Adam Cooper F1

Friday evening is a strange time for an F1 team to issue news, and even stranger was the preamble to tonight’s press release from Williams, which reads “NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, TO US PERSONS OR INTO THE UNITED STATES OF AMERICA, OR INTO OR FROM CANADA, JAPAN OR AUSTRALIA.”

Somehow that sums up the complex world of high finance that Williams is jumping into by offering shares for sale on the Frankfurt Stock Exchange. The days of Sir Frank operating from a phone box on the corner have long gone…

It’s probably safest to let the team tell its own story:

“Williams Grand Prix Holdings PLC (Williams) confirms its intention to launch its Initial Public Offering (IPO) on the Frankfurt Stock Exchange. Swiss-based Bank am Bellevue AG will act as sole global co-ordinator and sole global book runner.

“The offering will consist of up to 27.39% or 2,739,383 existing shares, with a nominal value of GBP 0.05 each, of which up to 330,000 shares will come from an over-allotment option. Sir Frank Williams will remain the majority and controlling shareholder of Williams and Team Principal of the AT&T Williams team.

“Bookbuilding is expected to begin on 9 February 2011 and is scheduled to conclude on or around 28 February 2011. The first day of trading on the Entry Standard segment of the Frankfurt Stock Exchange is expected on 2 March 2011. The bookbuilding price range and final placement price are expected to be published on or around 9 February 2011 and 28 February 2011 respectively.

“Williams operates one of the most successful teams in Formula One history. Founded in 1977 by Sir Frank Williams and Patrick Head, the team has won nine Constructors’ and seven Drivers’ championships. Williams is also active in the areas of applying Formula One technology to a growing range of civil and industrial applications with the express aim of conserving energy, developing educational programmes and assisting international road safety initiatives.

“Williams has remained an independent constructor in Formula One since its inception over thirty years ago and its objective with the IPO is to secure a sustainable ownership structure for the future. The offering will be a unique opportunity for investors to be part of a global and ever developing industry.

“Swiss-based Bank am Bellevue will act as sole global co-ordinator and sole global bookrunner. Baader Bank will be joint lead manager and local bookrunner for Germany. Austrian GBR Financial Services and Online Brokers DAB (Germany) and Brokerjet (Austria) will be selling agents.

“The IPO will include a public offering in Germany, the UK, Austria and Switzerland and a private placement for institutional investors outside Germany, the UK, Austria and Switzerland, the United States of America, Canada, Japan and Australia.”

So there it is. Get your chequebooks out!

Team Lotus stayed on for an extra solo day in Valencia, and after some filming work in the morning the team finally got down to some proper running.

The first two days had been blighted by power steering problems that could not be fixed until new parts arrive today.

Portuguese GP2/F2 driver driver Ricardo Teixeira joined regulars Jarno Trulli and Heikki Kovalainen today and got his first taste of an F1 car. Trulli did a best of 1m15.639s, and it’s clear from the comments of both regular drivers that the T128 represents a big step.

“Valencia was an excellent test for me,” said Kovalainen. “Even though we had some issues with the power steering on the first couple of days you have to remember we weren’t even at the first two tests last year. Now we have a car that was ready to go with everyone else at the first test and to be able to run today without any problems is great.

“We have been able to start looking at the balance of the car in much more detail and I’ve had the same feeling that I did on day one – I think we have a good car for this year and as we continue to work on it here and at the other pre-season tests we can put some proper mileage on it without the reliability worries we had last year.

“On the car itself one of the most tangible improvements from last year is the lower centre of gravity we have this year. It’s a smaller chassis and we can place ballast under it much more effectively, which means the whole car feels balanced in a way we didn’t experience last year.

“Now, I can turn in without having to constantly correct oversteer or understeer and as the whole rear end has been designed with the Renault engine and Red Bull gearbox in mind, it is aerodynamically much more efficient. It’s basically a very good platform for us to develop, and to be able to feel that immediately is a very positive sign for me and the whole team for the season ahead.”

