There is trouble afoot at Monza, the scene of the famous and historic Italian grand prix.

On Tuesday morning, Italy’s finance police the Guardia di Finanza entered the Autodromo Nazionale to investigate seven people involved with the operation of the circuit.

According to Il Giorno and La Repubblica, the Monza prosecutor suspects tax offenses, false invoicing and other discrepancies in relation to Sias SpA, the circuit operator, between 2007 and 2012.

Among the suspected offenses is the issuing of invoices for non-existent transactions in order to show a positive balance sheet for the running of some events.

The officers raided the Sias offices and also the home of the circuit director, Enrico Ferrari, and other high ranking officials.

Formula one is worth about $8 or $9 billion, as the sport’s owner CVC confirmed it has this week sold a 21 per cent stake to new investors.

News of the sale coincided with the launch of pre-marketing ahead of one of the biggest ever sports floatations, data by the financial experts Thomson Reuters shows.

“It’s cheap compared to Facebook,” chief executive Bernie Ecclestone told reporters on Tuesday, confirming that the Singapore IPO looks set to go ahead soon “with no dramas”.

“All the things that have to happen have happened. It will be finished by the end of June,” the 81-year-old is quoted by the Telegraph.

F1′s new one-fifth owners are US managers Waddell and Reed, the powerful Blackrock and Norway’s central bank Norges.

“It’s a great way to start the IPO and lets investors know what they can expect,” said Ecclestone.

The diminutive Briton said he is keeping his 5.3 per cent stake, and staying in charge. His former wife Slavica controls another 8.5pc, the news agency Bloomberg said.

“You might as well have asked Frank Sinatra who he would appoint to replace him,” Ecclestone insisted.

CVC said in a statement that is remains F1′s biggest and controlling shareholder.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Charlie Whiting has defended the decision in Spain to move Lewis Hamilton from pole to the very rear of the grid.

Although McLaren was widely criticised for making a grave error, the stewards’ penalty was at the same time described by the world’s press as “draconian”.

“Quite frankly I did not expect the penalty that we received,” said McLaren team boss Martin Whitmarsh.

Indeed, given that McLaren’s fuel indiscretion occurred only in the decisive Q3, why not simply delete Hamilton’s Q3 laptimes, thereby putting the Briton mid-grid for the race?

“We had no room to move,” Whiting, the FIA’s race director, responded to Germany’s Auto Motor und Sport when told that Hamilton’s penalty seemed too severe.

“If there is a violation, it applies to the whole session, not just part of it,” he insisted. “Qualifying begins with Q1.”

Whiting explained that if Hamilton had only lost his Q3 time, a precedent would have been set tempting teams to risk not being checked for the mandatory 1 litre fuel sample in post-qualifying scrutineering.

Auto Motor und Sport said only one or two fuel samples are actually checked after qualifying at grands prix.

Competitors could, therefore, genuinely “run the risk” of using less fuel than is allowed in Q3, if the penalty for being caught is relatively light, Whiting argued.

He recalled last year’s German grand prix, when Sebastien Buemi was sent to the back of the grid because his fuel sample showed irregularities.

As it was not possible to check if the illegal fuel had also been used in Q1 and Q2, the Toro Rosso driver had to be disqualified from qualifying, Whiting argued.

Two days after winning in Spain, Williams is scrambling to put together the equipment it needs to contest next weekend’s Monaco grand prix.

Mere hours after Pastor Maldonado secured the once-great British team’s first victory since 2004, a huge fire broke out in the pits, leaving one team member still in a Barcelona hospital with burns.

“His family are in constant communication and he is in good spirits,” Williams said in a media statement.

The Oxfordshire based team is now making efforts to ensure it can race in Monte Carlo, having lost a lot of equipment in the fire.

Mercifully, however, Bruno Senna’s car appears to have survived, with the Finnish broadcaster MTV3 saying an initial inspection of the chassis showed no devastating damage.

Maldonado’s winning car was in parc ferme at the time of the incident.

“We had a lot of damage and lost a lot of equipment, including IT equipment,” chief operations engineer Mark Gillan said, according to the Daily Mail.

“Over the next couple of days we will be looking at where we are parts-wise.

