Sources involved in the flotation of Formula One Holdings have said that it is likely to be delayed until September this year.

Although the decision will not be taken until early next week, the chances of the 3-month postponement happening are said to be "fairly high".

The business, which holds the commercial rights to the sport worldwide is valued at around £1.5 billion sterling. There is, however, argument within the sport about the division of money and this is likely to be the cause of the delay.

Summary

Heinz-Harald Frentzen outpaced his team-mate Jacques Villeneuve on Villeneuve's home track. Villeneuve did come to a good third time. Giancarlo Fisichella was second.

Notes

• Coulthard crashed into the barriers at high speed. A front wheel was ripped off, he could walk away unhurt.
• Hill blew up his Spec D engine which left him unable to improve.
  • Weather during session: 21 Degrees Celsius

1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. 21. 22.

Frentzen (Williams) Fisichella (Jordan) Villeneuve (Williams) Alesi (Benetton) Panis (Prost) Herbert (Sauber) R. Schumacher (Jordan) Irvine (Ferrari) M. Schumacher (Ferrari) Barrichello (Stewart) Wurz (Benetton) Hakkinen (McLaren) Morbidelli (Sauber) Coulthard (McLaren) Diniz (Arrows) Salo (Tyrrell) Hill (Arrows) Verstappen (Tyrrell) Katayama (Minardi) Nakano (Prost) Magnussen (Stewart) Trulli (Minardi) 107% rule

1m 20.289s 1m 20.416s 1m 20.552s 1m 20.624s 1m 20.727s 1m 20.876s 1m 20.930s 1m 20.987s 1m 21.201s 1m 21.269s 1m 21.315s 1m 21.372s 1m 21.415s 1m 21.468s 1m 21.777s 1m 21.848s 1m 22.460s 1m 22.550s 1m 22.708s 1m 22.930s 1m 23.826s 1m 24.131s 1m 25.909s

The Quotes

• Fisichella: "The car went well and had only a few small problems which we can adjust for tomorrow's qualifying session, so I feel very optimistic."

• M. Schumacher: "I am quite happy with the way the practice went as I found a good set-up. I am not worried about my position (9th) compared to the others, as unlike them, I only used one set of tyres. In the last few minutes I did not go out as the rain in the second part of the session meant I was unable to finish the programme. However I had damaged my front left tyre and I did not want to use a new set for just a few laps."