Money could be at the heart of the delay in Lewis Hamilton’s re-signing with the McLaren team.

Until now, the British team has indicated it wants the 2008 world champion to stay on board, while 27-year-old Hamilton insists he has no plans to leave and will turn his attention to the 2013 contract soon.

But according to Blick newspaper, McLaren is pushing to cut Hamilton’s existing contract retainer “in half” to “about EUR 10 million”.

The Swiss report said the driver is unimpressed with the negotiations so far, but at least Hamilton’s mood has improved tenfold compared with his calamitous 2011.

It is a full year since Hamilton raged about his “frickin ridiculous” track rivals in the 2011 Monaco grand prix, when he also half-seriously suggested that the stewards were targeting him “because I’m black”.

He is back on top form this season, but still yet to win a race, arguably mainly due to McLaren’s numerous team mistakes.

Reports have suggested boss Martin Whitmarsh, who insists Hamilton “deserves” to win this weekend in Monaco, is worried the mistakes might drive the highly rated racer away.

On Wednesday, however, Hamilton denied he is frustrated.

“I’m not, no. This is the way racing goes sometimes,” he insisted.

“I could easily get frustrated because I could have a healthy lead in the championship — but that’s not the case.

“I don’t want to speak too early but something has definitely changed. Whatever I’m doing is working,” he told British reporters.

“In life, things just seem a lot better and that’s enabling me to get on with my job without having any baggage.”

Sergio Perez admitted to mixed feelings on Wednesday as he returned to Monaco.

The last time he was in the Principality to race – for his debut grand prix in the fabled Principality – he was hauled away in an ambulance, having been knocked unconscious in a huge qualifying crash.

“To me it’s unbelievable to be back here after such an accident,” the 22-year-old said on Wednesday, according to Germany’s Auto Motor und Sport.

Mexican Perez said Monaco is still his favourite track.

“It is definitely not a good feeling that the walls are so close, but we know the risks. It’s a special place.

“I can remember everything right up to the crash. The next thing I know was that I was on the way to hospital — I was unconscious for several minutes.

“After such an accident it is not easy to come back — I cannot say for sure how I will feel when I come out of the tunnel for the first time. But I think it will be completely out of my head.”

Perez said he really needed “four or five” races to recover from the heavy concussion, but that there was pressure from sponsors to come back as soon as possible.

“I wanted to get back into the car in Montreal, but it was impossible,” he recalled.

“In Valencia it was very difficult for me.”

Now, he is hoping for a very different Monaco weekend, after looking strong last year until his crash.

“Our goal must be the podium. I hope to find a good setup although we have recently had a little problem with the traction.

“We are so close to the top that every tenth can make a difference.

“After our second place in Malaysia, maybe the next step will be victory — I don’t know if we will succeed. But the opportunities are there,” said Perez.

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.

Vitaly Petrov thinks it is possible Felipe Massa will lose his Ferrari seat long before the 2012 season is over.

But Caterham’s Russian driver, who moved from Renault (now Lotus) at the end of last season, does not believe reports that Ferrari could sack the struggling Brazilian imminently, such as after next weekend’s Monaco grand prix.

“I don’t think they’ll fire Massa just now. At least not until August,” Petrov is quoted by the state owned Moscow news agency Ria Novosti.

There are six races until August’s month-long calendar ‘summer’ break.

So while Petrov thinks Massa’s career is genuinely in danger, he does not agree that Ferrari is ramping up the pressure on the 30-year-old.

“I wouldn’t say that Ferrari are criticising him that strongly,” he said. “They’re not saying he has one more chance or anything like that.”

Red Bull is lamenting the limited role that can be played in 2012 by F1′s aerodynamic genius Adrian Newey.

For the past few years, the energy drink owned team has enjoyed its dominance largely because of the airflow magic wrought by Briton Newey.

But in 2012, with reigning back to back world champion Sebastian Vettel just one of the five different winners so far, Pirelli rubber is king.

“I doubt Williams really know why they were so strong,” team boss Christian Horner, referring to Pastor Maldonado’s shock Barcelona pole and win last weekend, is quoted by Germany’s Auto Motor und Sport.

Horner insisted that, rather than the winner being the team with the best overall package at each race, success this season is about “understanding the characteristics of the tyre and the window in which they work”.

“It’s not that the midfield teams have made a quantum leap aerodynamically from last year to this year,” Horner insisted. “But from a performance point of view, this is what they have done.”

The logical conclusion is that aerodynamic cleverness has taken a back seat.

So will Red Bull knock a million or two off Newey’s huge annual retainer?

Horner laughed. “Adrian is not just an aerodynamicist, and aerodynamics are still important anyway. But now it’s about harmonising everything, and these tyres are simply remarkably complex.

