Arbitration not about Minardi, says Dennis

When the money was paid, in June, Stoddart indemnified Bernie Ecclestone's FOM against the possibility of losing any future arbitration and now says that the action will close his team.

Dennis, however, claimed that the issues involved are wider ranging and said: "I have executive duties to my company and they are to the shareholders and partial owners. This action is against FOM and it is the only mechanism by which to resolve the dispute.

"It is not McLaren against FOM, it is several teams against FOM. We have chosen to arbitrate as one entity using one solicitor and that is not McLaren's solicitor. I want to emphasise, I am supporting this but I am not leading it.

"The issue is not just about Minardi, it also involves Arrows and over the next few years if you accumulate the monies involved, it's something like $15 million. We have no desire to penalise Minardi and we, I can't speak for everyone, have no desire to take the money. It is the principle of the matter relating to the Concorde Agreement that we want resolved. And it's not just money at stake either, but constitutional votes, which are important."