Sri Lanka has just opened its first racing circuit and it is hoped that the 1.3-mile circuit, located 40 miles to the north of the capital Colombo, will host Formula 3 races in the future.
The focus of the world was on Yokohama, Japan, on Sunday for the soccer World Cup Final between Germany and Brazil.
Fiat has sold 34% of the Ferrari company to the Italian bank Mediobanca for $768m.
There have been rumors about Audi entering Formula 1 for almost two years and with the Ingolstadt company having recently scored its third consecutive 1-2 in the Le Mans 24 Hours there is little sense in the firm staying on in sports car racing.
Bonhams is offering 10 Formula 1 Tyrrells for sale at this year's Goodwood Festival of Speed Sale.
Mark Webber showed that he should be considered as a challenger for any of the good midfield F1 seats for next year.
As we predicted yesterday, Fiat has sold 34 percent of Ferrari to investment bank Mediobanca.
Jaguar Racing has shaken down its revamped R3 chassis and this is now running at Barcelona.
Minardi is now confident that it will get to the end of the current season and so the team's focus has switched to finding a good package for the 2003 season.
Testing came to a conclusion in Barcelona Friday, where Alexander Wurz finished the day on top of the time sheets for McLaren.
The world's media was focussed on the team orders in Austria issue and no-one paid much attention to the fact that the Australian Grand Prix remains provisional on next year's World Championship calendar.
For the last 25 years Britain's "Motorsport Valley" has dominated the global industry with the specialist teams and racing car manufacturers and suppliers selling their products across the world.
Reports in Italy are suggesting that Fiat may not float Ferrari as had been announced because of the fears that the market would not respond well to an IPO at the moment.
Ferrari may have shown admirable cohesion in recent years with Jean Todt's little army all singing from the same song sheet almost all of the time.
Testing continued in Barcelona at the Circuit de Catalunya Thursday, where McLaren out-paced the field.
A number of the high technology companies involved in Grand Prix racing have been hit by the knock-on effects of the current Worldcom scandal.
An Extraordinary General Assembly of the FIA in Paris has voted in favor of a complete merger with the Alliance Internationale de Tourisme (AIT).
Tomas Scheckter says that he wants to get back into Formula 1.
Emilio Gnutti is one of Italy's wealthiest financiers and for most of the last 12 years has been quietly involved as a shareholder in Formula 1.
In the days after the Austrian Grand Prix the world seemed scandalized by the actions of the Ferrari team, and the outburst from the general public was spontaneous and vitriolic and the fans demanded that the FIA do something about what was seen as race-fixing.
Bernie Ecclestone has confirmed to reporters outside the FIA headquarters in Paris that the first in a series of payments has been made to Minardi.
A verdict was reached in the case regarding Ferraris actions at the Austrian Grand Prix.
The FIA have announced the provisional 2003 calendar.
The FIA World Council has ruled that Ferrari, Michael Schumacher and Rubens Barrichello should share a $500,000 fine for what happened on the podium at the Austrian Grand Prix.
FIA President Max Mosley told the international media that he was "irritated but impotent" about team orders.
The FIA has announced that David Richards's International Sportsworld Communicators (ISC) has agreed a deal with the federation to lease the commercial rights of the World Rally Championship for 100 years.
Worldcom announced late Tuesday that it has fired its CFO Scott Sullivan, after discovering accounting irregularities.
David Richards's Prodrive organization worked for many different manufacturers both in the sport and in the industry.
It is more than three years since a murderous fire killed 39 people in the Mont Blanc tunnel between France and Italy.
Malaysian Prime Minister Dr. Mahathir Mohamad will retire at the end of 2003.
The BMW Williams team has been keen to keep the wraps on its new livery for when Hewlett-Packard takes over as the team's sponsor from Compaq.
Six weeks ago everyone from Patagonia to Phuket was ranting and raving about how disgusting it was that Ferrari had indulged in the use of team orders at the Austrian Grand Prix.
It is probably just a coincidence but a few days after the hugely-expensive Lausitzring declared itself insolvent Manfred Stolpe has quit his job.
