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.

Last Sunday proved that Pastor Maldonado is no mere ‘pay driver’.

“If he was a fool, he would not be with us, no matter how much money he brings,” Sir Frank Williams is quoted by Brazil’s Globo Esporte.

Venezuelan Maldonado, whose links to the state owned oil company PDVSA and president Hugo Chavez controversially deliver many millions to Williams’ Oxfordshire based team, became F1′s fifth different winner of 2012 last weekend in Spain.

It has helped him to shake off the ‘pay driver’ insult, Williams insisting he is now a potential world champion instead.

“Without a doubt. He is very fast and makes no mistakes,” the newly 70-year-old Briton said.

Williams does, however, acknowledge that Maldonado’s money was a key factor in the decision to sign him.

“Yes, it was to some extent,” he said. “I don’t deny that. But he’s also a real driver. He fully deserves to be on the team, with or without money.

“The truth is that if you don’t have money, you don’t get to be in formula one,” added Williams.

Team shareholder Toto Wolff agrees: “If you want to race in GP2, you need a few million pounds. So, the drivers need not only to be fast and talented, but able to attract the sponsors.

“So let’s forget this thing about ‘pay drivers’,” he insisted.

Triple world champion Nelson Piquet, however, has some lingering doubts.

He ran Maldonado in his own GP2 team some years ago, and this week recalled a driver who was often “too aggressive” and made too many mistakes.

“We’re not talking about a guy who shone in his youth, like Nico Rosberg,” said the famous Brazilian, “or someone like Lewis Hamilton, who always had everything he needed thanks to Ron Dennis.

“In GP2, when you don’t stand out in your second year, you begin to be doubted. In Maldonado’s case, he only shone in his fourth year.

“Perhaps because of this he only made it to formula one as a paying driver, without having anything special, apparently. He was perceived as just a good pilot, but clearly no Alonso.

“Now he was at the right place at the right time but he still managed to beat Alonso in Spain as well as another world champion, Kimi (Raikkonen). So hats off to him.”

Preparations for the inaugural Russian grand prix in 2014 appear to have hit a roadblock.

We reported last weekend that rumours were circulating in the Barcelona paddock that the Sochi race now appears “doomed”.

The state owned Moscow news agency Ria Novosti now reports that political issues have created “serious delays” in the race’s preparations, according to an adviser with the Russian Automobile Federation.

The official, Igor Yermilin, insisted that the project is not doomed, but he said very few efforts have taken place following the bureaucratic reshuffling of the local Krasnodar region.

He said some officials of the Omega company, responsible for the F1 circuit project, have lost their jobs.

“In the Krasnodar region there has been have been quite serious changes in the leadership,” Yermilin said, “including people from Omega who signed the contract on holding the Russian grand prix”.

The coastal city Sochi is also scheduled to host the 2014 Winter Olympics.

“The main thing at the moment is the Olympics — the grand prix is on the back burner,” said Yermilin.

Bahrain, the controversial island Kingdom, could have been central to McLaren’s decision to agree the terms of the next Concorde Agreement.

Bahrain’s ruling family, through its investment arm Mumtalakat Holdings, owns half of the famous British team.

The Times’ F1 correspondent Kevin Eason quoted a source as saying the link “pushed (McLaren’s) Concorde deal over the line”.

In return for signing up, Bahrain reportedly received a “pledge” that last month’s highly contentious grand prix would go ahead.

Eason also said it is possible that one of McLaren’s two Bahraini directors, rather than the obvious choice Ron Dennis, could be appointed to the F1 board once the sport is floated on the Singapore exchange.

Bernie Ecclestone denied the 2012 Bahrain grand prix and the Concorde Agreement deal were linked.

“It was nothing to do with the Bahrain race (going ahead),” the F1 chief executive insisted. “But McLaren liked the deal.”

Intriguingly, however, F1′s post-stock market floatation chairman Peter Brabeck-Letmathe has defended the controversial decision to push ahead with Bahrain last month.

“The race was exploited by the opposition in Bahrain, not vice versa,” he told the Austrian newspaper Kleine Zeitung. “That was not interpreted correctly by the media.

“If groups want to exploit sporting events for their interests, then the worst thing you can do is give way.”

Brabeck also compared Bahrain to England.

“In what countries are there no riots?” he asked rhetorically. “A year ago there were riots in London — should the Olympic Games now be cancelled?”

Romain Grosjean has admitted he didn’t try to keep his teammate Kimi Raikkonen behind him at the recent Bahrain grand prix.

In the wake of Lotus’ podium breakthrough, it was suggested Frenchman Grosjean was the victim of team orders.

Team figures, including boss Eric Boullier and 2007 world champion Raikkonen who finished the race second ahead of rookie Grosjean, denied the charge, even though team orders are fully legal.