“It was a great day for the whole team,” said Trulli. “We completed 91 laps with basically no problems and we’ve been able to start to get a feel for the car which was really what this test was about. I agree with Heikki about the balance – it feels like we have a good car to work on in the next few tests and I think that we can pretty quickly get it to a point where it will give us a chance to fight with the teams ahead.

“The next test is only a few days away but I think there will be a lot more to come there in performance terms, and it will be good to get back in the car in Jerez and get more mileage under our belts.”

Technical director Mike Gascoyne said he was happy with progress: “An extremely productive day. It was good to get the power steering fixed and back on the car for today so well done to everyone at the factory for turning that around so quickly. We completed 91 laps today with no real problems and both drivers managed to get a good feel for the car and the tyres. We weren’t able to do any set up work – that will wait for Jerez, but it was an excellent day and we achieved the main goal of completing a decent mileage today.”

Dany Taner Bahar – to give him his full name – is now a director of Lotus Renault GP Limited.

The Group Lotus CEO joins Genii Capital Group Chairman Gerard Lopez and CEO Eric Lux on the board, the Genii pair having been appointed exactly a year ago.

The Bahar appointment was made on December 20, although the official paperwork has only just reached the public domain. In it Bahar uses the Zurich address of Muermans Properties AG, with whom is also involved. He lists his business occupation as ‘director.’

Team principal Eric Boullier, who had been a director of Renault F1 Team Limited, ceased to be so in December. Jean-Francois Caubet – the man who picked up the reins for Renault (the manufacturer) after the departure of Flavio Briatore – also left at that time.

Group Lotus is in the process of buying a stake in the team from Genii, although there are conflicting reports as to whether that has already started or Group Lotus has an option that has not yet been acted upon.

Lotus Renault GP Limited started life as Toleman and has variously been known as Inremco 60, Benetton Formula, Renault F1, and Renault F1 Team. The latest change came in December.

McLaren’s technical team say that the major focus of aero work this winter was to optimise airflow to rear wing in order to help make up for the double diffuser ban.

The sidepods and cooling arrangement of the new car are the most intriguing features. It remains to be seen whether the front of the sidepods reflects an intention to add a Renault-style exhaust exit in the coming weeks.

“I think there are some novel features on the car – the long wheelbase and U-shaped sidepods are probably the most obvious examples,” says engineering director Tim Goss.  “The thinking behind that is to feed as much good-quality air as possible to the rear-lower mainplane and the floor of the car. We want to get the rear-end working as well as possible following the loss of performance caused by the banning of the double-diffuser.

“For 2011, KERS is now a single integrated unit that sits within the survival cell, beneath the fuel-tank. In 2009, it was housed in the sidepods. The hybrid’s cooling intake sits directly below the main rollhoop intake.  And, once again, we’ve really pushed the car’s cooling configuration: we’ve got a second air intake on the engine cover for gearbox and hydraulic cooling.”

Regarding the biggest challenges of 2011, Goss says: “For me, there have been two: recovering the rear downforce we lost following the banning of the double-diffuser, and fully exploiting the Pirelli tyres. The tyres only last for around 10 laps, and making them last longer is quite a challenge. So we need to look closely at how we configure the set-up and suspension to make the tyres last.

“We set ourselves a very ambitious aerodynamic target for 2011. We always want to do more and we’re always very critical about performance, but we feel we’ve done a good job. We’ve identified some areas where we can add performance to the car – over the next weeks, the task will be to get them on to the car and reliable by the first race. That’s the big challenge.”

Technical director Paddy Lowe says that the team has worked with Mercedes GP to get the ideal KERS packaging.

“Getting KERS back on the car was a big task,” says Lowe. “Collaborating with Mercedes GP to define the specification for Mercedes-Benz HighPerformanceEngines was very satisfying: there was great collaboration and co-operation between us. There can be lots of difficulties finding alignment between two teams, but I’m pleased with how we made it happen and very happy with the outcome.”

“The system was also more difficult to package because you’ve got to carry more fuel,” said Goss. “That was the first challenge, but we got through that. There were a few difficult decisions concerning architecture around different aerodynamic concepts, but I think we ended up with a design layout we’re happy with.”

The MP4-26 certainly looks the part. 8500 of them in fact!

