Jordan GP chief Alexander Schnaider announced the signing of the 28-year old Indian and Tiago Monteiro of Portugal as its race drivers for the season.
McLaren's Fernando Alonso faces a time penalty in Sunday's Austrian Grand Prix as well as starting from the back of the grid as a result of exceeding his engine allocation for the season.
The driver's manager Willi Weber announced the donation on a German television fundraising drive which raised over 34 million euros ($46.2 million) in pledges.
That was only the 12th time that a driver had started that low and won.
The final three races will decide whether Ferrari's Michael Schumacher, Williams' Colombian Juan Pablo Montoya or Raikkonen takes the F1 title.
Five-times Formula One world champion Lewis Hamilton led a Mercedes front-row lockout with a blistering pole position at the season-ending Abu Dhabi Grand Prix on Saturday.
More than 100,000 viewers voted in the contest, which was broadcast on ZDF television.
Renault's world champion Fernando Alonso will race for McLaren in the 2007 season
The Jordan driver viewed his practice rounds on Friday in dusty and dry conditions as a "good start" to the weekend.
The Briton expressed his disappointment that the Brazilian had decided to leave Ferrari for BAR at the end of the season.
The retired seven-time Formula One world champion Michael Schumacher was still in coma.
Wimbledon champion Andy Murray, the first British winner of the men's title for 77 years, was named BBC Sports Personality of the Year on Sunday.
The court had on January 4 declared Mallya a proclaimed offender for evading summons in a FERA violation case after noting that he failed to appear before it despite repeated summonses.
Valtteri Bottas won the Azerbaijan Grand Prix on Sunday and retook the Formula One lead from team mate Lewis Hamilton after a fourth successive one-two finish for Mercedes.
The 1998 and 1999 Formula One world champion tested a Mercedes DTM touring car.
Formula One world champion Michael Schumacher gave his seal of approval to Ferrari's new F2004 challenger on Friday after giving it an impressive track debut.
Ferrari kept Brazilian Rubens Barrichello off the track for Saturday's opening practice at the Bahrain Grand Prix after having to rebuild his new car's gearbox.
TAG Heuer brand ambassador and 2003 Formula One World Championship runner-up Kimi Raikkonen was extensively involved in the design of the Formula One range.
Formula One world champion Michael Schumacher was named Laureus world sportsman of the year for the second time.
Michael Schumacher of Germany, driving a Ferrari, has won the San Marino Formula One Grand Prix.
Schumacher's existing deal was due to expire at the end of the 2004 season.
The former F1 world champion lauded the pit-crew for putting out the fire that engulfed Schumacher's car during Sunday's Austrian GP.
The 'Red Shark' looked impressive in Friday's practics for the Spanish Grand Prix.
Doctors treating seven-times Formula One world champion Michael Schumacher will begin lowering his sedation level in order to start the process to wake him up, his agent said on Thursday.
Jaguar must raise their game immediately if they are to retain Australian Mark Webber next season, says three times Formula One world champion Jackie Stewart.
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