But it emerged this week that, just before Grosjean was passed by Raikkonen, the French driver was told on the radio: “Kimi is faster than you.

“Do not hold him up,” the radio message, broadcasted for the first time by F1′s official website this week, ended.

Onboard footage of the move also showed Raikkonen briefly waving to his teammate as he completed the easy pass, ostensibly to thank him.

“I think that if I had closed the door on Kimi, or if we had fought, then I could have lost a wing,” Grosjean said this week.

“We knew that we could have a podium as a result and I didn’t want to make a mistake. I didn’t race at my best level,” he admitted to RMC.

Romain Grosjean was given a familiar instruction by his team during the recent Bahrain grand prix.

The Finnish broadcaster MTV3 reports that the Frenchman was told that his teammate “Kimi (Raikkonen) is faster than you”.

“Do not hold him up,” the radio message reportedly ended.

In 2010, when team orders were still illegal, Felipe Massa was famously told “Fernando (Alonso) is faster than you” shortly before the Brazilian gave up the lead of the race to Alonso.

Ferrari was fined $100,000.

Today, team orders are allowed, but Lotus denied it instructed Grosjean to let 2007 world champion Raikkonen pass before the Finn finished second in Bahrain.

“We don’t want to play team orders,” Lotus team principal Eric Boullier insisted in Bahrain, “so we let them race normally and what happened, happened.”

With Red Bull the latest to hold a trophy aloft this year, yet another potential 2012 champion has emerged.

In theory, back to back world champion Sebastian Vettel, the Bahrain grand prix winner, was always a contender for a third drivers’ crown this year.

But his RB8 was not a race winner until Sunday, after McLaren, Mercedes and even Ferrari had tasted the first victory spoils so far this season.

It was said that – amid the extraordinary field of 2012 – Adrian Newey’s latest creation was simply in the league of other midfielders including Lotus, Sauber, and perhaps even Williams and Toro Rosso.

But as Dr Helmut Marko remarked at the chequered flag: “Those pronounced dead live longest!”

“We never wrote them off,” McLaren team boss Martin Whitmarsh insisted to Germany’s Auto Motor und Sport, “because we knew that they had a good car and that they only needed to find the key.

“This season is really crazy; more exciting than we would like!” the Briton admitted. “And now we have to say Lotus are also contenders.”

German Vettel won in Bahrain from pole, but even he admitted that the weekend was a surprise.

“After Australia it seemed that McLaren had a supercar and it would be difficult to beat them, at least in the short term,” he is quoted by O Estado de S.Paulo.

So even the experts are at a loss after the initial ‘flyaway’ phase of the new world championship.

“We know that we know nothing,” beamed Vettel after his victory, referring to the oddly see-sawing balance of power in 2012, blamed mainly on the Pirelli tyres.

“It is almost impossible to predict in advance how the different tyre compounds are going to behave on race day,” he is quoted by Der Spiegel.

“You have an idea, but nothing more.”

High-profile sponsors are nervous, as formula one ploughs ahead with next week’s Bahrain grand prix.

Despite widespread trepidation felt within the paddock this weekend in Shanghai, the FIA has declared that there is no reason the Sakhir event cannot go ahead.

And after meeting with the teams on Friday, Bernie Ecclestone told reporters the race is “200 per cent” on.

But The Times reports that, amid the threat of violence, some sponsors have pulled the plug on providing hospitality for guests next weekend.

“When you have an environment like Bahrain then all the sponsors will be watching developments very, very closely and talking to each other,” a source said.

“It’s a case of ‘watch this space’ basically.”

However, the British newspaper said it is unlikely any major sponsors will pull their logos from the cars.

“(They) will effectively just have to follow the sport,” said Tim Bampton, of the motor sports marketing company Just Marketing.

“They will have to watch and wait to see what happens even though they could be caught in the vortex.”

But, at the same time, it is believed that sponsors’ contracts with the teams – such as Vodafone’s estimated $75m deal with McLaren – contain “brand damage” clauses.

An added complication for McLaren is that it is part owned by Bahrain’s sovereign wealth fund, with Mumtalakat Holdings “on course to own half the business” according to writer Kevin Eason.

Also under heavy scrutiny is the conspicuously silent FIA president Jean Todt, whose son Nicolas shares ownership of his GP2 team with Bahrain’s controversial crown prince.

“We all know why it (the Bahrain saga) might have dragged a bit,” Mark Webber is quoted by the Telegraph.

“F1 is like that. There’s a lot of funding and finances that have come from Abu Dhabi and Bahrain and the Middle East.

“They’re very excited about F1 and they clearly want to give it another go. Let’s see if it works,” added the Red Bull driver.

A Daimler shareholder has called on the German car giant to pull its works Mercedes team out of formula one.

