Even ahead of F1′s Singapore floatation, the sport has some new owners.

Reuters, the specialist financial market news agency, said US-based asset managers Waddell and Reed, Blackrock and Norway’s Norges Bank have bought a $1.6 billion stake from existing owners CVC.

The report cited a source “with direct knowledge of the matter”. The companies did not immediately comment.

It drops CVC’s stake from 63.4 per cent to about 40pc, the source said.

We reported on Monday that the Singapore stock exchange approved F1′s plan to raise as much as $3 billion in an initial public offering.

Other reports said pre-marketing for the listing, likely to go ahead at the end of June, will begin immediately.

“It is not our practice to publicly comment on our dealings with listing aspirants,” said a Singapore bourse spokesman.

Some insiders have expressed concern.

“Look at the muted first-day response to Facebook’s IPO,” an unnamed banker told the Singapore broadsheet Straits Times. “The F1 listing is not nearly as attractive and long-awaited as that.”

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.

More than half of Michael Schumacher’s German compatriots think the seven time world champion will return to retirement at the end of this year.

After three years of retirement, the 43-year-old returned to F1 in 2010 on a three-year Mercedes contract, which runs out in 2012.

SID news agency commissioned the German market research company Promit to carry out a survey as to whether respondents think Schumacher will quit at the end of this year.

55.4 per cent answered yes, while only 26.2 per cent said they think Schumacher should sign on for at least another season.

The winner of a record 91 grands prix has failed to see the chequered flag in three of the five races so far this year, finishing just tenth in both Malaysia and Bahrain.

In contrast, teammate Nico Rosberg’s three top-seven finishes in 2012 included pole and victory in China, netting him 41 points compared with Schumacher’s 2 overall.

“I don’t think we can write him (Schumacher) off yet,” insisted Telegraph correspondent Tom Cary this week.

“His pace hasn’t been bad and he started the season very well. (He) was unlucky in quite a few races, his wheel fell off when he was running second in China and could have had a big haul of points.

“He is making mistakes in wheel-to-wheel racing though. But if he gets a few decent finishes or even wins a race then we could see him continue (in 2013),” added Cary.

HRT Formula 1 Team incorporates Kyocera Document Solutions as its Official Supplier through a collaboration agreement for the 2012 season. The Spanish team will count on Kyocera’s services, which include needs for management and printing of documents, both at the team’s permanent offices in the Caja Mágica and at the mobile offices that travel throughout the world during the Formula 1 season.

Kyocera Document Solutions has a vast experience in the sporting world and, even more so, in the motorsport one, since it’s responsible for the management and printing of documents at the F1 and MotoGP Grands Prix at the Circuit de Catalunya, Valencia Street Circuit and Motorland Aragón. At all of these Kyocera offers high quality devices and services that adapt to the rigurous demands that any F1 Grand Prix has, meeting the demands of the media office and the organization at the circuit itself, including a permanent 24-hour service.

The ceramic components of Kyocera are not only integrated in our printing devices, giving them a greater durability and resistence, but they are also present in many other industries, such as some F1 cars where there are parts incorporating Kyocera’s ceramic components that have to cope with extreme temperatures.

HRT Formula 1 Team continues to progress firmly towards its objective of consolidating itself and growing and it now takes another step forward thanks to the partnership with the multinational Japanese company Kyocera. It’s another support for the young Spanish outfit who, thanks to the seriousness and hard work that it proves day by day, has more national and international companies willing to back HRT, contributing to its consolidation and progress in the pinnacle of motorsport.

Óscar Sánchez, KYOCERA Document Solutions General Manager: “A team such as HRT Formula 1 Team needs to be backed by the most advanced and reliable technology during the most demanding of championships. Kyocera has the latest printing machinery and a highly experimented staff, which makes us a leader in offering documentary services at any sporting events”.

Luis Pérez-Sala, Team Principal HRT Formula 1 Team: “Count on a renowned multinational company as Kyocera is amongst our partners gives us a confidence and calmness of great value for our day to day work. That calmness enables us to focus on pure competition aspects knowing that our backs are covered. Our needs in terms of printing, copying and scanning are high because the engineering, operations, marketing and communications departments are continuously putting the machines to the test and it is of vital importance that this work is not interrupted. In Formula 1 you work to the limit and Kyocera gives us the support and confidence needed to be able to do it”.

ABOUT KYOCERA DOCUMENT SOLUTIONS

KYOCERA Document Solutions is one of the world’s leading management solutions and document printing companies in the world. With a staff of almost 15,000 employees, its range of products and services includes ECOSYS printers, reliable multifunction printers, high-quality printer supplies, an array of software solutions and managed document services. KYOCERA Document Solutions offers innovative products built with long lasting components. Its clients benefit from the market’s lowest total cost of property and from the highest efficiency in any working environment. Its portfolio of solutions and its managed document services contribute not only to reduce the environmental impact but also to improve the efficiency and reliability of business.

Carbonell and HRT Formula 1 Team have signed a collaboration deal through which the leading olive oil brand will have its image present on the drivers’ overalls, whilst also forming a part of the exclusive culinary experience that the team has created alongside Arzak-Bokado.

