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.

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.

Volkswagen, the German carmaking giant, has played down suggestions it could launch a formula one project some time soon.

“There are always rumours about Volkswagen and formula one,” said Jost Capito, who has taken over from Kris Nissen as the head of the Wolfsburg-based company’s motor racing boss.

However, he is quoted by Germany’s Sport1 as insisting that VW is only concentrating on its world rally programme.

“The WRC programme is approved from 2013 to 2015,” Capito insisted. “There is no room to think about anything else.

“It (F1) is not on our radar,” he is also quoted as saying by France’s L’Equipe. “Our hands are full already.”

In the wake of BMW, Honda and Toyota’s departures, the only mass production carmakers in F1 are Renault – as an engine supplier – and Mercedes.

Ferrari, McLaren, Lotus and Caterham produce niche sports cars.

McLaren has made changes to its pit crew and processes, following recurring problems at recent grands prix.

Team boss Martin Whitmarsh launched a full internal investigation after Bahrain, where problems with the fitting of wheels during crucial stops resurfaced.

“We have to try and make sure we pick up on them (the problems) for the next race because we can’t afford to lose points like we did,” said Lewis Hamilton.

One wheel-gun operator got the lion’s share of the blame, but Whitmarsh insisted that McLaren would also “look at the equipment, the process, the approach”.

He told reporters on Wednesday: “We have looked at what we are doing and have made some changes to the team and the process and we’ll see them on Sunday in Barcelona.”

Despite the heat felt by the deposed wheel-gun operator, Whitmarsh reveals he was “astounded” by the number of McLaren mechanics who put their hands up to replace him.

“It reflects well on the spirit of the team. There’s been a reasonable amount of practice and we’ll see at the weekend. I believe we’ll have good stops,” he concluded.

Ferrari’s task is to improve step by step, rather than make a quantum leap in Barcelona next weekend.

That is the claim of Spaniard Fernando Alonso, as the famous Italian team disappointed some headline-writers on Tuesday by not launching a ‘B’ car at the Mugello test.

“We have to take a step forward in Montmelo, one in Monte Carlo, another in Canada, and so on,” Alonso is quoted by La Stampa, after topping the rain-affected first day of testing on Tuesday with the improved F2012 car.

He acknowledged that Ferrari cannot win the 2012 season if the performance of the opening four grands prix is repeated throughout the season.

“We have to be qualifying in the top ten, fighting for the top five and having both cars in the points in every race,” he insisted.

Asked if he thinks the title is a realistic goal, Alonso said: “We are optimistic.”

He said he pushed as hard as he could in Australia, Malaysia, China and Bahrain with a sub-standard car.

“It was like walking on a wire a hundred feet up,” said the 2005 and 2006 world champion. “If you do one thing wrong – hit a curb in qualifying or miss a braking point in the race – you’re not in the top ten.

“We do not have the fastest car, but with a team like Ferrari, a good car is enough.

“I’m not the best in qualifying, or in the rain, or on the street circuits, but I try to be a 9.5 in everything.”

Whilst admitting the RB8 has “very nervous” handling, Sebastian Vettel insists there is nothing fundamentally wrong with the 2012 Red Bull.

The German looks likely to struggle to add a third consecutive drivers’ title to his tally this season, after slumping to just sixth in the points standings after the first two races.

In China, he has reverted to a launch specification of the Adrian Newey-penned car’s exhaust layout, whilst Mark Webber is plugging ahead with a further development of the Australia-Malaysia solution.

“There is no question of something (being) wrong,” Vettel is quoted in Spanish media reports as saying in Shanghai, “just a few things that are probably just not working in an ideal manner.

“The problem we have is that the balance of the car is not as good as we had last year. It’s not a question of downforce, but of ensuring that all the parts are behaving as a whole.

“That is what we are trying to achieve.”

Vettel dismissed the suggestion that because Red Bull’s cars are in two different specifications this weekend, it means the team has “lost” its way.

“I wouldn’t say that,” he said. “I firmly believe we have a very competitive car, at the moment we are just not able to take its full potential out.”

Meanwhile, the 24-year-old said he has spoken with Narain Karthikeyan, following their collision in Malaysia.

Vettel twice showed his Indian rival the middle finger, and described Karthikeyan – who was penalised by the stewards – as an “idiot”.

