It is believed static electricity could have sparked Williams’ garage fire two weeks ago in Barcelona.

Even in the Monte Carlo paddock, the huge Spanish blaze was still a hot topic.

The British team and the FIA conducted investigations, but there has been no definite finding about the cause of the fire.

Germany’s Auto Motor und Sport reported suggestions simple static electricity, caused by the specific weather conditions and the fact a container was not grounded at the time, was the culprit.

Williams has scrambled to be ready for Monaco, but the only obvious sign of the fire on Wednesday was one missing mechanic, who is still recovering from burns.

“He’s on the road to recovery,” said co-owner Toto Wolff.

It is believed the mechanic was pumping fuel from one container to another when the fire started.

Wolff confirmed the static electricity theory.

“This is extremely rare. The weather may have played a role, as we had low pressure over Barcelona that day,” he explained.

Auto Motor und Sport said Williams lost mainly computers in the fire, but the crucial data survived. Of the team’s 150 radios, only 40 were intact.

Wolff said Bruno Senna’s chassis survived because of the partitions at the back of the main pit area.

“They are flame retardant,” he confirmed. “This meant the fire did not come beyond the back (area). The walls melted in the heat, but they didn’t burn.”

And financially, the Oxfordshire based team is completely undamaged, due to insurance.

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.

Lotus is the “biggest surprise” of the 2012 season so far, Red Bull’s team owner Dietrich Mateschitz has admitted.

In an interview with Austria’s Salzburger Nachrichten newspaper, the billionaire mogul was mildly critical of the “lottery” that is this year’s championship, with Pirelli’s unpredictable tyres setting the scene.

“That is going to continue,” Mateschitz said.

“Then it will gradually turn into a duel between McLaren and Red Bull Racing,” he predicted.

“Mercedes are still not able to keep doing in the race what they are doing in qualifying. So we are not convinced of their F-duct (double DRS) system and we won’t try to copy it.

“Ferrari needs to try the hardest to catch up. And Lotus are the big surprise for me,” he insisted.

Mark Webber appears headed for a new contract with Red Bull, after receiving a clear vote of confidence from the energy drink company’s chief.

Following speculation the 35-year-old Australian could be headed to Ferrari in 2013, Red Bull team boss Christian Horner insisted Webber “is happy to be here, and we are happy to have him with us”.

And the Swiss newspaper Blick has revealed that team owner Dietrich Mateschitz, the billionaire mogul, is also happy with Webber.

“I hope that he keeps driving with us for a long time,” the 68-year-old is quoted as saying.

Tony Fernandes has admitted he would have liked corporate Malaysia to have backed his formula one team.

The Malaysian entrepreneur founded a UK based start-up team in 2010, calling it Team Lotus before a bitter spat developed with the Lotus name’s owner Proton.

“While I was building a formula one team, I was being sued by my own countrymen,” he told The Star newspaper.

“We’re the only true formula one team developed in Malaysia.”

Now called Caterham, the team’s only Malaysian sponsorship is from AirAsia — Fernandes’ own low-cost airline.

“Never mind that we were not sponsored (by Malaysia), that’s a company’s prerogative,” he said. “But, we were sued.”

Some have accused Caterham of not having progressed much since 2010, but Fernandes strongly disagrees.

“Two years ago we had nothing. We’re now 1.5 seconds away from Red Bull who are the world champions. We’re closing the gap.

“You can’t build Rome in a day,” he insisted.

Sebastian Vettel has hit back at what he thinks was an “exaggerated” reaction to Michael Schumacher after the recent Bahrain grand prix.

Schumacher, Vettel’s countryman and friend, had heavily criticised the sport’s official supplier Pirelli, despite the Italian marque’s 2012 tyres being widely credited for the exciting grands prix seen so far this year.

“It’s been a bit exaggerated,” world champion Vettel, referring to the reaction to Schumacher’s comments, is quoted by Sport Bild.

“Ultimately, we all have the same tyres, but of course as a driver you always want more grip, whether from the tyres or from the car.

“It is in our nature to want more — more especially than the others,” he smiled.

“When I talk about this with Michael, it’s not so dramatic. He has been around for a long time and has seen a lot, also when it comes to tyres.

“I don’t think he is so easily shocked,” insisted Vettel.

* Energy drink Red Bull owner Dietrich Mateschitz made a rare visit to the sport’s action on Thursday, catching the final day of Mugello testing.

Rumours that F1 team owner Genii is contemplating buying the Group Lotus sports car company are continuing to gain steam.

That is despite Genii’s Gerard Lopez confirming recently that the Enstone based team has ended its sponsorship deal with the carmaker, even though the team will continue to carry the Lotus name.

But subsequent media reports indicate that the newly Malaysian conglomerate DRB-Hicom owned Group Lotus is for sale.

“Genii … is thought to be interested, and its boss, Gerard Lopez, is said to have had talks with Hicom, but also with (Group Lotus chief) Mr (Dany) Bahar about a possible management buyout,” read a report in the Independent newspaper.

Bahar is not ruling out the transaction.

“Whatever happens will happen,” he told the local Norfolk publication edp24.co.uk.

“Genii has expressed interest and if there is a good deal to be done, why should they not be interested? I think it would just make sense.”

Another theory about Force India’s absence from a practice session in Bahrain last weekend has emerged.

Word has it the Silverstone based team sat out the second session on Friday because staff were spooked by a Molotov cocktail incident and didn’t want to be returning to their hotels in darkness.