“Two races ago Nico Rosberg dominated, but in Spain he was almost lapped. It is very difficult to predict what’s going to happen next — a nightmare for the bookmakers,” he smiled. “A lottery.”

The situation has split F1 into two camps: those who love it, and those who do not.

“It has become like a GP2 championship,” Maldonado, the junior category’s 2010 champion, is quoted by The National newspaper.

“The drivers can make the difference and the teams can still work on the strategy and the car.”

The bizarre situation has left everyone scratching their heads, like Jenson Button.

He can scarcely believe that what looked a championship car – his 2012 McLaren – was beaten in Spain by Shanghai winner Nico Rosberg, who was almost lapped.

“The Red Bulls did a better job at the weekend than us in terms of points, but still they weren’t quick when you compare them to Williams, Sauber, Lotus and Ferrari,” he told PA Sport.

“Five different teams winning five different races, we really don’t know what’s going on, and I think that’s the same up and down the pitlane.”

F1′s next winner could be at the wheel of a black and gold car.

“I think Kimi (Raikkonen) will be the sixth different winner in the sixth race,” said Finnish commentator and former driver Mika Salo, to the MTV3 broadcaster.

Although the results in 2012 have proved impossible to predict so far, many paddock pundits expected Lotus’ E20 to be the car to beat last weekend in Barcelona.

“The big surprise was when Kimi didn’t win,” admitted former Ferrari driver Salo, referring to Pastor Maldonado’s victory for Williams.

Also confident about Lotus’ potential is Raikkonen’s teammate, Romain Grosjean, who finished behind the 2007 world champion last weekend.

“It’s good to be a little disappointed with third and fourth,” he told the French language RMC Sport. “It shows that as a team we are convinced we can win.”

According to the reigning world champion team Red Bull’s drivers, however, there is a downside to this year’s impossible-to-predict F1 landscape.

“Maybe we will see an HRT or a Marussia on pole in Monaco,” world champion Sebastian Vettel said, unenthusiastically and half-seriously.

Mark Webber insists that what has been described as the Pirelli ‘lottery’ might not be a good thing for the sport.

“I don’t know if they (the fans) will get sick of seeing so many different winners,” the Australian told Fox Sports.

“It’s nice to have different winners but also we want rivals.”

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.”

Preparations for the inaugural Russian grand prix in 2014 appear to have hit a roadblock.

We reported last weekend that rumours were circulating in the Barcelona paddock that the Sochi race now appears “doomed”.

The state owned Moscow news agency Ria Novosti now reports that political issues have created “serious delays” in the race’s preparations, according to an adviser with the Russian Automobile Federation.

The official, Igor Yermilin, insisted that the project is not doomed, but he said very few efforts have taken place following the bureaucratic reshuffling of the local Krasnodar region.

He said some officials of the Omega company, responsible for the F1 circuit project, have lost their jobs.

“In the Krasnodar region there has been have been quite serious changes in the leadership,” Yermilin said, “including people from Omega who signed the contract on holding the Russian grand prix”.

The coastal city Sochi is also scheduled to host the 2014 Winter Olympics.

“The main thing at the moment is the Olympics — the grand prix is on the back burner,” said Yermilin.

Martin Whitmarsh is sure McLaren’s recent errors will not affect contract negotiations with Lewis Hamilton.

The British team’s latest mistake not only cost Lewis Hamilton pole in Spain, it put the 2008 world champion to the very back of the grid.

Asked if he worries that the now seemingly constant flow of team gaffes will damage McLaren’s efforts to re-sign Hamilton, Whitmarsh insisted: “No, I don’t.

“He has got to build the support of the team, he has got to feel comfortable doing it, he has got to want to drive and he is in good shape,” British newspapers quote the McLaren team principal as saying.

“I look forward to working with him for a long time to come.”

But Whitmarsh admitted that, given Hamilton’s tumultuous 2011 season, he was worried the British driver might have despaired last Saturday when the team’s refuelling mistake cost the 27-year-old pole.

“I was concerned,” he said, “because it is a pretty tough thing to happen to a driver.

“But I have to say he showed some greatness I had not seen before. By the end of our chat he was consoling me.

“The relationship between Lewis and the team is stronger and better and hopefully we will work together for a long time,” added Whitmarsh.

Five races in, F1′s cleverest brains are still yet to decode the mystery of the bizarre and fascinating 2012 season.

As was the case when he utterly dominated last year, Sebastian Vettel is still leading the drivers’ points chase.

But, before last weekend, if he had been told that Williams’ Pastor Maldonado would be the winner of the Spanish grand prix, the German admitted: “Well, I would have put a lot of money on them!

“I think the odds weren’t bad,” he smiled.

Indeed, the major British bookmaker William Hill was taking bets at 500-1 prior to the Barcelona weekend.