The squad of Arzak-Bokado chefs travel with the team and have their operational base in the new motorhome hospitality during European races, whereas in overseas races they use the facilities provided by each circuit to maintain the same quality service. They offer a gastronomic experience that meets the different needs of team members and exclusive guests of the team, using fresh national products of the highest quality that characterize the extraordinary and renowned Spanish cuisine, whilst also leaning upon chefs and suppliers at each of the 19 countries visited throughout the season.

Besides the different menus, the gourmet experience also includes gastronomic activities at the circuit such as the “show cooking” or the “lightning pintxo”, which HRT offers every Grand Prix Sunday before the race for team members, guests, international press and organizers who travel the globe covering Formula 1 all to enjoy.

The presence of Carbonell, world leader in olive oil, will provide an extra contribution to that gastronomic experience whilst also enjoying an unbeatable platform for the brand because of the quality and worldwide reach of the team’s activities in a setting such as Formula 1. Carbonell has chosen the pinnacle of motorsport and HRT Formula 1 Team, the first and only team in the history of this competition to have its headquarters in Spain, to begin this unique culinary experience in Formula 1 and will also be the team’s exclusive brand for olive oil, olives and vinegar.

The agreement, which was signed by José María Collantes, Managing Director of Deoleo S.A, and Luis Pérez-Sala, Team Principal of HRT Formula 1 Team, at the team’s new headquarters in the Caja Mágica in Madrid, is valid until the end of 2012 with an option to extend. With this, Carbonell becomes the first Spanish food brand to be present in the Formula 1 World Championship.

Jose María Collantes, Managing Director Deoleo S.A: “The partnership between HRT, Carbonell and Arzak will enable to strengthen the link between Formula 1 and the gastronomic world thanks to HRT with an exclusive gourmet experience through which Carbonell will take part in every aspect related to the team’s kitchen, as well as all the culinary activities at the Grands Prix. By supporting such a popular sport as Formula 1, Carbonell will have great visibility and will secure its place as an innovative brand in the world of olive oil, vinegar and olives”.

Luis Pérez-Sala, Team Principal HRT: “It’s a great satisfaction for HRT to begin a partnership with Carbonell, a world renowned Spanish brand in the food sector. This association offers an opportunity to make the most of and strengthen the synergies of both companies on a worldwide base. Besides, Carbonell integrates perfectly with our gastronomic partners, Arzak-Bokado, to offer a gourmet experience made up of Spanish cuisine and fusion in the different countries where we compete. We thank Carbonell for the confidence they have deposited in us and we will continue to work hard to be competitive in an extremely demanding environment. With everyone’s effort we will reach our targets”.

ABOUT CARBONELL

For more than 145 years Carbonell has been present in kitchens and has created its oil taking close care of every step. Today, as a result of that experience and also of an innovation, Carbonell creates its oil following the Exclusive Carbonell Method® through which the best olives are chosen based on the origin, variety and moment of picking and a unique elaboration process is followed with which the essence of the olive is conserved.

Thereby, Carbonell is the brand that transforms dishes, in short, they give them soul, contributing some specific benefits (more nutrition; more pleasure; makes the normal special; turns the experience of eating into something sublime). Carbonell, the soul of your kitchen.

Carbonell belongs to Deoleo S.A., a Spanish food group that lists on the Spanish stock market and that is a worldwide leader in bottled olive oil, and that counts with the leading brands in the areas and markets where it operates, offering top quality products.

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?”

Mercedes is “on the verge” of quitting formula one.

That is the alarming claim of the London newspaper The Times, in an article written by its authoritative F1 correspondent Kevin Eason.

Eason wrote that while rival top teams Ferrari, McLaren and Red Bull will get to appoint directors once F1 is floated on the Singapore exchange, Mercedes has not been extended the same offer.

“Why should Mercedes have the same deal as the others?” F1 chief executive Bernie Ecclestone is quoted as saying. “What have they done in formula one?

“They won a race and that is it.”

That attitude, Eason argues, has left Mercedes “on the verge of quitting formula one”, having apparently conducted a study into how its Brackley based works team could be withdrawn.

Eason also quoted Ecclestone as having “scoffed” at the suggestion Mercedes quitting could wipe 20 per cent off the value of F1′s stock market floatation.

The fact F1 has chosen the Singapore exchange for the sport’s high profile floatation does not mean the city-state’s popular floodlit street race is guaranteed.

The night event’s existing five year contract runs out this year, although a two-year notice clause in the deal means Singapore should stay on the calendar at least until 2014.

On the face of it, a new deal seemed a certainty, given it was Bernie Ecclestone himself who chose Singapore as the location for F1′s forthcoming floatation.

“Formula one is known in Singapore, and Asia is thriving. It is a simpler market and not as restrictive,” he said recently.

Talks about a new race deal “are underway”, the local Business Times reported in March, “but it is understood that one sticking point is the sanction fee.”

An unnamed banker commented: “The Singapore government wants formula one to be listed here and for that to happen, it knows the race has to remain here.

“But at the same time, it doesn’t want to pay top dollar again. So the bargaining should continue for some time.”

