams’) computer servers could prevent the race taking place,” the Daily Express newspaper speculated.

Anonymous also took control of another specialist website, posting a statement that accused the sport of supporting the Bahrain government despite the country’s “human rights situation” and saying F1 will now “be punished”.

In an awkward official press conference on Friday, team bosses continued to support the sport’s decision to press ahead with the race.

“Ultimately we’re a race team,” said McLaren and FOTA’s Martin Whitmarsh. “We’re here to go motor racing and that’s our number one priority.”

Monaco has made changes to its famous street circuit in the wake of Sergio Perez’s high-speed crash last year.

Ahead of his debut Monaco race, Mexican Perez lost control of his Sauber on the exit of the tunnel in qualifying, sustaining concussion when he hit the chicane barrier.

Perez sat out the subsequent Canadian grand prix and later admitted it had taken him most of the rest of the season to recover completely.

L’Automobile Club de Monaco, the organisers of the annual race in the Principality, have announced that the severity of the bumps on the approach to the harbour chicane have been carefully reduced ahead of late May’s event.

And the ‘Tecpro’ wall that Perez hit has been moved back by almost 15 metres, the Spanish sports newspaper Marca added.

Engineer Toni Cuquerella assumes, as of today, the role of Technical Director of HRT Formula 1 Team. Cuquerella, besides being at the head of technical development, will continue to exercise his role as the maximum figure of engineering on the track.

Since Geoff Willis left the team in September of 2011, the position of Technical Director has not been occupied. The decision was then made for the development of the F112 to take place at the team’s technical office in Munich, at the hands of Holzer Group and the Chief of Aerodynamics, Stephane Chosse, under the supervision of the, until last February, Technical Coordinator Jacky Eeckelaert.

With the F112 put on the track, it’s now time to work on its development and evolution and so, the naming of a person to lead this project is necessary. And no one better than Toni Cuquerella, with his experience in Formula 1 and his praiseworthy work at the fore of HRT, to take it on.

The appointment of the Spanish engineer at the head of the technical department is a new step in the new management’s desire to centralize and take control of all the activities related to the design and development of the car. This will optimize the coordination of the different departments, helping to meet the set targets, and also rationalize resources.

Toni Cuquerella, Technical Director: “The role of Technical Director implies a great amount of responsibility in terms of coordination and decision making. That’s why I’m very proud that the management considers me to be the most adequate person to carry it out. Until now there was a lot of dispersion from within the technical team and that had its repercussions in the concept and quality of the F112. My priority is to solve the current car’s problems to then develop it to its maximum potential, whilst also unifying and expanding the technical department, but I’m confident that we have a good work base and a clear direction to advance and have a good project for the future”.

Luis Pérez-Sala, Team Principal: “Toni Cuquerella has been a key figure in the team since its inception and, above all, in this new stage. The transition from the previous project to this one hasn’t been easy and a lot of work has been carried out that without vital figures such as him wouldn’t have been possible. The position of Technical Director was vacant and the development of the F112 was carried out at the technical office in Munich. But now, with the car already on the track, it was important to take control and count on someone influential at the head of the technical office. And because of his experience, judgment and knowledge, Toni’s profile fitted in perfectly”.

Profile
Date of birth: 14th of April 1973
Place of birth: Gandia, Spain
Nationality: Spanish

Antonio Cuquerella was born in Gandía, Spain 38 years ago. He did a degree in Mechanical Engineering at the Universidad Politécnica of Valencia.

In 1999 he had his first role as a race engineer for Campos GP at the Open Nissan. After this he worked in various national and international motorsport categories before becoming Chief Engineer of the Toledo WTCC and Leon WTCC projects at SEAT Sport.

In 2006 he arrived in Formula 1 as a race engineer for Super Aguri F1, where he spent two years before moving to BMW Sauber F1 Team, acting in the same role with driver Robert Kubica.

Towards the end of 2009 he decided to take a risk and back Adrián Campos in a project to establish a new Spanish team in Formula 1, becoming the Chief Race Engineer for Campos Meta. Since the team’s first season, Toni has been the Chief Race and Test Engineer and has been a key figure both in the early days and this new stage of HRT and now he assumes an even more important role as the Technical Director.

After all the pre-season hype, the Melbourne paddock banter about its clever F-duct system and a strong showing in qualifying, Mercedes failed to shine in last Sunday’s season opener.
The situation has many paddock regulars confused as to just how good the new W03 really is.

“Good question,” Michael Schumacher told Bild newspaper at an event this week in Malaysia. “We don’t know yet.”

