Williams will not rush into signing a new title sponsor, chairman Adam Parr insists.
The famous British team performed woefully in 2011 and lost its naming backer ATT, yet recently revealed improved turnover and profits.

And Parr told Reuters the Grove based team has more than $45 million in the bank.

“I am very satisfied with what we have done overall with the business,” he said.

“We don’t have a title sponsor at the moment and obviously that’s an important initiative for us. But it’s something that you have to get right because your title sponsor is the most visible of your partners,” Parr explained.

“In many ways, it sets the character of the team. You want a title partner who is very active in the way they promote and activate the partnership.

“This is not something we are going to rush into, this is something we want to get right.”

For the moment, Williams’ main source of income appears to be the controversial deal with Venezuela’s state-owned oil company PDVSA, including Pastor Maldonado as driver.

“PDVSA is an important partner of the team in financial and other respects but it is by no means the only one,” insisted Parr.

 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.

AUSTIN, Texas — February 13, 2012— Circuit of The Americas is the newest member of the Green Sports Alliance, a non-profit organization made up of more than 40 professional and collegiate sports teams and nearly 90 sports venues with a mission to help sports teams, venues and leagues enhance their environmental performance. Circuit of The Americas will be the first Formula One™ racing facility to become a member of the Alliance.
“Circuit of The Americas and the City of Austin have taken a bold stand with their sustainability plan for the sports and entertainment complex,” said Martin Tull, executive director of the Green Sports Alliance. “We welcome Circuit of The Americas into the Alliance and look forward to working with them.”
The Green Sports Alliance is a unique coalition of sports teams and venues, professional sport leagues, the Natural Resources Defense Council, and the Bonneville Environmental Foundation, working with the U.S. Environmental Protection Agency and other environmental and green building experts.
“I applaud the Circuit’s commitment to setting a standard for sustainability in North American motorsports,” said Lucia Athens, chief sustainability officer for the City of Austin. “Joining forces with the Green Sports Alliance will increase their green horsepower and put Austin on the map yet again for its leadership and innovation. The Green Sports Alliance has been providing expert technical assistance to many of the sports leagues, and can now assist motorsports in achieving greener results.”
Members in the Green Sports Alliance share best practices to improve the environmental performance of their venues, saving millions of dollars through energy and water conservation, waste reduction, recycling and composting. By tracking environmental performance, sports facilities learn how they compare to their counterparts and how to maximize sustainability efforts. Alliance members have reported reductions as high as 30 percent in energy usage, 60 percent in natural gas use and more than 20 percent in water use.
“We are excited to be collaborating with the best minds in sustainable facility management,” said Edgar Farrera, sustainability director at Circuit of The Americas. “We look forward to developing new approaches to environmentally sustainable operations at our facility and sharing what we learn with organizations and companies around the world.”
About the Green Sports Alliance
The Green Sports Alliance is a non-profit organization with a mission to help sports teams, venues and leagues enhance their environmental performance. Less than a year since its public launch, the Alliance is made up of representatives from over 40 teams from 13 leagues and 90 sports venues, the Natural Resources Defense Council, Environmental Protection Agency, Bonneville Environmental Foundation and many other organizations.
Its second annual conference, the Green Sports Alliance Summit, will be held on Sept. 5-7, 2012 and will bring together hundreds of facility operators, team executives, league officials,
environmental experts and corporate partners to discuss innovations in environmental performance.
For more information about the Green Sports Alliance visit: www.greensportsalliance.org.
About Circuit of The Americas
Circuit of The Americas will be a world-class destination for performance, education and business. It will be the first purpose-built Grand Prix facility in the United States designed for any and all classes of racing, from motor power to human power, and be the U.S. home to the 2012 FORMULA 1 UNITED STATES GRAND PRIX™ Nov. 16-18 and V8 SUPERCARS.
The Circuit of The Americas’ master plan features a variety of permanent structures designed for business, education, entertainment and race use. Its signature element will be a 3.4-mile circuit track with capacity for 120,000 fans. Other support buildings will include a medical facility, a conference center, a banquet hall as well as an expansive outdoor live music space. Future proposed amenities include a driving/riding experience, a motorsports driving club, kart track, grand plaza event center and tower, and a trackside recreational vehicle park.

