Formula One News — October 2002

This weekend the young racers of Europe will gather at Brands Hatch for the annual Formula Ford Festival. A victory in the Festival has been the launching pad for a number of drivers who ended up in Formula 1

A Monaco-based British banker was in court yesterday charged with siphoning money from the bank accounts of his clients, including Formula 1 driver Michael Schumacher. Stephen Troth has confessed to spending up to $20m which belonged to others.

The big question in F1 circles for those who have not gone away on holiday after the last race of the season, is what will now happen at the meeting of the Formula 1 Commission on October 28.

As we reported Monday, Max Mosley flew to Shanghai to break ground on the new Formula One circuit to be built in the city. It now appears that Mosley will return with Bernie Ecclestone on October 20th to sign an agreement to hold a Grand Prix at the planned facility from 2004 to 2010.

The BBC will try to win back Formula One terrestrial television coverage in Britain when rival ITV's current contract expires in 2005. The Daily Mail is reporting that BBC executives have given the go-ahead for a $270 million bid to broadcast the championship for three years.

Arrows has once again avoided a winding up petition by paying off a creditor hours before the petition was due to be heard in court. An Arrows spokesperson confirmed Monday that the British Inland Revenue was paid (for what was believed to be unpaid taxes), thus avoiding a winding-up petition scheduled to be heard Tuesday.

Japanese Grand Prix Sunday Race Report

Fiat last week asked the Italian government to allow it to ignore employment law and close several factories. Prime Minister Silvio Berlusconi has now said that this will not be allowed to happen.

Takuma Sato's fifth place at the Japanese Grand Prix has opened the way for the Japanese driver to find sponsorship that will keep his drive open at Jordan next year.

Max Mosley flew to Shanghai on Monday to break ground for the planned Formula 1 circus in the city.

Asiatech, the mysterious company which took over the Peugeot Sport engine operation at the end of 2000, has announced that it is giving up its plans to enter Formula 1 with its own team.

<b>Japanese Grand Prix Sunday Race Notes</b>

<b>Japanese Grand Prix Sunday Photos</b>

Allan McNish has been forbidden to race in the Japanese Grand Prix following his massive accident in qualifying. The decision was taken by FIA doctor Sid Watkins shortly before the event.

The Malaysian national oil company Petronas, sponsor of the Sauber team, is to develop its own F1 fuels in the future.

Although he took part in the warm-up on Sunday morning at Suzuka, it is thought likely that Allan McNish will be told that he cannot race in this afternoon's Grand Prix on the advice of the Formula 1 doctor Sid Watkins

<b>Japanese Grand Prix Sunday Warmup Report</b>

The proposal made by Max Mosley that Formula 1 cars should be made to carry extra weight, depending on the number of World Championship points that they score, is one which has not really been taken seriously by the Formula 1 community.

<b>Japanese Grand Prix Saturday Qualifying Report</b>

Allan McNish, in his last race with the Toyota F1 team, was fortunate to emerge unscathed from a high-speed accident in qualifying at Suzuka. The Toyota went out of control at the fast rigth-hander going out into the country and at around 160mph bounced across the short run-off area and hit the barriers hard, halfway up.

Allan McNish walked unaided from a massive accident during qualifying at Suzuka. The Totoya driver was exiting the fast left-hander after the sweepers behind the F1 paddock when he lost control of the car.

Paul Stoddart the boss of the Minardi team has confirmed that four teams have taken steps to challenge Minardi's right to the benefit monies from Prost Grand Prix.

The meeting of the Formula 1 Commission at the end of the month will be a key one for the sport with radical proposals being put forward by Max Mosley to revolutionise the sport. In order for these to get through the Commission a majority of 18 votes is needed from the 26 available.

<b>Japanese Grand Prix Saturday Morning Free Practice Report</b>