Formula One News — December 2000

YOUNG Finn Kimi Raikkonen has said he will not let the Federation Internationale l'Automobile's decision over his superlicence application affect his test with Sauber at Jerez.

JENSON BUTTON completed his first day in a Benetton at the Spanish circuit of Jerez on Tuesday and insisted his desire to succeed next year is even higher than in his debut season with BMW-Williams.

WEDNESDAY morning brought no respite for EM.TV on the Frankfurt Stock Exchange as the company's shares dropped another 22% in the course of the morning trading, dipping under 7 Euros ($5.90) in value for the first time as investors continuing to push for a change of management at the company.

The Frankfurt Stock Exchange has continued to punish Formula One shareholder EM.TV in the course of Tuesday after an enormous 40% drop in value on Monday.

British American Racing has successfully scooped all the attention in F1 circles this week when it comes to the question of encouraging young drivers.

THE ever-increasing importance of motor racing as a media business rather than as a sport has been highlighted in recent hours not only by Leo Kirch decision to buy into the Formula One group of companies but also by the announcement from the United States of America that CART has taken on a new chief executive in Joseph Heitzler, a former TV executive with CBS Sports.

According to sources in Germany Leo Kirch agreed to pay Thomas Haffa $550m for almost all of his 50% shareholding in Bernie Ecclestone's Formula One group of companies.

THOMAS HAFFA's EM.TV - or at the least the remains of it - is being threatened with legal action by some of its smaller investors who have lost large sums of money because of the company's collapsing share price in recent weeks.

British American Racing have announced that they are to launch a driver development programme to work alongside the current test team in 2001.

BRITISH AMERICAN RACING announced on Monday the signing of young Briton Anthony Davidson as their official test driver for 2001.

AS the Formula 1 team chiefs prepare to go to Monte Carlo later this week for a meeting of the Formula 1 Commission we hear that FIA President Max Mosley, who is against the proposal to allow more electronic systems in the sport, has circulated a letter to the teams suggesting that even more technology should be allowed - including traction-control, torque-steer systems, automatic starts and active-suspension.

HOCKENHEIM have submitted plans for an $26 million redevelopment plan which will see the circuit reduced by 30 per cent.

THE Renault car company is launching itself into the luxury car markets with the intention of going head-to-head with Mercedes, BMW and Jaguar.

FIA President Max Mosley is well known for his acute political skills, but his latest proposals for the Formula 1 Commission have left even the F1 team bosses a little breathless.

EM.TV boss Thomas haffa thought that he had saved his company by making a deal with Leo Kirch. It was announced on Monday that Kirch has bought 16.74% of EM.TV and taken over almost all of Haffa's shares in Bernie Ecclestone's Formula One group of companies.

FORMULA 1 boss Bernie Ecclestone is often involved in talks when teams are being sold and this week we hear Ecclestone was in New York talking to a large investment bank about buying the small Italian outfit which is currently floundering somewhat after the collapse of a deal between current owner Gabriele Rumi and the South American TV company PSN.

THE Benetton team sometimes has a weird way of doing business.

AS EM.TV's share price dived on Monday, the company announced plans to sell the rights to merchandise the characters from The Sesame Street educational TV program to a New York company called Sesame Workshop, which produces Sesame Street and The Muppet Show.

ALTHOUGH the prime mover behind the Orange sponsorship of the Arrows F1 team Hans Snook is to stand down as chief executive of the company, the mobile phone firm is currently saying that the Formula 1 deal will continue.

THE most significant part of the announcement on Saturday that Silverstone has secured the British GP for the next 15 years was the fact that Silverstone is to be completely rebuilt.

IT will be some time before the financial details of the deal between Brands Hatch and Silverstone come to light but there is little doubt that Octagon, a subsidiary of the Interpublic Group and the owner of Brands Hatch, has taken agreed to a settlement which will see the British Grand Prix transferred to the Northamptonshire circuit for the next 15 years.

THE start of December traditionally marks a time of change in Formula 1 circles and this year in no exception.

THERE will be a lot of FIA activity in Monaco this week with the Formula 1 Commission meeting to discuss the rules of Grand Prix racing for the future and to decide other important issues such as whether or not Kimi Raikkonen is going to be granted a Superlicence.

THE future of the British Grand Prix has been secured after a peace agreement between the Brands Hatch and Silverstone circuits.