Exclusive: 'Fighting Fund' Close to Collapse

Plans to introduce a new Formula One "fighting fund" in a bid to assure the survival of the two struggling independent teams Jordan and Minardi are close to collapse, according to sources.

The suggestion, which was proposed by McLaren-Mercedes boss Ron Dennis at the Heathrow meeting between the teams and FIA boss Max Mosley last month, is understood to have been just a provisional plan rather than a firm commitment.

And after several weeks of discussions only Sauber and Jaguar have agreed to provide the funding, which is specifically for Jordan and Minardi, while all the other teams are squabbling over the move.

"We haven't had anything," Minardi boss Paul Stoddart told Atlas F1. "We have not been officially told that it is not going to happen so we still have to hope - but so far we have received nothing."

But an insider revealed there is next to no hope that the £20 million handout will materialise and complained: "What they didn't tell us was that the fighting fund meant they were fighting with themselves over whether to do it."

Instead, Bernie Ecclestone plans to introduce a 'television tax' to take from the leading five teams, who attain the most television coverage, and hand out to the bottom five.

It is understood that the Concorde Agreement, which governs Formula One's commercial rights, contains a "best endeavours" legal clause which will enable Ecclestone to change the spread of revenue without the teams' consent.

Stoddart, who had not heard about the proposal, praised Ecclestone for his efforts to secure the future of the smaller teams and added: "It is a fantastic idea, it is feasible to introduce and it would probably achieve the desired effect."