Ecclestone to Help Minardi Out

Formula One commercial rights holder Bernie Ecclestone has dipped into his own pocket to fund the struggling Minardi team, it was revealed at the Canadian Grand Prix on Saturday.

Ecclestone to Help Minardi Out

Formula One commercial rights holder Bernie Ecclestone has dipped into his own pocket to fund the struggling Minardi team, it was revealed at the Canadian Grand Prix on Saturday.

Minardi boss Paul Stoddart had appealed for a hand-out Friday after finding out that the "fighting fund" he had been promised by his rival team bosses had collapsed.

But Ecclestone, who earlier today said Minardi should leave Formula One, said he will provide Minardi with an undisclosed amount.

Stoddart had expected to receive an $8 million (USD) aid from his rival teams after a proposal was made in January but they refused to provide it to him because they incurred extra costs after the Formula One rules changed this year.

Several of the sport's team principals met to discuss the matter in the Montreal paddock on Saturday afternoon and Stoddart's fellow cash-strapped rival Eddie Jordan confirmed the news.

"Bernie is going to help Minardi for now and he is doing it personally," said Jordan. "None of the teams have had to put their hand in their pockets. Bernie thinks it is right for the good of the sport to keep ten teams there and he is doing everything at no loss to any team and no reduction or withdrawal from any previous column A or B money that is entitled to the teams."

Ecclestone is also expected to hand Jordan some financial assistance, but neither man would confirm the exact value of the additional funds.

McLaren team boss Ron Dennis, who had instigated the 'fighting fund' in January, said he was happy the episode had drawn to a close. "I think the money is coming from the right place," Dennis said.

BAR-Honda David Richards praised Ecclestone for his decision to help Minardi stay in Formula One. "Bernie has resolved this problem himself," Richards said. "Long-term, that is a discussion that Paul has to make himself with Bernie but certainly Bernie himself has made it possible for Paul to continue and I compliment him on that.

"There was a lot of discussion and at the end of the day Bernie offered a solution that I think everybody is happy about and I think Paul will feel very pleased that it puts an end to all the wranglings that have been going on over the last few months.

"I think you will find that Eddie is also happy."

shares
comments
Don't count out Bridgestone, says Brawn

Previous article

Don't count out Bridgestone, says Brawn

Next article

Button bemoans lack of pace

Button bemoans lack of pace
Load comments
How Monza only added more questions to F1's sprint race conundrum Plus

How Monza only added more questions to F1's sprint race conundrum

With two sprint races under its belt, Formula 1 must now consider its options for them going forward. While they've helped deliver exciting racing on Sundays, the sprints themselves have been somewhat lacking - creating yet another conundrum for F1 to solve...

Who should Alfa Romeo sign for 2022's F1 season? Plus

Who should Alfa Romeo sign for 2022's F1 season?

OPINION: With Valtteri Bottas already signed up for 2022, all eyes are on the race for the second seat at Alfa Romeo next year. Antonio Giovinazzi is the current incumbent, but faces a tough competition from appealing short and long-term prospects

Formula 1
Sep 15, 2021
The "forced break" that was key to Ricciardo's Monza excellence Plus

The "forced break" that was key to Ricciardo's Monza excellence

OPINION: Daniel Ricciardo has long been considered one of Formula 1’s elite drivers. But his struggles at McLaren since switching from Renault for 2021 have been painful to watch at times. Yet he’s recovered to banish those memories with a famous Monza win – built on a critically important foundation

Formula 1
Sep 14, 2021
How Verstappen is ruining his F1 title battle with Hamilton Plus

How Verstappen is ruining his F1 title battle with Hamilton

OPINION: The Italian GP clash between Lewis Hamilton and Max Verstappen followed a running theme in the 2021 Formula 1 title fight. Their close-quarters battles have often resulted in contact - and although Hamilton has shown a willingness to back off, Verstappen must learn to temper his aggression

Formula 1
Sep 14, 2021
Italian Grand Prix Driver Ratings Plus

Italian Grand Prix Driver Ratings

Two drivers produced maximum-score performances as, for the second year in a row, Monza threw up an unpredictable result that left several others ruing what might have been

Formula 1
Sep 13, 2021
Why Ricciardo was set for Monza F1 triumph even without Verstappen/Hamilton crash Plus

Why Ricciardo was set for Monza F1 triumph even without Verstappen/Hamilton crash

The clash between Max Verstappen and Lewis Hamilton was the major flashpoint the 2021 Italian Grand Prix will be remembered for. Yet by this point, race leader Daniel Ricciardo had already done the hard work that would put him in position to end his and McLaren's lengthy win droughts, on a memorable afternoon in Monza

Formula 1
Sep 13, 2021
Why Italian GP success is on for McLaren even if Verstappen dominates Plus

Why Italian GP success is on for McLaren even if Verstappen dominates

For the second time in 2021, McLaren will line up for the start of a grand prix from the first row. It knows it has the chance of “glory” if things go well for Daniel Ricciardo and Lando Norris at the start of the 2021 Italian Grand Prix, but even if they just maintain their grid positions, signs from the rest of the Monza weekend suggest success is very possible for Formula 1’s other orange army

Formula 1
Sep 12, 2021
The F1 media favourite who lifted a broken Lotus Plus

The F1 media favourite who lifted a broken Lotus

Graham Hill was nearly 30 when he made his Formula 1 debut. NIGEL ROEBUCK examines the life of a gifted racer whose talismanic personality defined an era

Formula 1
Sep 11, 2021