“We will have everything we need to run operationally at Monaco, but we may be missing a few of the extras because obviously we don’t carry a complete set of spares for everything,” he said.

It is believed more than one rival team has offered to help Williams by loaning the Sir Frank Williams-led outfit any equipment it needs.

A McLaren spokesman confirmed the Woking based team has offered to help.

Germany’s Bild newspaper said Williams’ damage bill runs into the millions.

Team manager Dickie Stanford denied a rumour the fire was caused by a cigarette in the vicinity of Senna’s fuel tank while it was being emptied.

“We don’t know the cause, but we would never allow smoking in the pits,” he insisted.

Williams and F1′s governing FIA are investigating.

F1′s astonishing season continues to live up to the hype, as a fifth driver and constructor on Sunday won the fifth grand prix of 2012.

Not only is the victory Pastor Maldonado’s first, his walk up the steps at the Circuit de Catalunya was the first taste of the podium in his two-season F1 career.

It’s also the first Venezuelan triumph in the sport’s history, and a hugely popular victory for Williams, the once-great British team headed by Sir Frank Williams, whose 70th birthday was warmly celebrated in the paddock on Saturday.

“Boy did we need that,” said Williams on BBC television.

And asked how he feels on Sky television, he smiled: “Relief.”

“Some said Maldonado was a pay driver and he didn’t deserve his place in formula one but they’ll be eating their words now,” commented former team driver David Coulthard.

“That was a fantastic drive,” added Coulthard, referring to Williams’ first win since Juan Pablo Montoya in 2004.

Williams enthused: “I didn’t see him (Maldonado) make one single mistake.”

“You can’t really fault him,” agreed Williams’ 1996 world champion Damon Hill.

Amazingly, however, away from the champagne, Sebastian Vettel’s sixth place leaves him at the top of the drivers’ championship, and he is now neck-and-neck with Fernando Alonso, who finished second on Sunday in the improving Ferrari.

Lewis Hamilton, who finished dead last on Sunday and finished eighth, is third in the points classification, ahead of Lotus’ Kimi Raikkonen.

Finn Raikkonen finished third on Sunday, and is the favourite to become F1′s sixth different winner of 2012 in Monaco in a fortnight.

“We showed we still have the speed,” the Lotus driver said after the Spanish grand prix. “If we had a few more laps, we could have fought for a victory.”

Former F1 driver Mika Salo believes his Finnish countryman Valtteri Bottas is being groomed by Williams for a race seat — in 2012.

When the Toto Wolff-managed Bottas, 22, was announced as the British team’s 2012 reserve, Sir Frank Williams said he would practice on 15 Friday mornings and then “most likely” be replaced with a “more experienced driver” for the rest of those race weekends.

That more experienced driver would ultimately turn out to be Bruno Senna.

So with Brazilian Senna struggling so far in 2012, Salo has revealed he senses things could be about to change.

“Bottas is incredibly respected by the team,” Salo, now a commentator for the Finnish broadcaster MTV3, said.

“When I spoke with Frank Williams, he praised Valtteri to the skies, and said that he belongs in the races.

“I asked him when and he said it wouldn’t be long.

“Yes, I read between the lines that he means this season,” added Salo.

One major spanner in the works, however, is that Senna brings crucial sponsorship to Williams.

“It is a difficult situation for Williams, where both drivers bring money,” Salo acknowledged.

“But the good thing is that Frank Williams is not a businessman first, he is an old racing driver. He thinks about nothing else but how to make his team successful.

“Although Senna is a nice guy, he is not able to drive at the level that he needs to be at.”

When asked about Salo’s theory, Bottas commented: “I have no information.”

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.

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 team bosses turned out in force as officials insisted next month’s Bahrain grand prix is definitely on.

The sport’s chief executive Bernie Ecclestone joined Sir Frank Williams, Martin Whitmarsh, Christian Horner, Mercedes’ Nick Fry and Pirelli’s Paul Hembery at a media lunch in London.

“Talk about heavy support,” wrote Reuters correspondent Alan Baldwin on Twitter.