The McLaren Mp4-26  was shown today in Berlin, and it will certainly have set rival teams thinking.

It remains to be seen whether the decision to skip the Valencia test – and spend those extra days on R&D – will pay off. The car will be given its first shakedown in the hands of Gary Paffett in straightline running in Spain on Tuesday, before going on to the Jerez test. The stunning looking car has dramatic looking sidepods, and a very compact rear end.

“The MP4-26 is the result of an incredible amount of hard work, innovative thinking and dynamic teamwork,” said Martin Whitmarsh. “Under the leadership of Paddy Lowe, Tim Goss and Neil Oatley, our design department is more integrated than ever: in fact, I’m particularly proud of the contributions made by our project engineers, many of whom have taken on leadership roles for the very first time and who had worked so well together to create this very striking and individual-looking car.

“While we’re all hopeful of once more adding to our tremendous record in Formula 1, this sport is so unpredictable and finely pitched at the moment that it’s impossible accurately to forecast the state of play until the season starts next month. That’s a tantalising prospect for Formula 1’s many millions of existing fans – and, I hope, something that will attract many millions more by the end of what looks set to be an absolutely fantastic year.

“I think today’s innovative launch demonstrates the enthusiasm within Vodafone McLaren Mercedes to engage the general public; to show them that our sport is intense and exciting, and that we’re very keen to showcase Formula 1 to the wider world.

“Through the efforts of FOTA, we really want broaden the sport’s appeal while also introducing innovative and energy-conscious new ideas that will simultaneously improve racing and help generate new technologies within the motor industry. I’m hopeful that Formula 1 stands poised on the cusp of an incredible new era.

“With Lewis and Jenson, we have two of the most exciting, charismatic and high-profile personalities in the sport, and the whole team feels a powerful sense of responsibility to provide them with the very best machinery with which to showcase their very evident talents to the world.”

Andy Green has been given the technical director role at Force India, having previously been director of engineering.

Green, who 20 years ago was Gary Anderson’s right hand man in the creation of the Jordan 191, returned to the Silverstone team last year after a break that included spells at BAR and RBR. Last year the team lost James Key and Mark Smith to Sauber and Team Lotus respectively.

The team has also extended his gearbox supply deal with McLaren until 2012.

Vijay Mallya said: “I am very pleased to formally confirm Andrew will step up to become the team’s technical director. He knows the team inside out, both from his previous tenure with the team and through his position this year. I am also delighted to be able to give Andrew and his team the stability and opportunity to take us forward with the extension to the McLaren Applied Technologies contract.

“The partnership with McLaren and Mercedes has matured into one of the most successful relationships on the grid. In 2009 we scored 13 points, one pole position and one podium and in 2010 we secured our highest-ever championship position and 68 points overall. I’ve always said I would like to see a Force India on the podium at the Indian GP and I believe we have the resources, both human and technical, to do it.”

Martin Whitmarsh said: “I’m delighted that we’ve been able to extend the programme of co-operation between McLaren Applied Technologies and Force India. Force India has continued to develop as a team during the 2010 season, and to improve year on year its competitive position, and we’re pleased that McLaren Applied Technologies has played a key part in that performance.”

Felipe Massa’s hopes of a change of fortune in 2011 took a knock when the F150 caught fire within an hour of the start of testing in Valencia.

It was the normal sort of testing problem – something coming adrift and dumping oil onto the hot exhaust – but it took a few hours to repair the damage caused. Nevertheless after he did get out he managed to log a total of 80 laps.

“We had a problem right at the start of the morning, when I was out on very old tyres,” said. Felipe. “It was not nice having to stop pretty much before I’d started the real work, but then, it was a relief to find out it was nothing that serious. Unfortunately, I lost a lot of time and, in the afternoon I tried to make up for it and get a feeling for the new car.”

Having been fast in the Abu Dhabi test in November, he made some interesting observations about the tyres.

“I am pleased with how they behaved. I think that the fact there is a definite level of degradation is a positive thing in terms of the spectacle. It’s a shame I wasn’t able to do more laps, but the feeling I had was similar to the one from Abu Dhabi, even if that was at the wheel of a very different car.

