NEWS ARCHIVE

30 NOVEMBER 1998

FOH UP FOR SALE?

BERNIE ECCLESTONE's frustration with the financial world increased last week when the London Stock Exchange took the unusual step of refusing to list the Eurobond he is trying to launch with underwriters Morgan Stanley Dean Witter. The organization said it would like more information about the deal.

PICCININI TO BE THE NEW BERNIE?

NEWSPAPER reports in Europe have suggested in recent days that Bernie Ecclestone - who is now 68 years old - is planning to leave Italian banker Marco Piccinini in charge of Formula One Holdings when - and if - the business is floated. The 46-year-old has been a pal of Ecclestone since the early 1980s when he, Bernie and Max Mosley negotiated the Concorde Agreement. At the time Piccinini was Sporting Director of Ferrari, a job he held between 1978 and 1988.

SO WHAT HAPPENS TO TOM?

IF Tom Walkinshaw does sell the Arrows F1 franchise to Zakspeed it will enable him to clear away the team's debts and as the facilities and staff are already in place Tom could quite easily turn around and, with new backing, buy another F1 franchise.

THE FUTURE FOR DAVID RICHARDS

THE current wheeling and dealing in Formula 1 circles does not seem to be taking into account David Richards - the recently deposed chief executive of Benetton Formula. In recent weeks he has been closely linked to the Ford MotorÊCompany and there was talk that he might be involved in a takeover of Stewart Grand Prix.

TOYOTA - YES OR NO?

THERE are conflicting reports around Europe this week about Toyota's plans to enter Grand Prix racing.

WHO IS BUYING WHOM?

THE developing battle over the Silverstone racing circuit has taken a further twist with suggestions that the BritishÊRacingÊDrivers'ÊClub - which owns the Northamptonshire track - has made a bid for one of the companies which was rumored to be trying to buy Silverstone - Brands Hatch Leisure.

ZAKSPEED AND ARROWS

IN the last few days there have been serious moves by a German consortium of businessmen, led by Peter Zakowski - the boss of Zakspeed - to buy the Arrows Formula 1 team.

23 NOVEMBER 1998

A POT OF GOLD FOR EDDIE JORDAN

EDDIE JORDAN has sold a percentage of his Formula 1 team to the venture capitalist firm Warburg, Pincus & Co. for what is rumored in the business world to be $60m.

ARBITRATION FOR BAR

BRITISH AMERICAN RACING and the FIA are to go to arbitration in their dispute over the new regulation which bans FormulaÊ1 teams from using different liveries on their cars.

BERNIE AND THE BOND

THERE has been a lot of noise in Europe in recent days about Bernie Ecclestone's plans to borrow $2 billion from financial institutions in exchange for commercial bonds which will be secured by the income from the sale of F1's television rights.

FORD DENIES STEWART-JAGUAR RUMORS

THE Ford Motor Company has denied that it is in the process of trying to buy Stewart Grand Prix with the intention of turning the team into a Jaguar F1 team in the year 2001.

HONDA TO BUILD A V12?

WE hear whispers from Japan that the engineers at Honda Research & Development in Wako, near Tokyo, are considering building a V12 Formula 1 engine for the 2000 season, rather than a V10 as is being assumed by the Grand Prix circus.

PROST BUYS APOMATOX

PROST GRAND PRIX has, as we predicted (INSIDE F1, ISSUE 98.44), bought the Apomatox Formula 3000 team.

TOBACCO IN AMERICA

THE United States National Association of Attorneys General last week released details of the proposed legal settlement between the tobacco industry and the majority of the States in the Union.

WHERE DID ALL THE MONEY GO?

ACCORDING to an investigation carried out by the British TV program Panorama and The Financial Times newspaper, the FIA could be a great deal richer than it is today if its President Jean-Marie Balestre had been a better businessman.

16 NOVEMBER 1998

BOARDROOM BATTLES FOR SILVERSTONE

THE SUNDAY TIMES in London reported last weekend that an $68m bid has been made for Silverstone racing circuit, the home of the British GP, by John Lewis, who has just resigned as chairman of Silverstone Estates, which manages the facility.

CURIOUS RUMORS

WE have heard some interesting rumors in recent days which suggest that one of the private consortiums which tried to buy Rolls Royce Motor Cars early this year is looking to buy itself a Formula 1 team.

FORMULA 1 GOES ON VACATION

WITH testing banned for the next two weeks, many of the people involved in Grand Prix racing have taken the opportunity to go on vacation for a well-earned rest after more than nine months on the road.

GOODBYE TYRRELL

LAST Friday marked the end of one of Formula 1's most famous racing teams with the closure on the Tyrrell Racing Organization factory in Ockham, Surrey.

RENAULT AND FIAT

WHILE the Formula 1 world has been unusually quiet in recent days there has been one piece of industry news which has raised interesting long-term questions. FIAT - the parent company of Ferrari - has announced that its foundry subsidiary Teksid SpA is to take over Renault's four foundries in exchange for a 33% share in the company.

THE TIRE WAR IS OFF - BUT A RACE IS ON

THE tire war between Goodyear and Bridgestone may have come to an end but already teams are trying to find a replacement for Goodyear for the 2000 season.

