While its current form would suggest that it will continue to play third fiddle behind Renault and Ferrari in Monaco this weekend, McLaren looks set to sparkle in other ways after rekindling its relationship with diamond giant Steinmetz.

After last year's sparkling helmets worn by Kimi Raikkonen - who won the event with an equally shining performance - and team-mate Juan Montoya, the team unveiled the latest collaboration in the build-up to the 2006 grand prix, taking the wraps off a diamond-encrusted steering wheel. The Mercedes-Benz three-pointed star on both Raikkonen and Montoya's steering wheels have been emblazoned with round white diamonds, expertly cut by Steinmetz, continuing the company's association with the Monaco race which began with the former Jaguar Racing team.

"We are extremely proud to have worked with Team McLaren Mercedes on such a truly bespoke and unique creation," commented Steinmetz CEO Nir Livnat, "Not only is it personal to the driver and fundamental in the racing of the car, but it also shows the expert level of patience, craftsmanship and engineering that is necessary for cutting and polishing diamonds. We hope that the steering wheels help the drivers steer their way to another victory this year."

The unveiling was capped by Raikkonen 'fitting' his steering wheel to an exact replica of this year's McLaren car made, appropriately, from two tonnes of ice - into which the team's own 'Iceman' climbed.

Last year's diamond helmets were sold at auction, raising $400,000 for four charities nominated by Raikkonen, Montoya and team boss Ron Dennis.