F1 Grand Prix of China - Race

F1 owners to release documents in $171m damages case

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CVC Capital Partners, the owners of Formula One, have been ordered to release hundreds of documents as a German media group pursues them in court for damages of $171 million.

Constantin Medien claim a stake held in F1 by the BayernLB bank was undervalued when CVC purchased F1 in 2006. The case will begin in October.

The Financial Times reported CVC will have to hand over due diligence reports on F1, items from a letter Bernie Ecclestone sent to CVC about F1’s income, CVC application for a loan, minutes of meetings, financial modeling and tax information.

Among those expected to be called as witnesses are Ecclestone, F1’s chief financial officer Duncan Llowarch and CVC co-chairman Duncan MacKenzie. Ecclestone’s lawyers say the stake was sold for a fair price.

The case comes at a sensitive time for F1’s owners as Ecclestone faces charges of bribing German banker Gerhard Gribkowsky during the sale of F1 to CVC.

The timing of the Constantin Medien case is set to coincide with CVC and Ecclestone’s plan to float F1 on the Singapore stock exchange later this year and could jeopardize their plans. A previous attempt to float F1 last year was postponed due to volatility in world markets.

Wolff: Wehrlein, Ocon deserve Formula 1 roles

SPIELBERG, AUSTRIA - JUNE 23:  Pascal Wehrlein of Germany and Mercedes GP drives during Formula One testing at the Red Bull Ring on June 23, 2015 in Spielberg, Austria.  (Photo by Andrew Hone/Getty Images)
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Mercedes AMG Petronas team boss Toto Wolff believes that junior talents Pascal Wehrlein and Esteban Ocon have both earned their roles in Formula 1 for the 2016 season “on merit”.

Wehrlein will make his grand prix debut in 2016 with Manor Racing after winning the DTM title for Mercedes last year, becoming the youngest champion in the history of the series.

Ocon has been loaned to Renault Sport F1 Racing for its comeback season, and will work as the team’s reserve driver following his GP3 title success last year.

Wolff feels that both drivers deserve their chance in F1 this year, and also said that Mercedes will look to expand its junior program across the course of the season.

“We’re delighted that Pascal and Esteban will tackle a fresh set of challenges in 2016,” Wolff said. “Our aim is to build their experience in the best possible environment and, following positive discussions with our counterparts at Manor and Renault, it became clear that their respective Formula 1 programmes presented ideal opportunities to achieve that.

“It is very pleasing to see young drivers earning their spot in Formula 1 on merit and to see that talent is being rewarded by the system. Pascal and Esteban have proven themselves to be amongst the top young drivers out there – and both come into 2016 as champions of their respective series.

“But they still have plenty to learn and they will be staying humble, with their feet on the ground. This is an important year for them and we will be following their progress with great interest, while also looking to expand our junior program.

“Mercedes-Benz has a strong tradition of developing young racing talent and our eyes are very much open to other promising prospects for the future.”

Social roundup: When Mika Hakkinen met CJ Wilson, and other cool shots

SHANGHAI, CHINA - APRIL 15:  Former F1 World Champion Mika Hakkinen is seen during practice for the Chinese Formula One Grand Prix at the Shanghai International Circuit on April 15, 2011 in Shanghai, China.  (Photo by Clive Mason/Getty Images)
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What happens when you put a McLaren P1 owned by baseball star and CJ Wilson Racing team principal, and occasional driver, CJ Wilson, with two-time F1 World Champion Mika Hakkinen, and you turn them loose at The Thermal Club for a track day?

Pure awesomeness.

Of course there’s other cars besides the McLaren and hockey legend, Teemu Selanne, was also on site.

This really isn’t a post so much that needs words, but one that does need proper photos and noise.

The CJWR pairing of Marc Miller and Daniel Burkett, who drive the No. 33 One Capital/Motor Oil Matters Porsche Cayman GT4 Clubsport dubbed “Darth Cayman” in the Continental Tire SportsCar Challenge, have been coaching and driving at an event this weekend out at The Thermal Club, a luxury race track in California.

See a mix of photos and videos below:

Ecclestone gives Monza until end of February to resolve F1 future

MONZA, ITALY - SEPTEMBER 06:  Lewis Hamilton of Great Britain and Mercedes GP celebrates on the podium next to Sebastian Vettel of Germany and Ferrari after winning the Formula One Grand Prix of Italy at Autodromo di Monza on September 6, 2015 in Monza, Italy.  (Photo by Mark Thompson/Getty Images)
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Formula 1 CEO Bernie Ecclestone has given officials at the Autodromo Nazionale Monza until the end of February to resolve the future of the Italian Grand Prix.

Monza has hosted the Italian Grand Prix for all but one year since 1950 when the F1 world championship was formed, establishing itself as one of the series’ most historic and legendary venues.

However, its future has come under increasing scrutiny in recent months following a cut in the amount of tax relief that the race receives by the Italian government.

Ecclestone said back in November that he had “no doubts” the race would remain on the calendar and extend its contract beyond the end of 2016 when it expires.

However, the 85-year-old has now cast fresh doubt on the race in an interview with Reuters, giving the circuit until the end of February to resolve its future.

“It’s Italian. A lot of conversations at the moment and not much action,” Ecclestone said.

“They said to me a few months ago: ‘Everything is sorted out, we know exactly where we are and it’s all agreed and no dramas.’

“And now I heard yesterday it’s become very political… They’ll get on with it. Or not. I don’t know what’s going to happen. Nothing we can do about it.

“The only people that can sort this out are the people that are currently involved in Italy. They can take as long as they like, provided it’s by the end of this month.”

The 2016 Italian Grand Prix is set to take place at Monza on September 4.

Here’s what a sub-4 second, 300-mph NHRA driver’s eye view looks like

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This was published earlier this week from NHRA Mello Yello Drag Racing Series testing at Wild Horse Pass Motorsports Park in Chandler, Ariz., but the timing of it being posted today is to serve as a teaser to the 2016 NHRA season at Pomona Raceway in California.

Ride on-board with Shawn Langdon of Don Schumacher Racing for a test run. This is simply nuts, as thousands of horsepower are put to the ground for a 3.77-sec, 316 mph pass in testing.