Bernie Ecclestone has hinted that there might be a chance of there being a Chinese Grand Prix in 2004.
The Michelin Guide Rouge was created in 1900 to provide information for motorists about facilities in areas they were visiting.
Michael Schumacher joined FIA President Max Mosley and German Transport Minister Kurt Bodewig to unveil the second car to win the coveted five-star rating in Europe's independent crash-testing program Euro NCAP.
Britain's Sky Digital service has almost halved the price it is asking for its eight-channel interactive Formula 1 program.
Preparations for the British GP began for many of the teams at the Circuit de Catalunya in Barcelona Tuesday.
European Grand Prix Sunday Race Report
The European Formula F3000 team is being run for the rest of the year by Coloni Motorsport.
John Harnden, the chief executive of the Australian Grand Prix Corporation, is moving on to better things, having been appointed the new chief executive of the Commonwealth Games.
This week is going to be vitally important for the Jaguar team as the company runs its all new aerodynamic package and revised car for the first time.
Infineon has returned to motor racing by buying the naming rights to the Sears Point Raceway in California.
There are worries that Toyota F1 driver Allan McNish might have problems with a shoulder injury in the run-up to the British GP on July 7.
Ron Tauranac is in his late seventies but he retains a keen interest in motor racing.
European Grand Prix Sunday Race Notes
European Grand Prix Sunday Morning Warmup Report
The end of June is likely to be a key moment for a number of teams in Formula 1 as it marks the moment at the which payment schedules will need to be met.
The Nurburgring paddock was not very active in terms of the 2003 driver market although there was clearly some friction at British American Racing.
European Grand Prix Sunday Photos
Malaysian Prime Minister Mahathir Mohamad resigned unexpectedly on Saturday but within an hour the 76-year-old withdrew his resignation.
There were stories appearing at the weekend at the Nurburgring which suggested that Jenson Button has been talking to Jaguar Racing about a possible drive in 2003.
Danica Patrick might try her hand in European racing again - at a slightly higher level than so far.
Edouard Michelin, the boss of the entire Michelin company, was at the Nurburgring to see his company in action.
The squabbles over the money which should have gone to Prost Grand Prix this year looked as though there were being settled in the days leading up to the European Grand Prix.
European Grand Prix Saturday Photos
European Grand Prix Saturday Morning Free Practice Report
European Grand Prix Saturday Qualifying Report
European Grand Prix Friday Afternoon Free Practice Report
European Grand Prix Friday Morning Free Practice Report
Ben Bowlby, the chief designer of the Lola CART program, is on the move.
Jordan's major sponsor Deutsche Post is in trouble with the European Commission Competition Directorate.
The most interesting rumor at the Nurburgring was that Giancarlo Fisichella could be on his way to Sauber next year.
European Grand Prix Friday Photos
The company which runs the EuroSpeedway at Lausitzring in the old East Germany has declared itself to be insolvent.
Michelin is aware that in the past the company's wet weather tires have not been in the same league as those of Bridgestone and in recent months has been working hard to improve the situation.
The team managers met on Friday afternoon at the Nurburgring and all came out of the meeting saying that it has been a marvellous meeting of minds.
On Thursday assassins tried to gun down Iosif Ordzhonikidze once again, spraying his car with bullets.
The comments by Nick Scheele of the Ford Motor Company were not correctly reported - or at least that is what the Ford Motor Company is now saying.
Michael Schumacher has been ranked 21st in Forbes Magazine's "Celebrity 100" list.
The Formula 1 team bosses are due to meet later today to once again talk about the problems relating to the future of Minardi.
CART boss Chris Pook has been busy promoting the upcoming CART race in Montreal.
The British Grand Prix Ball is expected to pull in a host of British celebrities.
The European Grand Prix is like a home race for the Mercedes-Benz crew.
Minardi has announced a new sponsorship deal with global hedge fund manager, Quadriga.
A poll in Argentina has revealed thatCarlos Reutemann is considered to be one of the favorites for the 2003 Presidential election.
