Minardi Slam Reports Surrounding Takeover Price

Minardi on Wednesday criticised reports surrounding Paul Stoddart's takeover of the Faenza-based team this week.

Some reports had suggested that Stoddart, who owns the European Aviation company, would pay anything from £35-50 million (pounds) for the ownership of Minardi, but the Italian team have dismissed such rumours and refused to release any details surrounding the financial implications of the deal.

In a joint-statement from Faenza, Stoddart and the former chairman and owner of Minardi, Gabriele Rumi, said: "Further to the stories circulating about the amount paid after the deal for the transfer of ownership, I intend to deny categorically any purported amount, because this is the fruit of mere fantasy.

"Suffice it is to say that the situation itself, one month before the start of the championship and without any contract deal for the engine, confirms the absurdity of all the rumours spread so far."

Minardi are yet to confirm an engine deal for next season after their suppliers last season, Fondmetal, withdrew.

The team are also yet to confirm a driver line-up.