Agreed Finnish commentator and former F1 driver Mika Salo: “It’s going to be interesting.

“Malaysia requires a lot more from a car aerodynamically than does Australia.

“I am sure McLaren will still be at the front, but Red Bull and Mercedes will probably be closer.”

So what happened to Mercedes’ early promise in Australia?

“In the race we had some problems, especially with the tyres — they degraded too quickly,” revealed team boss Ross Brawn.

But for Sepang, “We have an idea about how we can get it under control,” he added.

If that is true, then Sir Jackie Stewart is looking forward to seeing “the old Michael Schumacher” for the first time since he initially retired in 2006.

“He is driving well again,” the famous Scot told Kolner Express newspaper, “but so too is Nico Rosberg.

“They have a much better car than last year, and Michael is finally showing what he is capable of.

“I don’t know if that will be (good enough for) victories, but for sure we will see him again on the podium,” added Stewart.

 Force India has been ordered by a British court to pay over a million dollars.
With team boss Vijay Mallya already in financial strife over his collapsing airline Kingfisher, his Silverstone based team must now pay Italian wind tunnel Aerolab.

The high court judge on Wednesday said the amount, which according to the Daily Telegraph will skyrocket to over $6 million once legal costs are added, is for unpaid fees following a copyright dispute with Aerolab and Caterham.

The newspaper said the bill could be the final straw for struggling Mallya, who may now cede control of Force India to 42.5 per cent shareholder Subrata Roy, another Indian billionaire.

But Force India hit back in a media statement on Wednesday by revealing that Aerolab and its client Caterham were found “liable for copyright infringement”.

“Some parts created using Force India confidential information were used on the Team Lotus race cars in the early part of the 2010 season,” it read.

Force India said it has referred the court’s ruling to the FIA.

 Hot on the heels of the new technical controversies, the 2012 season has also kicked off in the sport’s high-intrigue world of politics.
A fascinating blog post by Sky News’ City editor Mark Kleinman has been pulled from the internet just hours after it went live.

It was about “F1 finance and control allegedly involving Ferrari, Red Bull and (the sport’s owner) CVC”, according to veteran journalist and broadcaster Maurice Hamilton on Twitter.

“Has someone spoken out of turn?” wondered the Times’ Kevin Eason.

The Telegraph’s Tom Cary said the rumour is that a $10 billion stock market floatation for F1 could be in the works “with Ferrari (and) Red Bull getting special deals”.

“There is no smoke without fire with this one,” added Eason. “No wonder Ferrari and Red Bull ditched FOTA.”

The document that currently governs F1 and its finances, the Concorde Agreement, runs out this year, and now F1′s most famous team – Ferrari – and the reigning world champions are outside the trade union FOTA.

“Coincidence? Highly unlikely,” said Cary.

F1 chief executive Bernie Ecclestone insists no deals have been done yet.

“I’d like to try to do something before the season starts,” he said this week. “I don’t want it dragging on.”

As for his take on FOTA, “Ferrari would never go do a deal with those clowns,” the 81-year-old scowled.

Jaime Alguersuari has ruled out following his former Toro Rosso teammate Sebastien Buemi to Le Mans.
The pair were axed at the end of last season, leaving Swiss Buemi with the reserve role at Red Bull and a one-off drive in the fabled Le Mans 24 hour race.

21-year-old Alguersuari, on the other hand, will remain in the paddock this year thanks only to his new British radio co-commentary role, amid rumours he could become Pirelli’s test driver.

Le Mans, he insists, is not an option.

“No, that’s avoiding F1,” he told the BBC. “I am working for the radio and I will do some go-kart races to help with my physical training.

“Racing elsewhere is just starting another career. It’s doing something that’s not F1.”

It is clear Alguersuari is keeping his diary clean in the event an opportunity arises to quickly return to the grid.

“In F1 you never say never. Anything can happen,” said the Spaniard.

The BBC is also acutely aware of its acquisition’s real ambition.

Radio 5 Live controller Adrian van Klaveren said: “We are going to make the most of Jaime’s first hand experience right now knowing he could well be driving for one of the teams again in the near future.”

Meanwhile, Alguersuari slammed his former bosses’ explanations as to why he and Buemi were ousted.

“I respect the situation that they don’t want my work anymore, but what they’ve said is absolutely not acceptable,” he told the Daily Mail.

“They said we are good drivers, but we are not winners. It doesn’t make sense if you give me a car that is not capable to be in the top ten.”