Fund manager Ingo Speich, of the Daimler shareholder Union Investment, said at Daimler’s annual general meeting that he is disappointed Mercedes has lost ground to road car rivals Audi and BMW.

“Mercedes is no longer the measure of all things in the premium sector,” he is quoted as saying by Die Presse.

Speich referred to “a lost decade” for Daimler, and called on the company to follow BMW’s recent lead and pull out of formula one.

His speech reportedly received applause from other shareholders.

Mercedes is the biggest formula one team yet to follow the likes of Ferrari, McLaren and Red Bull in signing a new Concorde Agreement beyond 2012.

With F1 currently scheduled to arrive en masse in Bahrain next week, a crisis surrounding the possible cancellation of the island Kingdom’s race is continuing to deepen.

The teams have now denied Bernie Ecclestone’s claim that they can simply choose to skip the event.

“That would not be possible,” said a statement issued by the teams association FOTA. “Teams are unable to cancel (a) grand prix.”

Bahrain, meanwhile, stepped up its campaign, accusing some of deploying “scare-mongering tactics” designed to force the race’s cancellation.

The race organisers released a report conducted by Lotus, following the Enstone based team’s recent reconnaissance mission to Bahrain.

“We came away from Bahrain feeling a lot more confident that everything is in hand,” Lotus is quoted as having reported.

The team, however, reacted angrily, accusing the organisers of having released a “confidential” document.

“Lotus F1 Team is one of 12 contestants of the … world championship and we would never try to substitute ourselves for the FIA”, said the Enstone based team.

Surmised Times correspondent Kevin Eason on Twitter: “(It’s) getting messy…”

At the same time, F1 chief executive Ecclestone became fully immersed in the political situation on Tuesday, reporteding personally phoning Bahrain’s crown prince to express concern about the jailed hunger striker.

An Amnesty International report published this week had called for Abdulhadi Al-Khawaja’s release, amid claims he is now close to death and being force-fed.

But the Bahrain government, through its information affairs authority, insisted that only police and rioters are being injured in “infrequent and remote clashes”.

Also weighing into the argument was Sir Jackie Stewart, the eloquent triple world champion, who said: “I would go.

“The commercial rights holder has sold a package, at a price, and it is part of the constructors’ agreement that they attend the races that have been published,” he told the Guardian.

“As a team owner I would have to honour my agreement both orally and legally.”

Whatever happens, the Bahrain saga – stretching back now over a year – is not good news for the future of the island Kingdom’s calendar spot.

“Maybe we wouldn’t renew it (the contract),” Ecclestone admitted to the BBC. “We’ll have to look and see.”

Just two races into 2012, Kimi Raikkonen has already sat at the wheel of Lotus’ car for 2013.

His race engineer Mark Slade revealed that the Finn was at Enstone on Wednesday to sit in “a basic mock-up” of the single seater for next season.

“There’s some rethinking in terms of the driver position for 2013, and we wanted to test it out before committing any further to the concept,” said Slade.

“It may seem early, but it’s better to do these things sooner rather than later otherwise it can hold up the whole design process.”

A report by the Finnish broadcaster MTV3 said that Lotus’ 2012 car was essentially complete late last November, when Raikkonen joined the team.

So “Raikkonen can have his say on the car for next year”, the report added.

Damon Hill has changed his mind yet again on the controversial issue of Bahrain’s return to formula one later this month.

Amid the debate about the island Kingdom’s return to the calendar in the wake of the cancelled 2011 event, the 1996 world champion said initially: “F1 must align itself with progression, not repression”.

But he changed his tune after travelling with FIA president Jean Todt to Bahrain, insisting the situation on the ground had changed since the 2011 protests.

“The grand prix is of huge economic importance to Bahrain. You’d almost be putting an economic sanction on Bahrain by pulling the race,” said Hill.

But the Briton has now changed his mind again, apparently after the latest reports of violence on the streets and the reaction in the international media.

Hill is quoted by the Guardian newspaper: “It would be a bad state of affairs, and bad for formula one, to be seen to be enforcing martial law in order to hold the race.

“Looking at it today you’d have to say that (the race) could be creating more problems than it’s solving.”

The former Williams driver is scheduled to attend this month’s Bahrain grand prix as a television analyst, but Hill brushed aside any thoughts about his lucrative contract with the British broadcaster Sky.

“Some things are more important than contracts.”

He also expressed misgivings about a recent media briefing in London, in which Bernie Ecclestone and team bosses stood with the Bahrain organisers and insisted the race is going ahead despite the continuing controversy.

Damon said that event was “troubling insofar as it tried to represent the rioting in Bahrain as the result of bad press reporting and as a ‘youth’ issue.

“I hope the FIA are considering the implications of this fully and that events in Bahrain are not seen as they are often sold, as a bunch of yobs throwing molotov cocktails, because that’s a gross simplification.”

