www.f1competition.com
This is a site I saw mentioned on another forum today, its a free F1 management game.
Haven't tried it myself(yet) but you are welcome to join it and have a go and feedback to us.
Unfortunately I think it is only 1 player unlike batracer but looks like it has better depth to it and more involvement.
It looks like you can set up a "subleague" which means that we can run a private game. Maybe we should look into setting one up for the board if enough people are interested.