According to a study by the London-based marketing company Arksports, the amount of money being spent on sports sponsorships will continue to grow.
David Richards, the boss of British American Racing, has made some interesting comments recently about Jacques Villeneuve.
The schedule for this weekend's European GP at the Nurburgring will be shifted to accommodate fans who wish to watch the World Cup match between Senegal and Turkey which begins at 1:30pm (GMT+2) on Saturday.
There seems to be no stopping Australia's Rob Nguyen.
Michael Schumacher is helping out the FIA next week at the latest Euro NCAP launch.
The British Highways Agency has announced that the Silverstone bypass will open in around two months time.
As expected the Grand Prix World Championship organization has named its deputy chairman as replacement for Paolo Cantarella, who resigned from Fiat a few days ago.
Conventional wisdom says that now is not the moment to be floating a company on the stock exchange.
Reports say that despite comments from Ford that the F1 program is safe, the Detroit giant is by no means certain to continue with the Jaguar Racing program.
DaimlerChrysler's Jurgen Hubbert has taken over as chairman of the GPWC.
Arrows Grand Prix International is going to court this week.
A very discreet visitor at the Le Mans 24 Hours was Alain Prost, who turned up at the classic French endurance racing event as a guest of Audi.
It seems that the issue of whether Minardi will get the Prost Grand Prix TV money has taken a new twist after the FIA requested that Formula One Management release the money set aside for Prost Grand Prix.
The FIA has informed the team owners that the Concorde Agreement, on which the commercial structure is based, is full of legal loopholes.
Mark Webber will be testing a Jaguar at the end of next week and it is not really a surprise given that Fernando Alonso was recently seen in one of the British Racing Green cars.
The local authorities of Kerpen are believed to be behind the plan to unveil a statue of Michael Schumacher in the town.
There has been much publicity about comments made by former McLaren driver John Watson that David Coulthard will not be racing for McLaren next year.
Irish woman driver Sarah Kavanagh was rumored last winter to have been close to having a Formula 1 test drive.
The Minardi team's future hangs in the balance as Formula 1 bosses decide whether the team should be given the $12m in TV money.
We are expecting to hear in the next few hours whether or not Minardi will be saved.
The FIA has now announced that the $5m bond, given as a guarantee that everything would be in order, has been returned.
Audi dominated the Le Mans 24 Hours for the third consecutive year with the Audi Sport Team Joest entry of Frank Biela, Emanuele Pirro and Tom Kristensen winning their third consecutive victory in the race.
In karting days and in Formula Ford Jenson Button had to work hard to keep Daniel Wheldon at bay.
Building up Formula 1 in the United States of America was always going to be a lengthy business.
The recent weeks have seen good news for the Indy Racing League but the news that Infiniti is pulling out at the end of the year is a setback for Ton George's series.
Professor Sid Watkins has finally been recognized by the British government for his safety work in Grand Prix racing.
A court in Canada has been hearing of the racing exploits of Frenchman Christopher Rocancourt.
Silverstone is now in the home stretch in its preparations for the British GP.
Paul Stoddart in recent weeks has been asking his legal eagles for their opinion about his situation with regard to the Concorde Agreement.
The Audi Sport team has qualified 1-2-3 for the Le Mans 24 Hours.
CART has reversed its decision to move closer to the rules of the Indy Racing League and will keep its turbocharged engine formula next season.
It is no secret in Formula 1 circles that there is not going to be an agreement between Jordan Grand Prix and Honda next year.
The teams testing at the Jerez circuit in Spain this week wrapped up their week Friday, and will now prepare the equipment for next weekend's European GP.
Tom Wheatcroft, the man who revived Donington Park in 1977 and who in 1993 fulfilled his dream to have the circuit host a Grand Prix, celebrated his 80th birthday this week.
The news yesterday that the finally two Kirch companies have been placed in administration marks an important moment in the history of the Formula 1 commercial rights.
Auto Motor und Sport magazine in Germany has put its reputation on the line by suggesting that it knows in advance what is going to happen when the FIA World Motor Sport Council meets in Paris on June 26.
