Minardi Announce New Sponsorship Deal

The European Minardi team boosted their future prospects on Wednesday as they announced a new sponsorship deal with Malaysian company Magnum Corporation Berhad.

Magnum Corporation Berhad, who operate four-digit number betting in Malaysia, have signed with Minardi after the Italian team signed Malaysian driver Alex Yoong.

"We are pleased and proud to welcome Magnum Corporation Berhad as a significant commercial partner of European Minardi F1," said Minardi boss Paul Stoddart. "This is excellent news and comes as a result of the company's support of Alex Yoong's efforts to enter Formula One."

The undisclosed deal will bring much-needed funding to the Minardi team and will allow them to develop over the coming seasons. Minardi, who often run at the back of the field, had already said they will announce a new engine deal at this weekend's Belgian Grand Prix.

Yoong, meanwhile, will make his racing debut at the following race in Italy after testing for the team in recent months and earning the required superlicence.

Stoddart added: "From a personal standpoint, it is pleasing that a major corporation has understood the strong potential of our team and seen fit to invest at an early stage in a programme that we intend will take European Minardi F1 to a notably increased level of competitiveness within three years."