Christian ‘Toto’ Wolff has admitted he might increase his minority stake in the Williams team to 49 per cent in the future.

It emerged last week that, alongside founders and long-time owners Sir Frank Williams and Patrick Head, the stake bought by Austrian entrepreneur Wolff in 2009 was 10 per cent.

“I can confirm it is 10 per cent,” he is quoted by the German-language motorline.cc.

“But I have an option to increase my minority stake to a strategic investment.”

The publication said Wolff’s share could increase to as much as 49 per cent, also quoting him as saying he would consider exercising the option “in time”.

But he rejected British reports that the Oxfordshire based team is in financial trouble and struggling with losses and debt.

“If you look at the last 12 months, 2009 for us was a good and very profitable year,” Wolff insisted.

With just three races left to run in his rookie season, Nico Hulkenberg admits he is still yet to sign a new contract for 2011.

It is believed that while Williams has secured the services of veteran Rubens Barrichello for another year, the Grove based team is looking seriously at the $15 million in sponsorship offered by Hulkenberg’s successor as GP2 champion, the Venezualan Pastor Maldonado.

That would leave 23-year-old German Hulkenberg without a seat, despite arriving on the F1 grid just seven months ago with arguably a more impressive formative racing record than Lewis Hamilton.

“I’m doing my job and I’m confident about what I’m doing,” he is quoted by the German-language Speed Week.

“I cannot do more.  I would like to stay with Williams because I believe next year’s car will be competitive, because I feel comfortable in the team and get along with my teammate very well.

“I’m hoping for a new contract,” added Hulkenberg.

But the British tabloid The Sun believes dramatically that the ‘Hulk is facing incredible axe’, with Force India’s Adrian Sutil also linked with his seat and reportedly offering $3m in backing.

Another report in the Evening Standard recently said Williams’ combined losses in the past five years amount to more than $9 million, with profits falling 50 per cent last year on top of millions in debt.

Williams’ minority co-owner Christian ‘Toto’ Wolff is known to be a keen Hulkenberg supporter, but he admits the team’s driver situation is presently in the air.

“At the moment everything is possible — we are currently trying to get as much information as possible,” he said in an interview with motorline.cc.

“Generally speaking, the team is making great progress,” added Austrian Wolff.

Organisers of the Japanese grand prix say they would like to continue to host the formula one race at Suzuka beyond the 2011 contract.

But with Honda, Super Aguri, Toyota and the popular Takuma Sato all departed, and Bridgestone supplying tyres for the last season, Suzuka and Kamui Kobayashi and Sakon Yamamoto represent a fading Japanese involvement in the sport.

“It’s under discussion, but we would like to continue,” Itaru Yamada, motor sport managing director of the Honda-owned Mobilityland company, told Reuters on Sunday when asked about a new race contract for 2012.

Despite eager fans happily and patiently sitting under Saturday’s torrential rain, the media report said there are 50,000 fewer spectators at Suzuka on Sunday compared with four years ago.

And Yamada said the event is currently only marginally profitable.

The winner of Bruno Senna’s helmet competition is certain – the design is to remember his unforgettable uncle Ayrton

HRT driver Bruno Senna had advertised a competition in which fans worldwide were able to design a helmet that is to remember his uncle Ayrton. The three-time world champion had on 21 March’s 50th Birthday celebration. The winning design will Senna contribute one of the remaining races. Over 500 proposals were submitted and in the end it went to very short. Finally, the design of the Brazilian Rai Caldato was named the most beautiful.

Among five finalists selected Senna himself, his family members and the designers of Ayrton unmistakable yellow helmet in the winner. Caldato finally got 8892 votes. Another Brazilian, Bruno Mantovani has led to the final round, but had to admit defeat with 8093 votes.
The winner will now look forward to his helmet from Senna is worn on a race weekend. Where and when will this happen, soon to be announced. Caldato will get a replica of the helmet that is signed by Senna. Given a signed photo with the head protection is worn. The original helmet will be auctioned and the profit goes entirely to the Ayrton Senna Foundation.