However, the English language newspaper now reports that F1′s floatation plans, and the expiring Singapore race contract, could be entirely unrelated.

“We are in the process of negotiating a possible renewal of the (race) agreement and the outcome will be announced once discussions are complete,” said a spokesman for race promoter Singapore GP.

Second minister for trade and industry S Iswaran insisted that the mooted floatation will not influence the outcome of the race contract negotiations.

And the Singapore tourism board’s Aw Kah Peng added: “You’ve got to see whether the deal is right in every way.

“We’re hoping everybody sees value in it and we get a so-called good deal for Singapore, in terms of whether all the numbers can work out and everybody takes home something — a kind of a win-win proposition.”

Rumours that a top English premier league football club is entering formula one as a sponsor have proved correct.

Ever since Sauber has been running teaser ‘Out of the blue’ and ‘True blue’ graphics on its engine cover livery in China and Bahrain, speculation about the identity of the forthcoming sponsor have been swirling in the F1 paddock.

We reported the rumour that the deal could be with the Russian billionaire Roman Abramovich, to promote his football club Chelsea.

Swiss F1 team Sauber confirmed the “new and innovative partnership” on Monday.

“The C31 sporting the blue logo of Chelsea FC will be seen for the first time at the Spanish grand prix,” the Hinwil based team announced in a media statement.

“A partnership like this between formula one and football has never existed before in this form, yet there are numerous commonalities and possible synergies,” said Sauber chief executive Monisha Kaltenborn.

The statement said Chelsea will in turn display Sauber’s logo on its advertising boards and interview walls, ensuring one another “a significant market presence outside their original sport”.

Bernie Ecclestone has confirmed that Barcelona and Valencia will, from next year, alternate a single annual Spanish grand prix race date.

Currently, the two venues have their own places on the formula one calendar.

The Germany-style alternating scheme had been floated as a potential solution also for Spain, given the promoters’ financial struggles, and F1 chief executive Ecclestone’s need to free up calendar space for new races.

“Under the circumstances, especially the current economic climate, the best solution we could find was that we alternate,” Ecclestone told the El Pais newspaper when asked about Spain’s two F1 hosts.

He is unapologetic about the push – mainly at the expense of the sport’s European homeland – into new markets in the Far and Middle East.

“We are a world championship, and that means we have to be all over the planet,” Ecclestone said. “We are not a European championship.

“We should be grateful about how far we can go.”

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Save energy, Save world – Go green.

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.

More details about formula one’s planned stock market floatation have emerged.

Bloomberg, the financial news agency, said majority owner CVC is seeking $2 billion by floating “about 20 per cent” of the sport.

That would value F1 at about $10 billion.

The information was verified by “four people with knowledge of the matter”, the report said.

“CVC wants to conduct the sale in Singapore as early as June, and is in discussions with investment banks about its plans, which aren’t final,” Bloomberg added.

The report added that Bernie Ecclestone plans to keep his 5.3 per cent stake and will remain F1′s chief executive.

 If Caterham’s Mike Gascoyne was in the market for a McLaren driver, he would sign Jenson Button.
The green-clad team’s technical boss, Gascoyne, was at Renault in 2002 when it was decided to oust Button in favour of Fernando Alonso.

But a decade on, Gascoyne says the tables have now turned, as 2009 world champion Button now heads the 2012 points standings for McLaren.

“We weren’t wrong (to replace Button), Fernando won two titles very quickly, but Jenson has developed into a hell of a driver,” Gascoyne is quoted by the UK Express newspaper.

He said Button’s advantage over Lewis Hamilton, his highly rated teammate, is his mental strength.

“The difference right now is that Jenson can handle it when Lewis wins, but Lewis really struggles when Jenson does,” said Gascoyne.

Another of Button’s strengths, he explained, is his smooth driving style, which better conserves Pirelli’s highly-degrading tyres.

“Lewis is struggling to match that and then with his attacking style, the more aggression he puts in the harder it gets for him in the race,” said Gascoyne.

Comparing today’s Button with the 22-year-old of 2002, Gascoyne concluded: “Jenson is still the same nice guy, same talent, but mentally so very strong. Right now, Jenson would be the man for me.”

In an interview with Spanish agency EFE, Pedro de la Rosa summed up Button with the words “finesse and intelligence”.

 Singapore’s street race could be the key to the stock market floatation of formula one.
The Business Times reports that with the sport apparently wanting to float on Singapore’s exchange, the first step will be a new contract for the Asian city-state’s annual night street race.

The current race contract expires this year.

“Negotiations are underway but it is understood that one sticking point is the sanction fee,” the report said.

The Business Times said the Singapore government currently pays about $40 million for its race every year; a figure “roughly twice” the amount paid by Malaysia.

“The Singapore government wants formula one to be listed here and for that to happen, it knows the race has to remain here,” an unnamed banker said.

“But at the same time, it doesn’t want to pay top dollar again. So the bargaining should continue for some time.”

The banker added that F1 chief executive Ecclestone also holds a strong negotiating hand.

“(He) knows Singapore needs him because the SGX (exchange) hasn’t had any big names in recent years. Being the shrewd businessman that he is, he will play hardball.”