The self-described ‘PR offensive’ to promote the forthcoming Bahrain grand prix followed reports earlier this week that said the FIA had decided to cancel the race due to ongoing unrest in the island Kingdom.

“It’s all nonsense. We’ll be there as long as they want us,” said Ecclestone.

“Seriously, the press should just be quiet and deal with the facts rather than make up stories.”

If it was up to the drivers, though, they might give it a miss. Timo Glock is a brave lone voice: “Why should we expose ourselves to unnecessary risk?” he asked rhetorically.

“If it was up to me, we wouldn’t go there,” he told Germany’s Auto Motor und Sport.

Bahrain circuit boss Sheikh Salman bin Isa Al-Khalifa, however, dismissed the risk of violence.

“These incidents can happen anywhere,” he told AP news agency. “It’s not going to stop our grand prix.”

Ecclestone added: “I don’t need any personal security, but whatever’s necessary will be looked after.”

According to a poll in popular British magazine F1 Racing, 60,000 of the 100,000 F1 fans polled internationally said it is “not right” for the race to go ahead.

Looking forward to the event, however, is the Bahrain Centre for Human Rights.

Nabeel Rajab, the president, is quoted by the Telegraph: “(F1) is helping dictators and we are going to protest.

“We are going to use the opportunities that a lot of journalists are there and we are going to protest everywhere.”

 Jenson Button has dreamed up a new victory salute, after growing weary of last year’s “crooked finger”.
McLaren’s Button, who beat reigning double champion Vettel to victory last week in Melbourne, admitted last year that the German’s winning salute had started to grate his nerves.

“He keeps doing that,” Button grimaced a year ago, demonstrating Vettel’s awkward index-finger salute that always followed the Red Bull driver’s latest pole or victory.

“It would be alright if it was straight.”

At one point, just after yet another Vettel pole, the young German saluted the ranks of photographers with his finger, and Button jokingly attempted to bite it off.

So, after winning in Albert Park ahead of Vettel in the 2012 opener last weekend, Button unfurled a new salute.

Asked if Vettel will now get sick of the two-handed ‘W for winner’ gesture, Button smiled: “Hopefully he will.

“I actually did the ‘W’ with a water bottle in my hand, which didn’t really work very well,” said the Briton.

“I’m sure we will sometimes see the crooked finger but hopefully not very often this year.”

 Nico Hulkenberg has played down the link between Vijay Mallya’s struggling Indian airline Kingfisher and the billionaire’s formula one team Force India.
According to mainstream media reports, debt-ridden and loss-making Kingfisher is on the brink of collapse.

And new speculation swirling in the Melbourne paddock this weekend suggests the situation could affect Silverstone based Force India.

“The rumours are nothing new,” the team’s new race driver Nico Hulkenberg told Frankfurter Rundschau newspaper.

“The problems (with Kingfisher) have been there for over a year. But it’s nothing to do with us, it’s another business — this is formula one, not an airline,” said the German.

“I can’t judge what is happening to his business. I just know that he (Mallya) is still motivated and for sure will be here for many races,” added Hulkenberg, who qualified ninth for Sunday’s Australian grand prix.

India’s Economic Times this week reported that Mallya has pumped an extra $32 million into Force India via his personal investment company Watson and the sponsorship of Kingfisher’s beer and spirit arm.

Official track action in 2012 has now begun, but the pecking order is still totally unclear.
“The tea-leaf reading will go on until after the third practice session (on Saturday),” Peter Sauber told Switzerland’s Blick.

Only after that one-hour session will Melbourne qualifying be looming, but many paddock insiders believe Malaysia – a more ‘normal’ circuit – will be a better barometer.

The confusion is greater in 2012 because the field is apparently so tightly packed.

“I’ve never known it as open as this,” said McLaren’s Jenson Button, who set Friday’s fastest laptime. “Never.”

Lewis Hamilton agreed: “I’m convinced that Red Bull, Mercedes and us are equal.”

Red Bull, however, is widely believed to be the frontrunner, but Sebastian Vettel and Mark Webber said they were unhappy with the balance of the RB8 on Friday.

“We still have a lot of work to do,” said Webber.

Also unclear is just how good the new Mercedes is, after Michael Schumacher in second practice returned to the ‘P1′ position he had become so familiar with in his first career pre-2010.