The Formula 1 team bosses gathered this morning in London for what was expected to be a long and fairly intense meeting to sort out some of the matters of the moment in Formula 1 circles.
The French racing magazine Autohebo is reporting that television coverage of Formula 1 in 14 Asian countries has stopped. Fortunately, this is not true.
Despite all the stories being published on the Internet, the Williams team has not taken up its option with Juan Pablo Montoya.
It has been coming for a while but the final two Kirch companies are reported to be preparing to file for insolvency later this week.
Larry Perkins, who raced for Brabham in the mid-1970s, is to retire from racing at the age of 52.
There is still a lot of action going on in the United States around the CART shareholdings.
Bobby Rahal announced at Laguna Seca that Team Rahal will be running a car in the Toyota Atlantic series next year for rising American lady racer Danica Patrick.
Testing continued in Jerez Wednesday, where Kimi Raikkonen set the fastest lap of the day for McLaren.
In Formula 3000 this season there are three members of the Sperafico Family, but one should also not forget the progress being made by another cousin Rafael Sperafico.
TaurusHolding and Kirch Beteiligung sought bankruptcy protection from creditors in a Munich court on Wednesday bringing to an end the drawn-out struggle to keep them alive.
There have been talks in recent weeks between the FIA and the two Formula 1 tire companies in an effort to work out how to keep lap times in check.
Jos Verstappen may not be in Formula 1 at the moment but he has not lost his love of the sport.
Ricardo Zonta may be out of Formula 1 but he continues to show his class in the Nissan World Series.
The resignation of Paolo Cantarella from Fiat is significant in Formula 1 circles only because it means that the Grand Prix World Championship Holding NV organization is now without its chairman.
The word on the street in the tobacco world is that British American Tobacco is about to make a takeover bid for Britain's Gallaher Group plc, the owner of Benson & Hedges and Silk Cut.
Paolo Cantarella, the boss of Ferrari parent Fiat and the man who was in charge of the Grand Prix World Championship BV bid to start a rival series to Formula 1 has resigned with immediate effect.
The Bayerische Landesbank has been accused of aiding and abetting fraud in relation to transactions involving EM.TV and Kirch.
The American film studio Columbia Tristar is in talks with German banks over a possible bid for the assets of the Kirch company.
The first round of the French parliamentary elections last weekend could be a big boost for motor racing in France.
Former Grand Prix driver Stefan Johansson has withdrawn from the Le Mans 24 Hours just a week before the event is due to take place.
The motor racing world will be crossing its fingers this weekend during the Le Mans 24 Hours as the race organizers appear to have decided to ignore a warning from the FIA.
There are suggestions in the F1 paddock that Tom Walkinshaw's new backer for Arrows is the Austrian drinks company Red Bull.
Three teams resumed testing in Jerez, Spain on Tuesday, kicking off a four day session in sweltering conditions.
Canadian Grand Prix Sunday Race Report
The Prime Minister of Malaysia Dr. Mahathir Mohamad is in Europe at the moment and on Monday visited the headquarters of the Sauber Petronas Formula 1 team at Hinwil in Switzerland.
Rubens Barrichello said after the Canadian GP that Safety Car wrecked his hopes of winning the Canadian GP and criticized the officials for having made that decision.
Canadian Grand Prix Sunday Race Notes
According to the Journal de Montreal, the promoter of the Canadian GP Normand Legault is going to be Bernie Ecclestone's replacement as the head of the Formula One group of companies.
Bernie Ecclestone has always enjoyed being a man of some mystery and an attempt a few years ago to produce a biography was not a great success.
Danny Sullivan's plan to find a young American racer for Formula 1 is beginning to study candidates for the Red Bull-sponsored scheme.
When Formula 1 engineers go from one team to another it is often necessary for them to sit out a six month period of what is known as "gardening leave".
Canadian Grand Prix Sunday Morning Warmup Report
Felipe Massa's accident at Monaco was a frightening one with the Brazilian suffering a rear brake failure at the Ste Devote corner and ploughing straight on into the barriers.
