Coulthard given a vote of confidence

David Coulthard has been given a vote of confidence by his team bosses. The 27-year-old Scot has been told to ignore all the rumours that two-time world champion Michael Schumacher is about to pinch his prized seat in the all-conquering McLaren.

Coulthard has been forced to endure speculation that the Mercedes-powered team were set to prize the German away from his £30million contract with Ferrari.

But Coulthard has been given a strong indication that he will be with McLaren next season, even though team chief Ron Dennis has described Schumacher as the world's best driver.

"Ron has taken steps to assure me that there is nothing to the rumours," said Coulthard, who is five points ahead of Schumacher in the world championship standings but seven adrift of team-mate Mika Hakkinen.

Schumacher's reputation has been partly built on his record in Monte Carlo of three wins in four years and five successive appearances on the front row of the grid.

But Coulthard believes the pressure of expectation that the 29year-old should do it again this weekend, despite McLaren's vast early-season superiority, is telling.

"Michael is on edge, which I think is why he went off in practice on Thursday," said Coulthard, who was third fastest, as he prepared for the resumption of action today after yesterday's traditional rest day.

"He has got a great record here, but that does not mean he can walk on water. Michael was only fifth fastest in practice which, if it happened in qualifying, would not be good."

Hakkinen, despite his poor record in recent years on the most demanding circuit in the world, was faster on Thursday but Coulthard is confident he can turn the tables in this afternoon's qualifying session.

"I've been quicker than him in qualifying in the last couple of years and am confident I can do it again."

Formula One supremo Bernie Ecclestone's plans for a successful flotation of Grand Prix motor racing on the stockmarket moved a step forward yesterday. His scheme took shape when a row over the sport's constitution, the Concorde Agreement, was settled. After a year of intense negotiations, Formula One's 11 teams were due to sign a new draft of the agreement with Max Mosley, president of the International Motoring Federation (FIA), and Ecclestone.

Williams, Tyrrell and McLaren had previously refused to sign the last agreement formulated in 1996, while it is believed that Sauber and Arrows had been holding out on signing the new version which has effectively been drafted by McLaren.

Arrows boss Tom Walkinshaw had been objecting to a clause allowing teams to change their names, while Swiss team Sauber wanted to be sure the agreement would not get them into trouble with the European Union, which is currently looking into whether Formula One contravenes EU competition law.

Although having all the team's support was not mandatory for Ecclestone to proceed with his plans for a float, the news of a new agreement will certainly boost his hopes that it will go ahead successfully.