“When I saw the (W03) car on track I immediately sent a text to Norbert (Haug),” Alex Wurz revealed to Sport1, “(saying) ‘looks very good’.

“I honestly have to say they are not yet on Red Bull’s level, but they are not too far away,” the former F1 driver, who is in Melbourne as Williams’ new driver mentor, added.

It seems clear that Ferrari ranks somewhere beneath the top trio, and Spain’s Marca newspaper reports that a substantially-redesigned chassis will not get up and running until the European season begins in mid-May.

“We definitely haven’t seen the real picture yet,” Fernando Alonso is quoted by Germany’s Auto Motor und Sport, after going fourth quickest in both of Friday’s sessions.

“Vettel is not as bad as tenth,” he insisted, “and Kovalainen is not as good as eighth.”

Red Bull’s Christian Horner admitted: “Qualifying will be the first time we have driven with empty tanks.”

Team advisor Dr Helmut Marko added: “We are satisfied, it looks quite good. But McLaren is very strong, and the Mercedes (cars) will be in the top five.”

Triple world champion Niki Lauda told Germany’s Speed Week: “I am sure the championship this year will be decided later that it was in 2011.

“The top cars and the whole field appears to be closer together — it could be a great season.”

 Two teams are in danger of sitting out Sunday’s Australian grand prix.
“The idea, here, is to qualify for the race,” Marussia’s Timo Glock told Frankfurter Allgemeine Zeitung newspaper from Melbourne.

The hurdle that the struggling former Virgin team – as well as HRT – must get over, is the 107 per cent rule in Q1.

It is an even higher hurdle than last year, because Pirelli has made its harder tyres softer in 2012 — meaning the difference between the tyres being used by the quickest cars and the slowest cars in Q1 will be smaller.

More bad news is that Red Bull has brought new parts to Australia that could make qualifying-specialist Sebastian Vettel even faster on Saturday.

“If that’s true then the qualifying test for us – with zero kilometres under our belts – is almost impossible,” admitted Glock.

At HRT, the situation is arguably worse — especially for Pedro de la Rosa, who was little more than a spectator on Friday as the Spanish team built up his Cosworth-powered car at the eleventh hour.

“Keep smiling, be patient,” he is quoted by Auto Motor Und Sport, when asked what his mantra is in Melbourne.

“We need to think more in the medium term. We are experiencing the birth of a new racing team.

“For us, this year is not just about getting the new car up and running — over the next months, we are taking the whole team to Madrid.

“At the moment we are still operating from Madrid, Valencia and Munich,” he explained.

The Spanish team’s new boss Luis Perez Sala agreed that qualifying at Albert Park is a big ask.

“For us it has been almost a success just to be here in Melbourne because it has been very tough,” he said on Friday.

As for the 107 per cent rule, “It will be difficult for us,” said the former Minardi driver.

“I’m not thinking now about the speed of the car, I’m just trying to get all the things done that we need to do as best as possible to get into (practice) tomorrow.”

He said HRT will try again next weekend, in Malaysia.

“I would like them (the team) to relax a bit and we will see. Malaysia? Shanghai? Whatever.”

 Mercedes could be set to surprise the entire F1 world by setting the pace in 2012.
That is the claim of the German magazine Auto Motor und Sport, having found that the W03 had the strongest ‘long run’ pace during recent pre-season tests.

The major daily Bild agrees, crowning the Ross Brawn-led team the “Bluff champion!” of the winter.

“The analysis of recent testing in Barcelona shows that Mercedes are even faster than Red Bull,” the report exclaimed.

Brawn is quoted by Brazil’s Globo: “You always believe it. You want a winning car, and I have not seen anything that tells me that we don’t have (now).”

Perhaps even more sensationally, Sauber ranked second in the Auto Motor und Sport analysis of long runs, although last year the Swiss team looked similarly fast in testing.

Red Bull, McLaren and Lotus come next, followed by the struggling Ferrari.

Peter Sauber wrote in Blick newspaper: “It has never been as difficult as it is this year to get a picture of where everybody stands.

“Why? Because the field has never been so close together.”