Canadian Grand Prix Sunday Photos
There has been very little movement of late on the F1 driver market for next year.
Canadian Grand Prix Saturday Qualifying Report
The automobile manufacturers which are talking of establishing their own Grand Prix World Championship are to have another big meeting at Silverstone on July 5.
Canadian Grand Prix Saturday Photos
Canadian Grand Prix Saturday Morning Free Practice Report
Mark Webber will go from Montreal to Indianapolis.
Friday practice does not mean much in Formula 1 these days but the performance of the two BAR-Hondas in Montreal on Friday was rather more impressive than has been the case in recent races.
Canadian Grand Prix Friday Afternoon Free Practice Report
The rise of the Internet has created a rather unusual effect in Formula 1 circles as a new type of "journalism" has been created.
Canadian Grand Prix Friday Morning Free Practice Report
There is a recession but the grandstands and hotels of Montreal are all full to bursting again this year.
Canadian Grand Prix Friday Photos
There was much chattering in Montreal about a possible deal between Eddie Irvine and Eddie Jordan for next season.
Deutsche Bank has given the embattled Kirch group three more months to repay a loan which has been secured on the Kirch stake in the Axel Springer publishing company.
The Ferrari with which Gilles Villeneuve won his famous victories in Spain and Monaco in 1981 has been sent to Canada for this year's Grand Prix.
Tom Walkinshaw says that he has found two investors who have taken a stake in the team.
Minardi's new test driver Jirko Malcharek is a member of the Slovakian parliament, a sports commentator and the founder of an organization which is battling against drugs in sport.
David Coulthard was one of many F1 people to stop off in New York on the way to the Canadian GP in Montreal.
Danny Sullivan has given more details of his Red Bull Formula 1 Drivers Search which aims to get an American driver into Formula 1.
The KL Minardi Asiatech team has signed up Jirko Malcharek, an almost unknown Slovakian driver to be its test driver for the rest of the year.
Takuma Sato stopped off on his way to Montreal at Indianapolis Motor Speedway to have a look at the world's most famous race track.
Look at the share price and news surrounding CART and things look pretty bleak.
It is time for the annual Birthday Honors List in Britain and, as in recent years motor racing people have figured strongly.
Team Green has announced that it is appealing the result of the Indianapolis 500 because it feels that Paul Tracy overtook leader Helio Castroneves before a yellow caution light was displayed on the penultimate lap of the 500.
FIA President Max Mosley has told Motors TV that, if necessary the FIA will regulate two competing World Championships.
If you think Grand Prix racing is a can of worms - you may be right.
In June 2000 the late Gabriele Rumi, the boss of the Minardi F1 team, openly admitted that he wanted to sell the team because, he said, "Formula 1 has changed".
Jacques Villeneuve says he would like to drive for Ferrari one day - but only if Michael Schumacher is no longer with the Italian team.
You would have to be something of a hermit to have missed the fact that the World Cup soccer competition has recently begin in Japan and South Korea.
David Richards today celebrates his 50th birthday.
Indianapolis 500 winner Helio Castroneves says that he wants to get his chance in Formula 1 but he says that unless he gets offered a good car he is not going to leave the United States of America.
The Formula 1 team bosses are to gather in London on June 13 to discuss potential rule changes for the 2003 season.
In these difficult times, the marketing men are looking for new ideas and it seems that the Bridgestone/Firestone tire company in the United States has come up with an interesting new idea.
It has been a busy week for the Formula 1 teams with the test drivers much in demand.
Nick Heidfeld was driving a Sauber in the Silverstone test on Thursday when he had a bird hit his helmet as he was going through the high-speed Bridge Bend.
From the very start Jaguar Racing has tried to emphasize the British-ness of it operation - despite the fact it is owned by Americans and run (these days) by Austrians.
The British Racing Drivers' Club, which owns Silverstone, has recently revamped its board of directors somewhat under the chairmanship of Martin Brundle.
The American television networks have given details of how the various motor racing events last weekend did in terms with ratings and there is some good news for Formula 1.