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.

Ferrari has played down rumours it is close to immediately ousting Felipe Massa, insisting it is possible the struggling Brazilian will still be in a red car next year.

On Twitter, the famous Italian team said the latest rumours – including a claim that former Virgin driver Jerome d’Ambrosio is a candidate to replace Massa in 2012 – are “funny”.

But it was Ferrari itself who fuelled the speculation, publishing a statement on its website that read like a warning to Massa.

“It was a very carefully-worded statement, wasn’t it?” said Telegraph correspondent Tom Cary.

“The way this crazy season is going, I really would not be massively shocked if they ditched him mid-season.”

The Swiss newspaper Blick said Monaco next weekend could be the 30-year-old’s last chance to up his game.

And the candidates are lining up.

“Ferrari knows that I’m ready. If they need me or they want me, then they will call me,” Adrian Sutil, who accompanied his manager to last weekend’s Spanish grand prix, said.

The Spanish newspaper El Mundo said some paddock pundits believe “the only reason” Massa still has its seat is because the “name Todt” – a reference not only to Massa’s manager Nicolas but to the FIA president – has a “protective arm” around him.

Ferrari spokesman Luca Colajanni told Brazil’s O Estado de S.Paulo newspaper this week: “Felipe has the full confidence of the team, starting with our president.

“We have not decided who will be our driver in 2013 but Felipe is not ruled out,” he insisted.

Indeed, while some believe Ferrari has hung a sword of Damocles above Massa’s head, others think the Maranello based team have been patient since the Paulista’s recovery from his near-fatal head injuries of 2009.

“We have no evidence that makes us think that Felipe has slowed down because of the accident. Zero,” Colajanni said.

F1 doctor Gary Hartstein agreed: “An experience like that (Hungary 2009) changes you, but you can’t say that’s why Felipe has not won again.”

The drama stepped up a notch even after the chequered flag in Barcelona.

A couple of hours after Williams’ first win since 2004, something exploded in the British team’s garage, triggering a major fire.

Team members and fire crews battled the blaze as paddock regulars scrambled away from the heavy smoke and police arrived on the scene.

The Telegraph’s Tom Cary said on Twitter there are “multiple injuries”.

It is believed Williams, Force India and Caterham staff – some of whom bravely fought the fire – are being treated in the medical centre, some for smoke inhalation.

An emergency helicopter will ferry others to hospital.

“Couple of our guys got injuries, burns and maybe one broken wrist, no news on Williams guys I hope they’re ok,” wrote Caterham’s Heikki Kovalainen on Twitter.

Rumours indicated the fire could have been caused by a KERS explosion, or possibly fuel, as a burned fuel rig was pulled from the gutted garage.

The penalty might be harsh, but the loss of Lewis Hamilton’s pole in Spain is just the latest calamitous mistake by McLaren.

That was the tone of the paddock’s reaction to the news late on Saturday that a McLaren gaffe saw the FIA send Hamilton from first to last on the Spanish grand prix grid.

The Sun newspaper called it a draconian “24-place grid penalty” imposed by the FIA after an “astonishing cock-up” by McLaren.

Hamilton was told on the radio to pull over after his pole lap due to a “technical problem”.

Sporting director Sam Michael argued ‘force majeure’, but the stewards ruled that it had been entirely McLaren’s fault that not enough fuel was put into Hamilton’s car to ensure a scrutineering fuel sample.

Writing in the Telegraph, Tom Cary said the severity of the disqualification “raised eyebrows”, but agreed that “McLaren’s mistake was horrendous”.

He said it has been “a season of errors” by the famous British team, who are yet to get Hamilton’s signature on a new contract beyond 2012.

“Hamilton must be seething,” read an article in the Daily Mail newspaper, while The Times laid out McLaren’s “catalogue of errors”.

27-year-old Hamilton’s “raw talent is being thwarted by mishap and cock-up,” said journalist Kevin Eason.