Who has not dreamed of as a VIP to a Formula 1 weekend quite get close to the Grand Prix stars and their cars? The nonprofit United Charity Foundation makes now open.

Until 16 July online can be increased by a VIP package for the Hockenheim Ring, which includes access to Mercedes-lounge including entertainment and catering. There is also on Saturday ahead of qualifying a tour of the paddock and in the evening a visit to the “Night of the Stars” to the all Formula 1 drivers are expected.

Mercedes motorsport boss Norbert Haug is a personal goal to help them in the Laureus Foundation. The auction proceeds will be forwarded without a cent deduction to the Laureus charity project “Kick in the boxing ring.”

Jun.8 (GMM)  Hankook is no longer in the running to supply tyres to F1 teams in 2011, but the Korean company is not ruling out another bid within the next “two or three years”.

Michelin, Kumho and Avon were also interested in replacing the sport’s departing official supplier Bridgestone, but it is believed Pirelli is now in pole position for the deal.

But executive vice president Hyan Bum Cho told the Sydney Morning Herald that Seoul-based Hankook might be interested in succeeding the Italian marque.

“Currently we do have a little Le Mans team, and some rally teams here and there, and we try to sell some motor sports tyres,” he is quoted by the Australian newspaper.

“In the future we want to have some hefty market share in that segment.  It’s quite profitable, but in order to really leverage from motor sports in terms of brands, you need to participate in either world rally championship or a very high segment in Le Mans, or formula one,” added Cho.

“So in the future that’s the target that we have, to participate in those segments.  And that’s going to cost a lot of money, a lot of development cost, a lot of investment, and also how to run these operations with experience.”

Hankook’s Cho confirmed that becoming the new formula one supplier next year was discussed.

“Probably you know that Mr Ecclestone has some trouble with tyres this year.  I talked to him personally (but) we decided not to go on with the programme.

“He needed a tyre very, very quick, and we could not prepare it,” Cho admitted.

“But we had a very good talk and maybe we’ll have a shot for next term, or another term.”

Ferrari insists it would only “waste time” to respond to Max Mosley’s latest controversial claim.

As Ferrari celebrates its 800th grand prix in Turkey this weekend, the former FIA president is quoted by British newspapers as saying Luca di Montezemolo last year urged him to abuse his power and fix the outcome of the double diffuser appeal case.

“He was on the phone every day saying, ‘you have got to sort the Court of Appeal out and make sure we win’,” Mosley, referring to Ferrari’s charismatic president, is quoted by the Daily Mail.

“He didn’t put it as baldly as that but that is what he said.  I said, ‘Luca, I’m sorry, but first of all they wouldn’t take any notice and secondly I am not going to do it’,” he added.

A spokesman for the famous Maranello based team responded: “We don’t want to make any comment.  It is better to look ahead and not waste time talking about what is – luckily – old and gone.”

With 70-year-old Mosley indeed departed and the sport generally enjoying Jean Todt’s new regime, one team boss in Turkey insisted that the good work of the former FIA president is not forgotten.

As Williams’ Adam Parr told reporters that the Grove based team recorded a small profit in 2009, he credited Mosley for the team’s mere survival.

Referring to rule changes including the testing ban and long-life components, he is quoted by The Times: “Whatever you say about Max, the only possibility of an independent formula one team existing is because of what he did.”

(GMM)

According to reports in the financial media, F1 engine supplier Cosworth could soon be floated on the stock exchange.

The reports estimated the value of the flotation at about (US) $360 million, following the famous British marque’s return to F1 with Williams and all three of the new teams.

Main investors Gerald Forsythe and Kevin Kalkhoven, who bought Cosworth from Ford in 2004, are reportedly considering the move as profits are expected to surge from $2m in 2008 to more than $70m this year.

The reports said auditor Deloitte may have been hired for the initial public offering, and a source admitted that business has picked up dramatically since the company laid off 200 staff when it dropped out of F1 at the end of 2006.

