Formula One News — July 2002

The legal action between Deutsche Bank and Tom Walkinshaw's Arrows may have more to do with Deutsche Bank's financial situation than with any real interest in F1.

Tom Walkinshaw is rumored to be close to completing a deal with Morgan Grenfell, which will allow him to sell the Arrows F1 team to Red Bull GmbH and Red Bull Inc.

Red Bull is a company which has money to spend and the motor racing world fits in nicely with the company's advertising philosophy of supporting participants in dangerous and extreme sports.

Anthony Davidson is to be have a run in a Jaguar later this summer as the team looks at possible signings for next season.

There are rumors in F1 circles that Toyota Motorsport has offered Willi Rampf twice his current salary to move to Cologne to work for the team.

The politicians of Belgium have a talent for trying to drive Grand Prix racing out of the country.

Bernie Ecclestone's outburst against Silverstone left most of the F1 circus perplexed as the work done in and around Silverstone was mightily impressive.

Mugen has been out of Formula 1 since Honda's official return to the World Championship but it is not impossible that the company could be back in the sport again next year, working in parallel with Honda.

The banks which now control SLEC, the Formula One group's holding company, have not even started talking with the automobile manufacturers about what should happen in Formula 1.

Renault, Williams and Arrows wrapped up their testing programs before the French GP and the summer testing ban on Friday at the Valencia circuit.

The news that Toyota has pulled its test driver Ryan Briscoe out of Formula 3000 is not really a surprise.

The recovering Korean economy has once again raised the possibility of an F1 involvement by Hyundai.

Carlos Reutemann surprised the Argentine people Wednesday by reporting that he would not seek the presidency of the financially troubled country.

The next generation BMW engine, scheduled to replace the currently successful P82, is ready ahead of schedule according to BMW Motorsport director Gerhard Berger.

Testing continued at the Valencia circuit in Spain Thursday, where Heinz-Harald Frentzen set the fastest time of the day.

Jaguar test driver James Courtney suffered a concussion Thursday morning during a spectacular crash while testing at Monza.

Nigel Mansell is the latest to escape a dangerous airplane emergency.

Life on the race tracks of the world may be troublesome for the Honda Motor Company but in the showrooms the company is doing remarkably well.

Australia is in a strong position to have a whole string of F1 drivers in the years ahead.

The recent investment made by Mediobanca in Ferrari could change the company in a fundamental way.

The need for cars in CART has led former World Champion Mario Andretti to consider starting his own team in the struggling American open-wheeler championship.

The paddock at the British Grand Prix is one of the busiest of the year with the Formula 1 circus meeting the British motor racing industry.

The head of Volkswagen Bernd Pischetsrieder has again denied any intention on the part of Audi to enter Formula 1 in the near future.

Testing in preparation for the French GP continued Wednesday, when the Jordan-Honda and Arrows-Cosworth teams joined Williams, Renault and Sauber in Valencia, Spain.