“McLaren are lovely people but how the hell do they get themselves in this position?” wrote the Mirror’s Byron Young on Twitter.

Even the non-English language media agreed.

“It was another great mistake by McLaren that could eventually cost Hamilton the championship,” wrote Livio Oricchio in O Estado de S.Paulo.

Italy’s La Stampa called McLaren’s fuel gaffe a case of “harakiri”.

Germany’s Auto Motor und Sport added: “It was error number 13 for McLaren since last year”.

While highly critical of McLaren’s own-goal, however, the feeling in the paddock is that the stewards’ penalty – although accepted by McLaren – was overly harsh.

“Back of the grid? Way, way too harsh”, said the Mirror’s Young on Twitter.

“Draconian penalty in my view,” agreed PA Sport’s Ian Parkes. “Dropping Q3 time would have sufficed.”

Sky commentator Martin Brundle added: “(I) feel they should have deleted that (Q3) laptime only which would have put him sixth”.

And excluding Hamilton from Q3 altogether would have put him 11th. Now, he will be “lucky to score a point”, Auto Motor und Sport predicted.

In the Independent, however, David Tremayne noted: “Welcome to the draconian world of F1.”

David Croft, the lead Sky commentator, said the FIA stewards had acted correctly.

“A good rule should be one that covers all eventualities with a penalty that acts as a deterrent which in this case is what happened.

“Too little fuel can’t be tolerated,” he added. “It seems harsh but had Lewis taken pole by one thousandth of a second, would it be harsh then?”

The Spanish fans – not Hamilton’s biggest supporters dating back to his spats with Fernando Alonso in 2007 – were happy.

Asked on the El Mundo website whether the penalty was fair, 76 per cent answered yes.

With the F1 world now returned from Bahrain, the sport is assessing the fallout of one of the most controversial grands prix in history.

The drivers were conspicuously quiet over the saga in the island Kingdom, but – with no contract tying him down – former Force India driver Adrian Sutil admitted he was glad he was not there.

“In a situation like that, it is probably better not to go,” the German said on Sky Deutschland.

“On the one hand, the decision was made (to go to Bahrain), on the other hand, it’s very difficult when there are so many problems in a country.”

Red Bull reserve driver Sebastien Buemi, who has family living in Bahrain, does not agree at all.

“I arrived on Monday and I had no problem — maybe there were a few more police than two years ago, but nothing happened to me,” the Swiss insisted on Austrian Servus TV.

Force India and Sauber, however, witnessed Molotov cocktail attacks on their treks to and from the circuit.

And Caterham team spokesman Tom Webb told the Sun that there was “one minor incident when one of our (hire) vans slowed down in traffic and its occupants saw a local youth on the side of the main road brandishing a bottle with a rag stuffed in its neck”.

World champion and race winner Sebastian Vettel also admitted the feeling was tense in the paddock throughout the weekend.

“It was not easy for anyone,” the Red Bull driver admitted, according to SID news agency, “but I’m glad that nothing happened to any of us (in F1).”

And the Telegraph quotes Vettel adding: “Hopefully, we come back in the future when everything’s a little bit safer.”

Reuters reports that Vodafone, the main sponsor of the half Bahrain-owned McLaren team, sent no staff to the country and expressed concerns to the British outfit.

But Jim Wright, an F1 sponsorship expert, told the Guardian that he thinks while the sport’s image took a beating last weekend, sponsors will be happy.

“Most teams handled a difficult decision very well,” he said. “On that basis I think a lot of people would be pleased with that and happy to get involved with them.”

The television audience was also unaffected – even boosted – with the BBC reporting more viewers for Bahrain than Australia and Malaysia, and Germany revealing similarly strong figures.

Still, there remains criticism.

“Now is an opportunity to reflect,” former F1 driver Alex Zanardi told Tuttosport, “and make sure that major sporting events are assigned only to governments that deserve the honour of hosting them.

“Ecclestone is brilliant and has made formula one what it is, but he can’t administer races at any cost and above all else,” insisted the Italian.