“I spoke with him and he apologised,” Vettel is quoted by Germany’s spox.com.

But when told that he was once a backmarker like Karthikeyan, the German insisted: “I was never as far behind as the HRT.

“Of course you have to drive your own race. But you still have to know what is going on around you.”

HRT Formula 1 Team announces the incorporation of Chinese driver Ma Qing Hua to the Spanish team’s young driver development programme.

The formation programme designed by HRT F1 Team for Ma Qing Hua includes professional assessment in his career as a driver, private tests with cars from different categories and simulator tests. If the results of the partnership are satisfactory, Qing Hua could take to the wheel of the F112 at the Formula 1 Young Driver test.

Ma Qing Hua will perform his first official act with HRT Formula 1 Team on Thursday the 12th of April at a press conference previous to the Chinese Grand Prix (13th to 15th of April), which takes place at the Shanghai International Circuit. The details of the press conference will be announced shortly.

The incorporation of Ma Qing Hua to HRT Formula 1 Team’s driver development programme is part of the Spanish team’s strategy in order to serve as a platform for the formation of professionals in the pinnacle of world motorsport. The driver born in Shanghai has been competing in different categories of national and international motorsport for many years. His incorporation to HRT F1 Team’s Driver Development Programme takes place after some simulator tests and a testing session in Cheste (Valencia) at the wheel of a World Series car. The qualities and attitude of Qing Hua convinced Luis Pérez-Sala of his potential to incorporate him to the programme which Dani Clos, HRT F1 Team test driver, is also a part of.

Ma Qing Hua: “I’m very honoured to form a part of the driver development programme at HRT Formula 1 Team since, with work and effort, it will allow me to become the first Chinese Formula 1 driver. It’s a very special moment for me and it’s hard to express how happy I am. I’ve dreamt of becoming a Formula 1 driver since I was very small. I started in the karting world when I was 8 years old and I worked really hard to learn and become quicker every time. After competing in categories such as Formula campus, Formula Renault and F3, I learned a lot about car set-up, technique on circuits and team work to become more professional every time. And now finally my childhood dream has become true thanks to the opportunity that HRT has granted me to become an F1 driver. And even more so this year with all the drivers who are competing, with 6 world champions amongst them. Driving an F1 car will be the most incredible experience and I’m going to work hard to earn it. Thanks to HRT for offering me the chance to show what I’m capable of. And thanks to my family and everyone who has always supported me. This is only the beginning”.

Luis Pérez-Sala, Team Principal: “We are working so that one of the team’s signs of identity is to serve as a platform to launch young drivers, both nationally and internationally. Ma Qing Hua is one those talents in which we believe and we want to help him in his career so that he can make it to Formula 1. We like his conditions and we want to take part in his formation by incorporating him to the team’s Driver Development Programme so that he can participate in races and private tests, with the objective of him being able to take part in the Formula 1 tests reserved to young drivers. Due to my responsibility in the Circuit de Catalunya young driver programme, I’ve been able to follow his progress and personally assisted some tests he did. I knew he had potential, but I was surprised with his speed, safety, adaptation capacity, attitude and professionalism. All these virtues make us believe that his incorporation to the programme will be very positive and will lead to a fruitful and lasting relationship”.

Profile

Date of Birth: 25th of December 1987
Place of Birth: Shanghai, China
Nationality: Chinese

Ma Qing Hua started racing at the tender age of 8 and won the youth National Karting Championship when he was 12 years old. He continued to race and achieve successful results in karting until 2004, when he entered the Asian Formula Renault Series and won the championship. In 2005 he represented Team China in A1 Grand Prix. From here he would move on to Formula Renault 2.0 NEC, before competing in Formula 3 Spain and Formula 3 Spain “Copa de España”, managing two podiums this season. One year later, the Chinese driver took part in various events of the British Formula 3 International Series. In 2010 he represented Team China for two races in Superleague Formula before moving onto the Chinese Touring Car Championship in 2011 where he came away with the title after four wins and four podiums in the eight-race season.