“In my opinion, there is not that much that needs changing and I think Pirelli is working in the right direction. We did not try the hardest tyre here, because this track is not best suited to them: when we have done that, then it will be possible to give a more complete evaluation of them.”

The Williams spy could have chosen a better disguise

There is always fun and games in the pitlane at testing as teams try to get a look at other new cars while protecting their own intellectual property, and with eight 2011 models on view at Valencia this week there has been much to keep an eye on.

All teams study internet pictures and employ photographers to provide them with shots of their rivals’ machines. However in Valencia Williams used one of its engineers – someone who obviously knows what he’s looking for – to get some shots.

At least the team was open about it and didn’t use a ‘ringer’ like others are known to have done. A former Ferrari aero guy who famously once got caught taking pictures when out of team kit at a test also used to give an Aussie GP pass to a Melbourne-based relative. The fellow duly ambled up and down the Albert Park pitlane on the Wednesday and Thursday with his camera, looking every inch the tourist…

Of course they all know that the others are doing the same as them, which is why Red Bull covered the rear of RB7 with a silver blanket every time it came in, the crew looking menacingly around like a bunch of would-be bouncers. It’s a fruitless task. When Sebastian Vettel stopped during last year’s Australian GP a manufacturer team that employs its own full time photographer soon received a full portfolio of views of the blue machine.

Not every team took kindly to the presence of the Williams representative in Valencia. When he gatecrashed the Toro Rosso launch and tried to get shots of its trick aero – from a spot even the invited media had been asked to vacate – he was told by a team spokesman to ‘f**k off…’

NASCAR espionage lags behind F1

Like several other drivers Rubens Barrichello has expressed concerns about the amount of work drivers have to do in the cockpit this season.

Yesterday the Brazilian tried KERS and the movable wing for the first time, and found it hard to focus on the actual driving.

“The only drawback from the day is that the number of buttons on the steering wheel can distract you from the driving,” he said. “I don’t think it’s a danger, but I think it’s a concern. In terms of execution, the additional controls are obviously necessary, but people have different steering wheels, so drivers may therefore be able to reach some buttons easier than others. The problem is you are taking your eye off the road.

“There is not a single straight where I don’t press a button and change gear. In my role in the GPDA we will keep talking about this, but I think the FIA will let us practice a little more. I think the strong comments will come now but will lessen as people get used to things.”

Rubens says he’s happy with the latest Pirellis: “I ran the medium tyre for most of yesterday. They seem quite hard which is causing us to slide around a bit too much, but the soft compound seems to be fine.”

Karun Chandhok is present at the Valencia test wearing a Team Lotus jacket, but team principal Tony Fernandes says that the Indian driver is not yet officially confirmed in the reserve driver role.

However it would be logical for the team to have someone on hand with recent F1 racing experience, much as Lotus Renault has engaged Chandhok’s former HRT team mate Bruno Senna.

“Karun’s here as a guest,” said Fernandes. “I’m not someone who’s going to rush into things. Karun is definitely on the list. I want it to be a team effort, I want everyone to feel comfortable. A lot of people get shoved into it, but it’s not my style. ‘Here, take this reserve driver, and do this.’ I want everyone to feel good about it. And I think the reserve driver has go to contribute, he’s got to feel part of the team.

“Today is for him to see what the team’s like. I think he likes us a lot, but he would, because he hasn’t got anything else! Let’s be real. But I want the team also to gel with him. I think he’s a good lad, I think he can add a lot of value to the team. There are a few other guys, we’ve got a GP2 team as well. I really would like the team as well, but I would definitely like Karun involved in some way, shape or form.”

Although the sister Air Asia GP2 team has yet to formally confirm Luiz Razia and Davide Valsecchi, Fernandes admitted that his juniors could do some Fridays mornings – which is what the drivers themselves have told the media.

“We are going to give, depending upon the performance, about four slots, four to six slots for Friday. My whole thing is if they prove themselves… It won’t be any time early, but it’s also a motivational thing. It gives them a buzz to be there, and get in an F1 car etc. That’s something where I’m controlling the process a little bit, to make sure we get the right mix.”