Due to security fears, Force India sat out a practice session on Friday so that staff could return to their hotels in daylight.

F1 chief executive Bernie Ecclestone was reportedly enraged, and according to rumours got his revenge by instructing Formula One Management’s television cameras to ignore the Silverstone based team’s cars in qualifying.

“There was a bit of fuss about what we did,” deputy team principal Bob Fernley is quoted by Spain’s AS newspaper, “and it was not easy, but I think it turned out to be the right response.

“We had a lot of pressure, our attitude was not well received,” he confirmed, “but I think that we had a duty of care to our employees, and to do the right thing by the team.”

Force India deputy boss Bob Fernley has dismissed reports the Silverstone based team could pull out of the controversial Bahrain grand prix.

Two members of the team were allowed to return to Europe this week following a Molotov cocktail attack en route from the Sakhir circuit to the hotel.

There were high-level meetings involving Force India on Thursday, sparking speculation the entire team could follow its frightened members back to the UK.

But Fernley, admitting that security has been ramped up after the incident, is quoted by Express newspaper: “We are definitely taking part, that is decided.”

Bahrain’s information affairs authority also released a statement featuring quotes by Bernie Ecclestone.

“I have no knowledge of any teams planning to withdraw from the race and we are all looking forward to racing in Bahrain,” the F1 chief executive said.

According to Telegraph correspondent Tom Cary, however, another incident like the one involving Force India this week could force F1 to change its decision to go ahead with the race.

“If that happened again and someone was injured then that’s the nightmare scenario for organisers as it might push the teams over the edge,” he said.

Many drivers, like Kimi Raikkonen, have said the situation is normal this weekend in Bahrain, but Cary does not agree.

“Normally there would be PR events in town, you know, ‘meet the fans’ and that sort of thing but certainly as far as I’m aware there aren’t any of those happening,” he said.

World champion Sebastian Vettel said he will be happy when track action begins on Friday.

“I think it’s not a big problem,” the German said when asked about the security situation this weekend, “and I’m happy once we start testing tomorrow because then we worry about the stuff that really matters — tyre temperatures, cars.”

Earlier, Vitaly Petrov’s manager indicated the Russian would only travel to Bahrain if F1 could guarantee his safety.

“If it was dangerous they wouldn’t let us in,” the Caterham driver told The National in Bahrain.

“If they make sure nothing gets thrown onto that track to hurt us, then we’ll be fine. We are here; if it happens, it happens,” added Petrov.

In fact, almost everyone in Bahrain has been reluctant to comment in detail, but there is an obvious feeling of unease.

Peter Sauber told Blick newspaper: “I feel like a guest, and so it is not polite to criticise your host.”

But 1996 world champion Damon Hill allowed himself some criticism of F1, including the sport’s most powerful figures, Bernie Ecclestone and Jean Todt.

He pointed out that FIA president Todt has said “next to nothing” about the Bahrain saga.

“This I find baffling,” Hill wrote in the Guardian. “Surely it is possible to condemn acts of inhumanity without taking a side?”

As for F1 chief executive Ecclestone, who has consistently trivialised the Bahrain issue, Hill noted that “few” in the paddock “dare to publicly disagree” with the imperious 81-year-old.

“Perhaps we should (criticise him), instead of just muttering under our breath, scared of losing our passes,” said Hill.

Hermann Tilke, the German architect who designed the Sakhir circuit, sees the entire saga as a storm in a teacup.

“It is safe in Bahrain,” Tilke, whose company has an office there, told the Kolner Express newspaper. “I’ve never heard about any problems from our people.

“Of course there is some unrest, but it is protests, not civil war. As Bernie Ecclestone has said, we do sports, not politics,” he insisted.

“And if they demonstrate peacefully now, the media will report on it, so both sides benefit.”

A member of the Force India team is returning to Europe following a firebomb attack in Bahrain.

The BBC reports that an incident occurred near a Force India hire car as members of the Silverstone based team came to a halt in a traffic jam after leaving the circuit.

