The New Year brings new hopes and dreams for all the Formula One teams, even amidst a difficult financial situation and ahead of a year which many expect to be crucial for the future of the sport. As the clock continues to tick towards the Australian Grand Prix it's time to unveil the cars which will decide what a team's season is going to be like. Atlas F1's Will Gray previews the team launches as Formula One gets ready to reveal all

Heralded in with champagne and celebrations, the New Year brings with it dreams of new pleasures and greater achievements. This year, we always hope, will be better than the last.

In Formula One terms, for everyone but Ferrari, those dreams look less achievable than ever this year - but even so, there is always a ray of hope as the annual Formula One car launches begin. As the clock continues its countdown to the Australian Grand Prix in March, there is massive anticipation as Formula One prepares to reveal all. But an air of reality has descended upon the Formula One field.

With the days of Formula One innovation long behind us it is unlikely that anyone will come out with an ingenious idea that can bridge the gap between the best and the rest, and the celebrations and fanfares heralding each team's new age are sure to be muted this year.

It is not, however, simply the expectation of the Italian stable's continued dominance that will reduce the drama of the launch season, but also the current crippling financial crush which has left teams at the back of the grid scrambling for survival. In years gone by, team after team, big or small, spent millions of pounds on lavish launches in a desperate effort to out-do the last event and secure the greatest global coverage for the sponsors.

McLaren set a precedent for such high-profile unveilings in 1997, when Formula One's financial and popularity boom was at a massive high and the team invited journalists and camera crews to London's Alexandra Palace for an event that eclipsed all others.

The launch saw pop icons the Spice Girls on stage, at the height of their fame, to reveal the team's new machine as Scot David Coulthard and Finn Mika Hakkinen looked on in amazement.

Baby, Sporty, Scary, Ginger and Posh didn't have the first clue what they were unveiling - but it didn't matter. Their presence caught the public eye and that was all that mattered. Sponsors at all ends of the grid wanted to enjoy such lavish entertainment and many teams were forced to follow suit.

Jordan launched their first car in a garage at the side of the Silverstone racetrack in 1991 in front of just 11 members of the media. Seven years on, as they built on a successful season in 1997, they pulled out all the stops in a bid to hit the big time in 1998.

With the signing of Briton Damon Hill, their first World Champion driver, they were determined to make the most of their rocketing popularity. The sensational Royal Albert Hall, in London, was chosen as their launch venue, with the world-famous Cirque du Soleil the entertainment. The car, it seemed, was more the understudy than the main event.

The team won their first race that year - a one-two finish at the rain-soaked Belgian Grand Prix with Hill and Ralf Schumacher - so, in 1999, they continued their affluent displays with a trip to the London Palladium where the car was magicked onto the stage. The coverage in Britain was huge.

Perhaps the most extravagant recent launch, however, took place in Venice when Benetton bid farewell to the sport, having been taken over by Renault the previous year.

The former World Champion team made the most of their final launch by asking the mayor of Venice, Paolo Costa, to allow them to unveil their car in St Marks Square. They spent half a million dollars and even hired gondolas to ferry the media and special guests around the watery city. But was that the final swan song for pre-season sensationalism?

This year, after a 2002 season dominated by talk of cost cutting and bankruptcy, the astronomical cost and time involved in setting up such occasions seems out of place and inappropriate. Last year, Prost and Arrows hit financial ruin and three other teams - Jordan, BAR and Jaguar - made significant redundancies to 'streamline' their staff and ensure their continuation in the sport.

Those actions and events have made it hard for those teams - and for any team - to justify a sponsor-pleasing show launch in 2003 and for most teams the launch has now become a more functional event once again. Jordan, now struggling financially compared to the years of spectacular launches, have ditched thoughts of holding a lavish event as they seek a sponsor to complete their budget.

Last year, the team delayed their launch as they searched for a new title sponsor and then spectacularly flew their new car into Brussels airport on a jumbo jet to reveal a brand new deal with international haulage company DHL. But they lost that funding after the one-year deal was concluded at the end of last season and they have admitted that the now delayed launch will be an understated affair.

