Formula One Group

Nascar team owner Gene Haas has said he is yet to decide whether to launch his new Formula One motor racing outfit in 2015 or 2016, but said he plans to “beat the Europeans at their own game”.

Sao Paulo officials have signed a six-year extension to their contract to host Formula One’s Brazilian Grand Prix, while Rio de Janeiro has been dropped as a venue for the new Formula E motor-racing championship.

Stefano Domenicali has resigned as Ferrari’s Formula One team principal, stating his decision has been made to “shake things up” following the iconic Italian outfit’s poor start to the 2014 season.

The International Motorsport Federation (FIA) has accepted the proposal of a new Formula One entry by Nascar team owner Gene Haas, adding that it is also considering another bid from the Forza Rossa organisation.

Russian sports car manufacturer Marussia Motors has relinquished ownership of its self-titled Formula One motor racing team and has ended its car making operations.

International Motorsport Federation (FIA) president Jean Todt has stated plans to introduce a cost cap system into Formula One next season have been abandoned, while the motor racing series’ chief executive Bernie Ecclestone has said F1 has agreed to admit two new teams.

Formula One chief executive Bernie Ecclestone has said a new US-based team could join the motor-racing series for the 2015 or 2016 season.

Ferrari ace Fernando Alonso is the most marketable driver in Formula One ahead of the start of the 2014 season of the motor-racing championship, according to sports marketing company Repucom.

Jean Todt, president of the FIA, has said motorsport’s global governing body remains focused on introducing a cost cap system into Formula One next year, despite opposition from team owners who believe the concept is unworkable.

Norges Bank, which manages Norway’s $850bn (€620bn) sovereign wealth fund, has been told by the country’s politicians to answer questions on its acquisition of a stake in the Formula One motor racing series in May 2012.

An investor group led by Miami-headquartered buyout firm HIG Capital is closing in on a deal to acquire historic German race track the Nuerburgring, according to the Reuters news agency.

Azerbaijan is set to secure a spot on the Formula One calendar, according to the motor-racing championship’s chief executive, Bernie Ecclestone.

Long Beach officials are today set to debate the merits of returning a Formula One motor racing event to the Californian city.

Bernie Ecclestone will not be removed from his role as chief executive of Formula One for the time being at least, according to CVC Capital, the private equity company that operates the motor-racing championship.

The Formula One Teams' Association (FOTA) has been disbanded due to the “changing political and commercial landscape” in the motor racing series.

Formula One supremo Bernie Ecclestone has hit back at criticism of the scheduling of this season’s United States Grand Prix from a local Nascar race organiser, highlighting the difficulties involved in drawing up a calendar for a “world championship” versus that of a “domestic series”.