No one was hurt, but “one team member not involved in the incident asked to return to the UK”, the BBC said.

“A spokesman said they were not the target of the attack, which took place on the outskirts of the capital Manama,” the report added.

The news was confirmed by The Times’ Kevin Eason, who said the incident involved a Molotov cocktail, as well as Telegraph correspondent Tom Cary.

Cary said Force India confirmed team members were “momentarily caught up in (a) disruption”.

“One team member will go home, they tell me,” he added.

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.

Group Lotus will no longer sponsor the formula one team that bears its name.

But – as F1′s perpetually bizarre ‘Lotus’ saga takes another twist – the Enstone based team, formerly Renault, will continue to be known as Lotus in the coming years.

Last year, and in 2010, ‘Lotus’ was the name of the team that is now called Caterham, but a bitter dispute soured that relationship as the Proton-owned car company Group Lotus ended the naming license and made its own bid to enter F1.

Group Lotus’ new foray blossomed in 2012 with Renault’s renaming to Lotus, amid speculation team owner Genii was keen to get more involved with the iconic sports car marque.

When asked recently about his team’s relationship with Lotus, Kimi Raikkonen answered clumsily on the Top Gear motoring programme: “Well it’s, er, it (the car) is not a Renault. Lotus is just a sponsor.”

The Autosport website revealed on Good Friday that the sponsorship deal has been “terminated”.

However, “We are happy to carry the Lotus name as we believe it is a good name for F1,” explained team owner Genii’s Gerard Lopez.

“So Lotus are still Lotus despite no longer being sponsored by Lotus?” the Telegraph’s Tom Cary wittily surmised on Twitter.

And in yet another twist, Lopez refused to rule out a scenario in which Genii actually takes over Group Lotus.

“We don’t know yet, because we really do not know what the new owner wants to do with it,” he said.

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.”

Mercedes could quit formula one or challenge Bernie Ecclestone in court, after it emerged top rivals Ferrari, McLaren and Red Bull have agreed new commercial deals.

With the FOTA alliance crumbling, F1 chief executive Ecclestone announced on Saturday that he has agreed terms with the “majority” of teams.

In addition to the three top teams, it is believed Lotus, Toro Rosso, Sauber and Force India have also signed up.

That leaves Mercedes and Williams apparently yet to agree, while it is believed the three bottom teams Caterham, Marussia and HRT have not even seen a copy of the new Concorde Agreement.

Mercedes would not comment publicly.

“We would like to ask for your understanding that our team currently has nothing to say on this matter,” said a spokesman.

Behind the scenes, however, high-level sources close to the Brackley based team admitted they are unhappy that the terms of the deal heavily favour the top three teams.

One bonus, for example, is for teams who have not changed their name.

Media outlets including PA Sport and London’s Telegraph were told by the sources that the Stuttgart marque could challenge Ecclestone’s methods against European Union competition law.

Or the carmaker and engine supplier could simply quit F1.

“It is understood the carmaker and parent company Daimler are prepared to play hardball”, wrote Tom Cary in the Telegraph, referring specifically to European laws involving the abuse of a dominant position.

Other authoritative publications, also apparently briefed behind the scenes by Mercedes, referred specifically to the same laws.

On the record, Mercedes’ competition vice-president Norbert Haug said in Malaysia: “I’m not sure who has signed. We’ve nothing currently to say.”

 Force India has been ordered by a British court to pay over a million dollars.
With team boss Vijay Mallya already in financial strife over his collapsing airline Kingfisher, his Silverstone based team must now pay Italian wind tunnel Aerolab.

The high court judge on Wednesday said the amount, which according to the Daily Telegraph will skyrocket to over $6 million once legal costs are added, is for unpaid fees following a copyright dispute with Aerolab and Caterham.

The newspaper said the bill could be the final straw for struggling Mallya, who may now cede control of Force India to 42.5 per cent shareholder Subrata Roy, another Indian billionaire.