Career Summary:

2011: Chinese Touring Car Championship: 1st in the Championship (4 wins and 4 podiums)
2010: Superleague Formula: Team China
2009: British Formula 3 International Series: Team West-Tec
2008: Formula 3 Spain, Copa de España F3: Team West-Tec: 7th in the Copa (2 podiums)
2007:Chinese National Karting Championship (Super Group): 1st in the Championship
2006:Formula Renault 2.0 NEC: Team Astromega
2005:A1GP: Team China
2004:Asian Formula Renault Series: 1st in the Championship
Formula Campus Asia Championship: 1st in the Championship
Shanghai Karting Grand Prix (ICA Group): Winner
2003:Chinese National Karting Championship (ICA Group): 6th position
2002:Chinese National Karting Championship: 2nd position
Indian International Karting Championship: 2nd position

 The BBC’s delayed and edited highlights of Sunday’s Australian grand prix attracted more viewers than the British broadcaster’s live coverage of the same Melbourne race a year ago.
From 2012, F1′s television coverage for Britain is being shared between pay-channel Sky – who have the full-time live rights – and the public broadcaster BBC.

Last year, the BBC’s live coverage of the 2011 season opener averaged 2.13 million viewers.

But the delayed highlights package for 2012, aired hours after the race finished between 2 and 4pm, attracted 2.7 million viewers.

The figures may, however, be a one-off, with Australia usually among the lowest-rating races in Europe due to the very early morning live timeslot.

Sky’s live coverage of the pay-channel’s 2012 coverage, meanwhile, averaged just 526,000 viewers.

A spokesman for the channel refused to comment on whether Sky was disappointed with the figures.

“It is the performance of the whole (F1) channel we are interested in. We are pleased with the launch of the channel overall,” he told the Guardian.

Eight of F1′s 12 teams are based in Britain.

Pedro de la Rosa insists he is not afraid to admit he will tackle next weekend’s Australian grand prix at the wheel of the “worst” car.
“We will have a difficult year,” said the veteran Spaniard, who is yet to actually drive HRT’s newly-launched F112.

“It will also be interesting because the team is 80 per cent new,” added the 41-year-old former Arrows, Jaguar and Sauber driver, who for years was McLaren’s main test driver.

“We should not be afraid to admit that we are the worst, but we must have the ambition to not stay that way,” he told Antena 3 television.

“Our goal is to finish races, stop being the last across the line and to grow, trying to close the gap to pole position.”

The next stop, he said, is the Melbourne pitlane.

“The team is packing up everything and preparing a second chassis. Tomorrow night it is all put onto planes and sent to Australia.

“I leave on Monday,” revealed de la Rosa.

 Pedro de la Rosa has defended the viability of struggling HRT, despite its new owners trying to build up a formula one team in the mist of a near-unprecedented economic crisis.
The unemployment rate in Spain has spiralled past 20 per cent, and yet owners Thesan have taken on the task of rebuilding the former Hispania team following the departure of boss Colin Kolles and all the infrastructure.

The F112, bearing more than a striking resemblance to the Dallara-designed 2010 and 2011 car, was launched recently with a new livery but only two visible sponsors.

Asked whether it is a good time to push ahead in Spain with a formula one project, lead driver de la Rosa said: “Any moment can be good.

“There is a large labour force in Spain, highly educated and motivated people, young people pushing hard and experienced people.”

But in formula one, money is the fuel and it’s difficult to come by at present.

“This is a time of crisis,” de la Rosa acknowledged to DPA news agency, “and also it has been noticed in formula one and budgets have gone down.”

He admitted, however, that HRT will have to attract more backing in order to survive.

“If the (financial) injection does not come, it is going to be difficult,” said the 41-year-old. “We need sponsors, investors who believe in the project, to help us to grow.

“It’s obvious, we need it, but first we need to build a foundation so it can be seen that it is profitable to invest in our team,” he added.

 Red Bull is considering taking the ‘old’ version of its new car to Melbourne for the 2012 season opener.
That is the claim of Germany’s authoritative Auto Motor und Sport magazine, after the radically updated model made a troubled debut late last week as the pre-season test period ended.

Rivals and pundits believe the reigning champions are still leading the field, but the latest Barcelona-spec car – featuring a significantly different exhaust layout – did not complete many laps.

Moreover, it also did not appear fast.

“When I watched Webber’s long run on Saturday afternoon,” said an engineer for a rival team, “it was nothing special — not the laptimes nor the tyre wear.”

Also unconvinced are the drivers, with Mark Webber saying the new car did not feel “massively different” to the earlier launch-version RB8.