Officially, Force India said the decision to skip a practice session was for “logistical reasons”.

“None of the other teams seem to have a problem,” said Bernie Ecclestone last weekend. “Maybe (it’s) nothing to do with being in this country, maybe it’s something else.”

An event summary by Germany’s Auto Motor und Sport said: “There are rumours that Force India wanted to save its engines because they are short on cash.”

The team’s Bahrain crisis was handled by deputy chief Bob Fernley, in the absence of owner and principal Vijay Mallya.

Indeed, Indian Mallya does seem to have bigger problems, with the latest reports indicating he is considering selling 26 per cent of his flagship spirits company in order to rescue his dying airline Kingfisher.

A spokesman for JM Financial, representing Mallya, dismissed the suggestion as “factually incorrect and speculative”.

Organisers of the New York street race have hit back at Bernie Ecclestone’s claim the inaugural 2013 date might be delayed a year.

The F1 chief executive had announced a race on the streets of New Jersey for 2013, and recent photos showed that work on the main pit building is well underway.

But Ecclestone told the BBC this week: “Maybe the New York race will be 2013. It’s a (question of) when. 2013 or 2014.”

Some sensed that the surprise news might be a diversionary tactic by Ecclestone, who is under intense pressure to cancel this weekend’s highly controversial Bahrain grand prix.

Indeed, a spokesman for the 2013 New York street race has reacted to the 81-year-old’s news with surprise.

“There’s nothing to it,” the spokesman, Stephen Sigmund, is quoted by NJBiz. “The race is on, as scheduled, for 2013.”

The race site is predominantly in the Port Imperial development, owned by Roseland Property Co.

That company’s managing partner Carl Goldberg said: “As the primary land owner for the race site, we continue to plan and prepare for a June 2013 race.”

Nico Rosberg’s F1 breakthrough proves he is ready to fight even for the world championship.

That is the view of former grand prix winner, team boss and co-owner Gerhard Berger, following Rosberg’s first pole and win in China last weekend.

“It surprised not me, but all the others who had doubted him,” the Austrian told Auto Bild Motorsport.

“It was about time. I was worried,” Berger smiled, “because I have always said I thought Nico was faster than Michael (Schumacher).

“Now he is finally where he has belonged for a long time — in the same league as Vettel, Hamilton, Alonso and Button,” he insisted.

“And when the (Mercedes) car is good enough, he is already ready for the world title.”

Berger, then as BMW motor sport director, said he was instrumental in 2002 in convincing Sir Frank Williams to give the then 17-year-old Rosberg his first F1 test.

Also welcoming Sunday’s breakthrough is Nelson Piquet junior, another son of a world champion who actually went to kindergarten with Rosberg in Monaco.

“It’s funny how in F1 things can take so long to happen,” the Brazilian told Globo.

“It took him more than six years to get his first victory, which for me is a long time considering how good a driver he is,” added Piquet, now in Nascar.

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.

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.”

There are still some “gentlemen” in F1, team boss and owner Peter Sauber insists.

Amid the recent F-duct debate, it was suggested that Mercedes’ Ross Brawn had broken a teams’ ‘gentlemen’s agreement’ that the technology should not be pursued.

“I think you need gentlemen in formula one for this” Sport Bild reporter Ralf Bach jibed sarcastically during a news conference recently.

But Sauber, arguably one of the few gentlemen in the paddock, told Sonntagsblick that he still has some peers.

Asked if he was privately congratulated after Sergio Perez’s second place in Malaysia recently, the Swiss said: “Martin Whitmarsh, of McLaren, offered me a very nice congratulation.

“Franz Tost (Toro Rosso) wrote me a lovely text. And then Domenicali and the people at Ferrari; we have a very friendly relationship,” added Sauber.

As for whether there are many other gentlemen in F1, he insisted: “In this business, you don’t really ask this question.

“I didn’t know Colin Chapman. Ken Tyrrell was someone who appealed to me greatly, but he didn’t take us (Sauber) seriously. It was the same with Frank Williams.”

Indeed, in the paddock, scepticism and cynicism are more widespread, which explains why Sauber’s 2012 car – although fast throughout winter testing – was not regarded as a serious threat until mere days ago.

“We knew our car was good after the tests in Jerez and Barcelona. But the others just thought that we were running light, which is common when a team from the midfield shows something,” said Sauber.

Also amusing, according to Peter Sauber, is the story of Sergio Perez.

“A year ago it was said he just paid for his cockpit. So it makes me chuckle now when I see them say he is going to Ferrari,” he smiled.

F1′s Enstone based team will keep the ‘Lotus’ name until at least 2017.

It emerged late last week that the sponsorship agreement between the team formerly known as Renault, and the Proton-owned carmaker Group Lotus, has ended.

But the team will at least keep its new chassis name for the foreseeable future, the French sports daily L’Equipe reveals.

“We are pleased to keep the name,” said team owner Gerard Lopez, “because it’s a great brand for F1.”

Group Lotus confirmed: “The F1 team uses the strength of the Lotus name to promote themselves, and in return Group Lotus benefits from F1 exposure and the ambassadorship of its drivers.”

The carmaker confirmed that the “financial arrangement” between Group Lotus and the F1 team has ended.

L’Equipe said the Genii-owned team is currently in talks with a major North American company about becoming the new title sponsor.