A spokesman confirmed that only two bets at 10 pounds or above were placed on Maldonado prior to qualifying.

“I’m sure Williams don’t understand why they just won the race here,” McLaren’s Jenson Button is quoted by the Guardian newspaper.

But the previously-derided ‘pay driver’ Maldonado is not the only potential new winner in 2012, after Jenson Button, Fernando Alonso, Nico Rosberg and Vettel won the opening four grands prix.

A detailed look at F1′s specialist reporting in the past few weeks shows that Lewis Hamilton, Mark Webber, Kimi Raikkonen, Romain Grosjean, Michael Schumacher, Sergio Perez and Kamui Kobayashi are all also widely regarded as genuine victory candidates in 2012.

And given that their teammates have won grands prix this season, even the struggling Felipe Massa and Bruno Senna should be added to that list.

“Dammit, let’s go for (HRT’s) Karthikeyan!” wrote Chris Hockley in the Sun newspaper.

“It’s really quite crazy right now,” Vettel, who despite his young age would count himself among F1′s currently perplexed purists, told Germany’s Auto Motor und Sport.

“What’s happening is difficult for us to explain,” he added.

The situation has split the F1 audience, with the purists shaking their heads, and others marvelling at the unprecedented spectacle.

“The spectacle has taken over the sport,” said the Paris daily Le Figaro.

“Even the teams can’t be sure who will be the hare and who will be the tortoise at any given track,” wrote Hockley.

Alonso, who is the joint championship leader, is in the purists’ camp.

“Of course it is attractive for the spectators that we are going to Monaco not knowing if we will fight for victory or be left out of the points,” he is quoted by El Pais.

“But in a way, after eleven years in formula one and now I’m at Ferrari, I would like to have more stability,” the Spaniard admitted.

Sir Jackie Stewart said: “What’s going on is unbelievable, which I think is the outcome of the new rules, new tyres — I think it’s many factors,” he told the Spanish sports daily AS.

“What’s happening,” said Maldonado’s race engineer Xevi Pujolar, “is that these tyres are allowing teams who do not have the biggest budgets to be eligible for really good results.

“The reason is that the most important thing now is to have a good setup and also some luck with the temperature.”

Pirelli, F1′s tyre maker, has received both criticism and praise for its huge role.

“Pirelli have been both bold and brave,” Sun journalist Hockley said. “It can’t be easy for a manufacturer to make tyres that sometimes wear out faster than you can say Mercedes.”

Marco Tronchetti Provera, the Italian marque’s company chief, is unapologetic.

“What we have provided is what the teams have asked for, and it was not easy,” Italian language reports quote him saying. “Our engineers have done an extraordinary thing.”

Felipe Massa’s formula one career is on the brink of collapse.

Ferrari boss Stefano Domenicali left Barcelona insisting he expects the struggling Brazilian to “fight back starting in Monaco”.

“We absolutely need his points to also fight for the constructors’ title,” he said.

Earlier, the Maranello based team said on Twitter that Ferrari is “disappointed with” the 30-year-old’s performance.

When asked about that comment, a Ferrari spokesman told the Sunday Times: “It was a poor choice of grammar. We are disappointed in the outcome of Felipe but not with Felipe himself.”

But the very latest development is that Ferrari is now making it abundantly clear that Massa needs to up his game immediately.

In a statement posted on its official website, Ferrari said Massa’s teammate Fernando Alonso “has always maintained a very high level”.

As for Massa, his “drop off has made itself felt”, the report stated.

“The Brazilian had picked up 49 points two years ago and 24 the following year, while so far this season he has just 2,” said Ferrari.

“Everyone, he more than anyone, is expecting a change of gear starting right away with the Monaco grand prix”, the statement concluded.

Even Massa’s strongest supporters in Brazil, like the O Globo journalist Celso Itibere, admit the situation is dire.

“He is at risk,” said Itibere, “his decline is progressive, he is failing to react and he runs the real risk of not finishing the season.

“At this time Ferrari has no one to take the job. Everyone they would like to have there – Perez, Kobayashi, Webber – are not available.”

Tuesday’s edition of the Italian sports daily Corriere dello Sport will report that Massa’s ousting is imminent.

And the latest edition of La Gazzetta dello Sport did not even once mention Massa’s name. “It is as though he does not exist,” wrote the Brazilian journalist Livio Oricchio in O Estado de S.Paulo newspaper.

“Yet it is an Italian newspaper, and he is a Ferrari driver.”

When asked if he fears for his F1 career, Massa said in Barcelona last weekend: “No. I live in the present. What will happen will happen.”

Asked if he is afraid another bad performance will seal his fate, Massa insisted: “I’m not afraid of anything, especially criticism. It doesn’t affect me.”

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.

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.

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.”