"Dancing and circus acts are a thing of the past," said a Jordan spokesperson. "I expect we will have the car running unliveried first and then have a launch. We will not just roll the car out of the garage but it will not be a big event. We had hoped for the launch to be in the middle of January but that will certainly not be the case now. The date and location will be decided once the sponsorship is done."

At least Jordan are going to have a launch. Jaguar, who made 74 people redundant in December, are not even going to bother and will unveil their car in a 'virtual' launch over the internet. The team have done as much as they can to soften the blow since the knife fell on many of its employees and they even cancelled the Christmas party to show they are not throwing money around.

"It would not be right to sack a load of people then throw lots of money into a launch," said a source at the team. "If we are going to spend money anywhere then it will be to make the car go as fast as we can."

Such a philosophy comes straight from the minds of Williams Grand Prix Engineering, who have for years unveiled their car in a quiet manner, always accentuating the 'Engineering' in their title and insisting they are not a PR machine. Last year, their launch took place in a marquee at Silverstone. This year it will quite probably be the same - and most other teams are expected to join that tradition of minimum fuss as they put more money into making the car fast than showing it off.

Toyota and British American Racing will be the first teams to reveal their 2003 machines and both will follow the Williams trend by launching cars at the testing venues of Paul Ricard, in France and Barcelona, in Spain, respectively. Japanese giants Toyota will be first up, on January 8, almost a month later than their first Formula One race car launch, which took place at their factory in a snowy and wintry Cologne in December 2001.

Rival Japanese manufacturer Honda, and their team British American Racing, will follow just six days later, and new signing Briton Jenson Button is sure to prove a talking point for BAR just as Brazilian CART champion Cristiano da Matta will for Toyota.

Bucking the trend of simplicity is a hobby for those at Renault, and this time they have revealed a confusing plan to hold two 'launches' for their R203. They will be the next to go with a double launch on January 20 and 23.

The complicated solution is, however, a cunning plan to satisfy everyone. The first launch, at the Lucerne Culture and Convention Centre in Switzerland, allows the team to display full tobacco advertising livery. The second, at the Paul Ricard circuit in France, allows journalists and photographers to see the car run and will allow the team to derive the maximum coverage in their 'home' country.

Ferrari are sure to have their usual exclusive and workmanlike event at the Maranello factory, Minardi could be anywhere or everywhere depending on who ends up as their main sponsors, while McLaren probably won't have a launch at all. Last year, the Mercedes-powered team put on a spectacular party for the media at the Baja Beach Club in Barcelona with special palm tree-printed launch t-shirts that were even worn by German engine boss Norbert Haug.

Unlike his esteemed boss, Scot David Coulthard avoided the dance floor but did spend time telling all about the promise of an encouraging season and a car that was "built strong enough to go wheel-to-wheel with Michael Schumacher." However, Coulthard was rarely in the frame to get close to Schumacher, let alone test his 'bullet-proof' suspension, and the team were left with such a deficit to catch up they will not use their new machine until the fourth race of the new season.

So a return to the Baja is out for this year, and the sponsors will have to make do with the coverage they get at the opening Grand Prix of the year in Australia in March. But it may just be worthwhile, and it will certainly save the team a penny or two.

But the surprise of the year for launches looks set to be the non manufacturer-backed Sauber team, who seem determined to display an air of affluence while all their rival privateer outfits are bailing hard to keep afloat. Not content with choosing to shun the offer of testing on Grand Prix weekends and instead choosing the expensive option of running with the big boys all year, Sauber have decided to put on a lavish display while every other team keeps things quiet.

The Red Bull-backed team will unveil their new car on February 9 in what they promise to be an "unforgettable show featuring a Formula One theme combined with world class figure skating." But the financially prudent team deserve a party after two seasons on impressive performances, so why not let them have it?

Peter Sauber may get a frosty reception next time he calls for financial help but as long as he doesn't slip up, the 'Art on Ice' spectacular could be a show-stopper of Cirque du Soleil standards. And it could just remind everyone just what the launch season is all about.