TOBACCO COMPANIES SETTLE IN USA

THE attraction of the United States of America to Formula 1 has increased with the news that the major tobacco companies have reached a deal with eight States which will allow restricted tobacco advertising in the future.

9 NOVEMBER 1998

A SITE FOR THE INDIAN GRAND PRIX

AS we suggested in July there are plans for an Indian Grand Prix to be held near Calcutta with a 500-acre site at Bantola having been chosen by the West Bengal state government which has established a 22-member steering committee,

ANYONE FOR TENNIS?

BERNIE ECCLESTONE says that he is looking at investing in both tennis and soccer with the money he hopes to raise from his planned Formula 1 bond issue.

BAR SKATING ON THIN ICE

BRITISH AMERICAN RACING continues to threaten legal action against the FIA over the new regulation which means that the team cannot run two different color schemes on its cars next season.

NO CHANGE AT MINARDI?

GIANCARLO MINARDI says that his F1 team will probably stick with the same drivers next year and has confirmed that even if there is not a Grand Prix in Argentina Esteban Tuero will remain with the team.

PANIS BACK TO HOSPITAL

OLIVIER PANIS flew from Japan to Canada where he went back to the Sacre Coeur Hospital in Montreal to undergo an operation to remove various metal pins and plates from his legs which were inserted after his crash during the CanadianÊGP in June 1997.

PIECH DENIES F1 PLANS

VOLKSWAGEN boss Ferdinand Piech has denied speculation that Europe's biggest carmaker is planning to enter GrandÊPrixÊracing with its Audi brand.

RESSLER AT COSWORTH

THE Ford Motor Company's gradual takeover of hands-on management of its Formula 1 program continued last week with the low-key announcement that it has appointed Neil Ressler as Vice President and Chief Technical Officer of Research and Vehicle Technology and chairman of Cosworth Racing.

REYNARD GOES PUBLIC

AS we predicted recently Reynard Motorsport is to float on the New York Stock Exchange.

SUZUKA TIRE TESTING

TEN of the 11 Formula 1 teams stayed on at Suzuka last week to take part in the first test of Bridgestone's 1999 tires which feature four grooves in the front tires rather than three as is the case this year.

THE STORY OF FAROUK AND HASSAN

IF losing the World Championship was not bad enough, Michael Schumacher has come under attack in recent days from other directions with the most bizarre story coming from the Algerian government's daily newspaper El-Moudjahid.

2 NOVEMBER 1998

...AND THEN BERNIE FLIES TO NEW YORK

AFTER his meeting with President Menem, Bernie Ecclestone flew to the United States for a short holiday with his wife and children in New York. We believe that Bernie will also have talks with Indianapolis Motor Speedway boss Tony George to finalize the deal for Grand Prix racing to go to Indy in the summer of 2000.

BMW AND VERSTAPPEN

THE Williams team recently delivered two FW20 chassis to Munich to be used by BMW for engine testing next season. The BMW engines are somewhat delayed but the latest version of the V10 is producing promising horsepower figures on the dynos. The first of these engines will be ready to run in the car in February when we expect that Jos Verstappen will be named the team's test driver, having had experience with both Renault and Ford F1 engines in recent years.

BROWN TO STAY AT MCLAREN

WHILE many teams are undergoing big changes at the moment McLaren is currently fairly stable although there is likely to be some restructuring in its race engineering team next year as it will once again include former Williams engineer David Brown.

CHANGES AT SAUBER

THERE have been some fairly major changes at Sauber in recent weeks with the racing team being reorganized under the control of German Jost Capito, who was previously in charge in the organization of the Sauber Petronas Engineering road car engine project.

GOOD NEWS AT BAR

BRITISH AMERICAN RACING has finally confirmed that Ricardo Zonta is to be Jacques Villeneuve's partner next season and the announcement - which had been delayed because of the branding problems encountered by the team in recent weeks - suggests that a solution has been found between the various BAT companies involved in BAR.

HOW TO STOP TEAMS TESTING

WE understand that having failed to convince teams to restrict testing Bernie Ecclestone has discovered that Bridgestone is keen to keep down the number of tires needed next year and would like to stop the level of testing which currently exists.

MENEM MEETS ECCLESTONE

BERNIE ECCLESTONE met Argentine President Carlos Menem when he visited London last week.

RAISING CASH FOR ARROWS

TOM WALKINSHAW's Arrows team was linked to a possible deal with Toyota during the Suzuka weekend but we do not think anything will come of it, despite the fact that Tom spent five hours meeting with Toyota bosses.

STODDART PLANS F1 TAKE-OFF

AUSTRALIAN airline owner Paul Stoddart says he wants to run his own Formula 1 team and last week took a big step towards that when he bought all the movable assets of the Tyrrell F1 team from British American Racing.

THE NON-EXISTENT HONDA PROJECT

ALTHOUGH Honda has yet to officially confirm that it is entering Formula 1 in the year 2000 there is no doubt that a team is being put together and that it will begin running cars in both Japan and Europe within days of officially confirming its entry into F1.