Writing in O Estado de S.Paulo newspaper, Brazilian correspondent Livio Oricchio admitted he thinks it would be “almost reckless” for F1 to travel to Bahrain this month.

“At Sepang,” he wrote, “many team members were very concerned. They said their insurance companies had expressed concern about going to an Arab country in a belligerent state.

“Personally, I don’t think we will be attacked, but it is the goal of the protesters to do anything so that the grand prix is not run.

“The Arab Spring is very much alive in this small country in the Persian Gulf,” he admitted.

And the Times of London’s Kevin Eason wrote on Twitter: “I have been thinking F1 should give Bahrain a chance but I am not convinced now that safety can be guaranteed.”

Now less than three weeks before the island kingdom is scheduled to host its return to formula one, bitter protests and violence have once again erupted in Bahrain.

Witnesses claim a 22-year-old man who was filming the firing of tear gas on protesters was shot and killed by state-supporting militia on Friday.

The death – reportedly the first since last year’s troubles forced the cancellation of the 2011 race and test – intensified the clashes and calls for the forthcoming grand prix to be axed.

The government has denied it is responsible for the death.

“The ministry of interior will do all it can to find the criminal and bring him to justice,” a spokesman is quoted as saying by the Times of London.

The ministry also confirmed that Nabeel Rajab, the president of the Bahrain Centre for Human Rights, has been arrested.

He had said last week: “We are going to use the opportunities that a lot of journalists are there (for the grand prix) and we are going to protest everywhere.”

The protests, however, continued.

“We (object to) holding a sports race that belittles the sacrifices of our children and ignores our suffering and wounds,” said a video statement posted on the internet by a protester.

“Do not tarnish the reputation of the respected auto sport with the blood of Bahrain victims.”

And on Twitter, the hashtags #BloodyF1 and #noF1 are being used to protest against the race and link to graphic photos and videos purporting to depict government violence.

Dr Helmut Marko has denied reports Sebastian Vettel was summoned to Red Bull’s headquarters this week to explain his behaviour at the recent Malaysian grand prix.

The Narain Karthikeyan-saga aside, reports suggested the German deliberately ignored his bosses’ instruction that he retire his RB8 – ostensibly due to a brake issue – so that he could fit a new gearbox without penalty in China.

The reports suggested Vettel had confessed immediately after the race that he heard the instruction but chose to ignore it.

“That is all nonsense,” Red Bull’s motor racing consultant Marko told Sport Bild.

“Sebastian did nothing – absolutely nothing – that was against our wishes.”

Marko said Vettel’s visit to Milton Keynes this week was scheduled long ago, adding that he will be working inside the driver simulator amongst other things.

He also hit back at claims the 24-year-old could be penalised by the FIA for breaching the code of conduct when he showed the ‘middle finger’ to Karthikeyan.

“The matter was resolved during the meeting with the stewards (in Malaysia). For me, the case is closed.”

Speaking to Kolner Express newspaper, however, an FIA spokesman confirmed that the code of conduct forbids superlicense holders from insulting their rivals.

But he added: “I imagine the application of this paragraph was considered by the stewards in Malaysia.”

And Sebastian Vettel’s spokeswoman said: “We know of no investigation.”

New media reports have contradicted claims French PM Francois Fillon will on Friday announce the country’s 2013 return to the formula one calendar.

Le Parisien newspaper on Thursday said Fillon’s visit to the Paul Ricard circuit on Friday is to confirm the successful end to long negotiations to revive the French grand prix.

Those negotiations were for Paul Ricard to annually alternate a race date with Belgium’s fabled Spa Francorchamps.

But the French-language RMC insists that Belgium is “not ready for the alternation”.

“If France has received a contract to organise a grand prix every other year, this is not the case for the Belgian promoters, who are still waiting for the document to send to the government of Wallonia,” the report read.

RMC said the hold-up could be because Spa is having trouble paying its sanctioning fee for this year’s race date in September.

The French magazine Sport-Auto agrees, insisting that Fillon “will not announce the return of the grand prix de France on Friday”.

“The prime minister will travel to the (Paul Ricard) circuit,” an official close to Fillon is quoted as saying by AFP news agency, but Fillon “will not announce the return of the grand prix to the calendar in 2013″.

The official, however, said Bernie Ecclestone as approved “in principle” France’s presence on the calendar every other year, beginning in 2013.

But “It (the alternation) will not necessarily be with Belgium,” the report added.

In an interview to be published by the Nice-Matin newspaper on Friday, Fillon is quoted as saying a grand prix is crucial to France.

“Bernie Ecclestone has just sent us a draft contract,” said the prime minister, “which is the result of negotiations that began several months ago.

“We now have a concrete basis for discussions,” he added.