The Northampton Chronicle quoted a spokesman as saying on Tuesday: “As with any company that enjoys a particularly successful period, there is speculation that they will float. Those things go hand in hand.”
(GMM)

Michael Schumacher and Martin Whitmarsh have accused some team bosses of wanting “chaos” and “controversy” to reign on the streets of Monaco this weekend.

At a meeting last week in Barcelona, the bosses voted on a drivers’ proposal that ‘Q1′ qualifying be split into two parts for this weekend’s fabled street event.

With a busy grid in 2010 and six cars that are not up to speed, drivers fear not only that the traffic will impede their ability to set proper lap times, but that the situation could be dangerous.

But Lotus team boss Tony Fernandes admits to having vetoed the vote, arguing that he wants F1 “to be exciting … to be unpredictable”.

McLaren’s Whitmarsh expects the unpredictability to be in the form of a litany of stewards enquiries about blocking.

“There are those, and I’m not one of them, who feel that controversy and stewards’ hearings after the event are entertaining.  I don’t share that view,” he told reporters earlier this week.

Seven time world champion Schumacher also expressed disappointment with Fernandes’ line of reasoning.

“Some team bosses felt that they’d rather have the chaos and may take the profit from (that) than to have a reasonable, clean qualifying,” he said on Wednesday.

“Let’s see who has to suffer or not.”

Almost every driver, from either end of the grid, spoke on Wednesday about the traffic situation.

Spanish reports quote Fernando Alonso as neatly summarising: “It will definitely not be easy, but it’s the same for everyone.”

(GMM)

Virgin Racing, one of the new four cars of this season, this Thursday completed its first tests at the British Silverstone circuit, with the German pilot, Timo Glock at the wheel of the VR-01.

“To see the VR-01 in action was a wonderful moment for me and for all the team.  It’s great to be back in the racetracks,” said the pilot at the end of the testing session.
On the other hand, Nick Wirth, Technical Director pointed out that the 10 month effort of the team paid off.  “Today were the first steps, but the program will really be in action tomorrow, with a full day of evaluation in Timo and Lucas di Grassi’s racetrack.”

Analysis of the new Virgin VR-01

Leaving aside the beginning of his campaign in the media, Virgin made clear at all times that Wirth was going to design the car totally with CDF technologies.  The team believes it’s the most profitable solution.

With scarce time for tests, the VR-01 has already passed the FIA-required crash tests and has rolled its first laps in the British circuit of Silverstone.

Aside from its very attractive line, the VR-01 has quite simple front wing endplates.  And we say simple because it currently does not incorporate a system for the driver to modify the angle of attack of the upper element.  Yet, we will surely see more developments in before it runs in Bahrain.

The nose follows the trend to copy the Red Bull  V nose concept (as well as the rounded underside), and it also has a sharp tip, almost as low as on the Mercedes GP (but longer).  The front wheel suspension is mounted like a unique keel system.  Seems as though the chassis has a small keel under its nose for the lower wishbone.

Rather unusual for new cars are the front brake ducts.  Even though most of the teams have opted for the highest possible position for the ducts, the VR-01 has them pointing downward, attempting to catch the air from under the front wing.  It’s important to consider that in this area, the air can flow faster and be a bit less dense.

The front part of the sidepods is clearly inspired in Brawn’s BGP001 and it’s also quite similar to the 2010 McLaren 2010.  Small and high combined air inlets must prevent an efficient flow of air around the sidepods, providing more potential downforce in the rear end.

This configuration of the sidepod panels will surely help to achieve this goal.  The racing car seems to be quite developed in the middle zone, though the way the mirrors are mounted and their place came as a surprise.

Just like the new Ferrari, the sidepods are rather lean and without sharp curves.  In both cases, the designers opted for a long car capable of placing all the components near the center line.  This Virgin, as well as the Ferrari could be around 5.5 meters long, 70 cm longer than the Mercedes.  While this may prove beneficial in the fast circuits, in twisty road tracks they may become a challenge.  We’ll see…

The back end of the car seems to have some influence from last year’s Red Bull, as for instance, the aggressive slope.  While this puts the upper wishbone mounts completely in view, the suspension system is still a push rod design.

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