Sebastian Vettel, meanwhile, was dead last after just 23 laps on Sunday, and is quoted as saying: “It wouldn’t be fair for me to judge the upgrades, so we have to rely on the data collected by Mark.”

Another rival engineer said there is visual evidence that the exhaust gases on the revised layout “are not going where they (Red Bull) want them to go”.

Marussia Racing’s new MR01 finally made its first on-track appearance during a promotional ‘filming’ day at Silverstone, just a few miles from is Banbury base.

The Anglo-Russian team endured a torrid time in its attempts to get the car ready for the third and final group test at Barcelona last week, having skipped the opening session in Jerez to prepare the MR01 for early March, only to fail the mandatory FIA crash tests. Although both Timo Glock and rookie Charles Pic got some miles under their belts in Barcelona last month, it was at the wheel of the 2011-spec car, leaving them preciously short of time in the new machine ahead of its race debut in Melbourne next weekend.

The Silverstone shakedown, part of a promotional event ahead of the car’s departure for the Australian Grand Prix, will provide both team and driver with vital information on the new machine, which has been conceived after a ground-up re-evaluation of the way Marussia designs its racing cars. As such, the car is almost entirely new, with very few carry-over components from last year’s Marussia Virgin MVR-02.

The desire to make a clean break from the previous CFD-only creations presented the design team, led by technical consultant Pat Symonds, with the challenge of going back to basics to produce a solid mechanical package, whilst maintaining an eye towards achieving the incremental performance steps required to move the team forward.

The starting point for the design programme was a consideration of the people and resources available to the Banbury-based team. The former three-base operation has been consolidated into one site, the Marussia Technical Centre in Banbury, bringing the various elements of the business together to form ‘one team’. In particular, the design department and practices now benefit from far greater integration and collaboration. Furthermore, the aerodynamic department has been completely restructured and the aero methodology reinforced, blurring the boundaries between CFD and experimental work in the wind tunnel, as well as enhancing the fidelity of the team’s aero approach.

The technical partnership forged with McLaren Applied Technologies in July of last year has also been influential in the design process and the relationship is starting to yield benefit as the advanced facilities that the Marussia team has access to have been used to prove the correlation process with the MVR-02. It is however early in the relationship and the MR01 will become a beneficiary of the relationship in due course.

The key design priorities were to address previous aerodynamic deficiencies and, mechanically, achieve greater weight saving. At the same time, a lot of the detail of the car has been refined and the design team have been a little more adventurous than before, stepping closer to the engineering boundaries. The car can best be described as a significant evolution of its predecessors. The relationship with McLaren is also evident, as the MR01 is only the second car launched this season, after the Woking giant’s MP4-27, to eschew the stepped nose concept favoured by the rest of the field.

“We are very pleased to be running the new MR01 for the first time this morning,” team principal John Booth admitted, “It has been a long and frustrating wait for everyone in the team, but we can now get back on track – literally – and start working towards the first race of the season in Australia next weekend.

“Today is the first of two promotional events, so while the drivers will be able to get a feel for the car, they won’t be able to draw any real conclusions until we start running in anger in Melbourne. Nevertheless, this is an important day for us and we’ll enjoy every minute on track with the new car.”

Glock turned the first laps with the MR01, beginning his third season with the team and providing the all-important element of continuity required to keep moving the package forward. He is joined in 2012 by Frenchman Pic, who embarks on his rookie year in F1, having made the step up from GP2 to replace Belgium’s Jerome d’Ambrosio. Both drivers will get track time with the new car over the next two days, albeit running on demonstration tyres as opposed to the Pirelli P-Zeros that they will use once competition starts in Melbourne.

 HRT has confirmed that its 2012 car, the F112, will finally make its track debut on Monday.
Recently, the FIA barred Red Bull and Ferrari from tweaking their test schedules so that their Barcelona running could end on Monday.

But struggling backmarker HRT asked its rivals for special permission, given it had yet to use its separate allowed test day for ‘filming and promotional’ purposes.

Actually, the Cosworth-powered HRT is also being launched, debuted and shaken down, after a failed FIA crash test delayed progress for a team already recovering from a change of ownership and the exit of boss Colin Kolles.