But Force India hit back in a media statement on Wednesday by revealing that Aerolab and its client Caterham were found “liable for copyright infringement”.

“Some parts created using Force India confidential information were used on the Team Lotus race cars in the early part of the 2010 season,” it read.

Force India said it has referred the court’s ruling to the FIA.

 After putting his tumultuous 2011 season behind him, Lewis Hamilton has kicked off this year’s world champion in downbeat mood.
The 2008 world champion had put his well-documented personal problems and on-track struggles behind him with a positive approach to his sixth season in F1.

But after his teammate Jenson Button beat him in the 2011 standings, Hamilton could not hide his disappointment on Sunday when the 2009 title winner also beat him to the first corner in Melbourne, before Button and reigning champion Sebastian Vettel filled the top two podium spots.

“I just struggled out there,” confused pole-sitter Hamilton said afterwards.

David Coulthard, the former long-time McLaren driver and now paddock analyst, expressed concern about Hamilton’s “striking” post-race body-language and “stony-faced” performance on the podium.

“Has it (Button’s win) knocked Lewis?” he wondered in his Telegraph column.

Many in F1 are astonished by how Button, described as having entered Hamilton’s “lion’s den” at McLaren two years ago, is now being described by the famous British team as its title-winning hope.

“People underestimate him,” said team boss Martin Whitmarsh. “He’s such a calm, mature and easygoing fellow that people don’t realise necessarily the hunger that’s in him to compete and to win.

“He must now believe he’s in a good chance of a proper title run this year and providing we can continue to improve the car, not make mistakes, be reliable there’s no reason why he can’t do that,” he added.

On Hamilton’s side of the garage, meanwhile, is a downcast driver and an expiring contract.

“On his day, Lewis is unbeatable, and yet I suspect McLaren are wondering whether or not they want to keep him, because he brings so much baggage with him,” another former McLaren driver-turned commentator, Martin Brundle, told April’s Motor Sport magazine.

As for Whitmarsh, McLaren’s team principal insists there is no concern yet that Hamilton has already re-entered another spiral of despair so early in 2012.

Downplaying Hamilton’s post-race mood in Australia, he said: “When he starts getting happy with being third, or beaten by his teammate, then he won’t be the Lewis we all love and admire.”

 Many team bosses reportedly left the Melbourne paddock angry late on Sunday, amid claims Ferrari and Red Bull have agreed special deals for F1′s future beyond the current Concorde Agreement.
Rumours of the top teams’ deal – part of a reportedly planned $10 billion stock market floatation of the sport – began to swirl following the publication and then retraction of a Sky News internet report.

The report was reportedly based on a leaked copy of the draft 2013 Concorde Agreement, which according to London’s Telegraph newspaper “could hand Ferrari a direct stake in the sport”.

Red Bull, the reigning champions, “also stand to make a huge sum”, the report claimed, adding that the energy drink-owned team as well as Ferrari will be asked to nominate directors for F1′s holding company board.

Team boss Christian Horner revealed Red Bull is “in discussions with FOM” about a new Concorde Agreement, adding that talks are “progressing reasonably well”.

How the other major teams – like FOTA members McLaren and Mercedes – fit into the picture is unclear at present, but the Times newspaper reports that there are “no seats” at the boardroom table allocated for them.

An unnamed senior team executive described the rumoured special deals for Ferrari and Red Bull as “outrageous” and “against every facet of European competition law”.

Ferrari declined to comment.

Horner added: “We want one (a Concorde Agreement) which reaches into the future … a floatation is really down to the shareholders.

“It is not really the teams’ business,” he added. “It is more of a question for Bernie (Ecclestone) or CVC.”

Many paddock insiders, however, believe the deals are already done in principle, leading one angry rival team boss to blast: “Formula one stopped being about racing a long time ago”.

“There will be an end game to this,” he added. “We just have to figure out what it is and what it means for the people in the teams who want to go racing and not be involved in this kind of thing.”