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Old 06-20-2002, 23:12   #1 (permalink)
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Give us money or we quit - Minardi

Alan Henry at the Nürburgring
Friday June 21, 2002
The Guardian

Minardi may announce their withdrawal from formula one this weekend unless Paul Stoddart persuades rival team owners to release a £9m payment to enable his team to continue to the end of the season.

The teams will meet in the paddock here this afternoon after the first free-practice session for Sunday's European grand prix. For the Minardi drivers Mark Webber and Alex Yoong, this could be their final race of the year.

Stoddart believes Minardi should receive the benefits originally earmarked for the Prost team until they went bankrupt in January.

Teams finishing in the top 10 in the constructors' championship are awarded revenue from television income. Prost came 10th last season and Minardi 11th. But with Prost no longer in the picture Minardi are hoping to be awarded the money, although it is believed that some rival team principals, including McLaren's Ron Dennis and Arrows' Tom Walkinshaw, are not of the same opinion.

"If I come out of the meeting knowing we will be paid then I will be able to make the announcement I had hoped to make today, that Minardi will continue for the rest of the year," said Stoddart.

"But if I am shafted I will have a different opinion. I am not someone who cries wolf. The decision will have to be made one way or another.

"It will not be just on the monetary value but whether or not we have been shafted. And if we have been shafted then I want no part of this paddock."

Stoddart hopes that requests from the FIA president Max Mosley for the television income due to Prost to be released to Minardi will be persuasive.
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Old 06-20-2002, 23:22   #2 (permalink)
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I have heard that Minardi are going to get the money and that it will be paid in instalments.
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Old 06-20-2002, 23:31   #3 (permalink)
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if they dont continue with F1 then maybe stoddart should start a v8 supercar team. imo
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Old 06-20-2002, 23:50   #4 (permalink)
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Minardi paid commercial funds

http://www.dailyf1.com/en/

It is now widely acknowledged that Paul Stoddart has won his plight to secure the $12 million in commercial income.

Several reports Wednesday suggested that the majority of votes from F1 team bosses had ruled that Stoddart would get the money and that Bernie Ecclestone, F1 commercial chief, had been instructed by F1’s Governing Body the FIA to transfer the money to him this week.

However, the cash is not available as a lump sum as previously thought. It will be paid off in quarterly instalments and Stoddart will first have to repay a reputed $9 million loan back to Ecclestone that he agreed to before the season began.

It was also reported though that Stoddart is already in negotiations with the authorities to have a large percentage of the money paid in advance so the team has short-term stability.

Meanwhile, rumours about Asiatech becoming a key partner of Minardi resurfaced on Wednesday. The company, which supplies engines to the team on a customer basis, has made no secret of its intention to get involved in chassis development. It has previously been linked to a Minardi buy-out or team partnership but the claims have came about again as Stoddart now begins to plan Minardi’s medium to long-term future.

Stoddart told “Autosport”, the UK weekly that there had been no talks on that front but that he would be investigating it with Asiatech chiefs.

‘It is something we will be looking into but there have been no proper discussions yet,’ he said. ‘We have been aware from the start that Asiatech are looking at doing their own chassis technology and we knew that we would benefit from any advances they made in this field.

‘This is definitely something we would consider and we would do anything to improve our performance but whether that is with Asiatech or whether that is with another manufacturer remains to be seen.’
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Old 06-21-2002, 03:06   #5 (permalink)
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good to see that minardi is able to receive the money that they were after. I'm just wondering.....after the money is spent, how else will they generate revenue to keep themselves afloat? i know at 9 million pounds is a lot of money but i'm sure it can't sustain them forever.
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