A report in the German press said HRT has been focused not only on the ‘step nose’ 2012 car, but also buying up all the infrastructure needed for a new F1 team — like pitstop wheel guns at EUR 4000 apiece.

The team said Narain Karthikeyan will do the driving at the Circuit de Catalunya on Monday, with Pedro de la Rosa and reserve Dani Clos also on hand.

EFE news agency quotes de la Rosa as admitting the first six months this year will be “very hard” for HRT.

Other Spanish reports said the F112 was finally fired up in the factory on Sunday.

“I’m very happy,” said de la Rosa, “but also I know how much work is ahead, because we are two months late and we are starting with virtually no preseason.”

Referring to Monday’s shakedown, he added: “It’s better than nothing and, for us, it’s almost a victory,” de la Rosa is quoted by Mundo Deportivo.

At the front of the field in 2012, before a single racing lap has even turned, the well-known formula one arms-race has already begun.
As the last days of pre-Melbourne testing are counted down in Barcelona, Red Bull and McLaren unveiled major evolutions to their recently-launched new cars.

On the RB8, the major difference was the Sauber-style exhaust, after designer Adrian Newey was reportedly “impressed” with the 2012 solution devised by the Swiss midfield team.

“It’s effectively a completely new (Red Bull) car,” said the BBC’s technical analyst Gary Anderson, according to the Guardian.

The high-profile Red Bull upgrade was the perfect time for McLaren to quietly unveil its own heavily modified car, Germany’s Auto Motor und Sport reported.

“Did you see that McLaren have rebuilt half their car?” Force India technical director Andrew Green is quoted as saying.

One new innovation on the MP4-27, apparently, is a Mercedes-like front wing W-duct.

“The upgrade is a major step forward; better than we expected,” said Jenson Button.

Elsewhere, the noises are not so positive: Ferrari stridently denied internet rumours Felipe Massa has been sacked, and then gagged both the Brazilian and his teammate Fernando Alonso from speaking to the media.

“The decision has been taken to keep the whole team fully focused on the job and there is not any polemic intent behind it,” the team insisted.

But while happily listing Red Bull’s likely contenders for 2012, Mark Webber admitted Ferrari’s form remains a “mystery”.

Even less is known about those at the rear of the grid, with Marussia and HRT still yet to launch their 2012 cars.

The Spanish team has sought permission at late notice to do a “filming day” with its new machine in Barcelona on Monday, while Marussia wants to run at Silverstone in the coming days.

At Marussia, the hold-up was caused by the FIA’s more stringent than ever crash tests.

“We’re going to make sure we get it right this time,” team boss John Booth told the BBC.

 The recently revealed ‘W-duct’ aside, another technical secret has been discovered aboard Mercedes’ newly launched W03.
Rumours insist the German squad was the last to reveal and test its 2012 car because it boasts a few highly innovative ideas that could drive Michael Schumacher and Nico Rosberg to the middle of the podium.

Germany’s Auto Motor und Sport reports that mechanics working for the Brackley based team are making more efforts than usual to hide the front and rear of the car, and erecting huge screens in front of the pits between test runs in Barcelona.

But a big secret is now out of the bag, and it’s located beneath the rear rain light and being described by insiders as “like a double diffuser”.

Italy’s La Gazzetta dello Sport said the feature is believed to produce an effect similar to the one pioneered by Mercedes’ predecessor Brawn GP in 2009, which resulted in the championship for Jenson Button.

And according to Auto Motor und Sport, the concept differs to the banned double diffuser because the air is channelled through holes at the rear of the engine cover.

The concept, despite complying with the FIA’s blown diffuser clampdown, also reportedly involves the clever redirection of exhaust gases.

And yet another innovation on the Mercedes could be a passive ‘F-duct’-style addition to the car’s new rear wing, working alongside the ‘DRS’ system.

When asked about the ‘ducts’, Rosberg and Schumacher played it coy: “What’s that?” Rosberg answered, while Schumacher joked that it sounds like something that should go “quack!”

“They are a good team,” Red Bull team boss Christian Horner told Sky when asked about Mercedes.

“They have some good people so it would be foolish to underestimate them.”

Meanwhile, TZ newspaper in Germany reports that the FIA could be set to clamp down even harder in the area of exhaust blowing.

There are rumours Renault and Mercedes-powered teams are still using clever engine mapping techniques for aerodynamic effect.