Stoddart: 'There's still hope for Minardi'

"It was a long meeting and the issue was discussed at length," Stoddart told Reuters. "Hopefully there will be a favourable solution in the next few days and we will be at liberty at the Nurburgring to say more about Minardi's future when we know the outcome."

During the meeting the team owners and Bernie Ecclestone discussed the issue of Prost's travel expenses, which Stoddart believes his team is entitled to following the collapse of the French outfit. These are thought to be worth around £8 million, although some team bosses refute Stoddart's claims.

The team bosses are thought to be spilt 50/50 on the issue, but Stoddart is hopeful that the eventual outcome will be in his favour.

"I still hope that we will be able to confirm our participation for the rest of the year," he added.

Other issues under discussion were the proposed creation of an engine manufacturers' championship, the right to sell customer chassis to other teams and a further limit on testing to cut costs.