Minardi Chairman Leaves F1; Sells Stake to PSN

Tuesday September 26th, 2000

Minardi Chairman Leaves F1; Sells Stake to PSN

Tuesday September 26th, 2000

Minardi chairman Gabriele Rumi said on Tuesday he had sold his 70 percent stake in the Italian Formula One team to the Pan American Sports Network International (PSN) cable and satellite company.

Rumi, who has been involved in Minardi management since 1996, said he had enjoyed his spell in grand prix racing but he wanted to put the entire period behind him.

"The United States Grand Prix was my final race, from now on I don't want anything to do with Formula One," he said. "I even hope I'll never watch it again on TV because it will be too distressing for me.

"This is a really sad moment but it's a matter of giving a future to the team and a powerful partner is required. I have done everything for Minardi, but Formula One now requires massive investments that only major industrial groups can provide."

The Faenza-based team, which has succeeded in securing Supertec engines for 2001, will remain in Italy and under the control of Gian Carlo Minardi.

Minardi made their Formula One debut in 1985 but have never won a race. They have not won a world championship point this season.

PSN, based in New York and Miami, owns most of the television rights for Formula One in central and Latin America. It is also a shareholder in Minardi's Spanish sponsor Telefonica, which has also backed the team in a minor capacity this year.

Two Minardi mechanics hit by their own drivers during pit stops at Indianapolis on Sunday were not seriously injured, the team said on Tuesday.

Refueller Sandro Parrini and front-wheel man Riccardo Pozzati were struck drivers Gaston Mazzacane and Marc Gene in separate incidents.

Ater a check-up at the circuit's medical centre both were diagnosed with badly bruised ankles.

shares
comments
DC and Rubens must play fair, says Todt

Previous article

DC and Rubens must play fair, says Todt

Next article

TV network buys stake in Minardi

TV network buys stake in Minardi
Load comments
How F1’s other champion to emerge from 1991 thrived at Lotus Plus

How F1’s other champion to emerge from 1991 thrived at Lotus

Mika Hakkinen became Michael Schumacher’s biggest rival in Formula 1 in the late-90s and early 2000s, having also made his F1 debut in 1991. But as MARK GALLAGHER recalls, while Schumacher wowed the world with a car that was eminently capable, Hakkinen was fighting to make his mark with a famous team in terminal decline

The forgotten F1 comeback that began Jordan’s odyssey  Plus

The forgotten F1 comeback that began Jordan’s odyssey 

Before Michael Schumacher – or anyone else – had driven the 191 (or 911 as it was initially called), Eddie Jordan turned to a fellow Irishman to test his new Formula 1 car. JOHN WATSON, a grand prix winner for Penske and McLaren, recalls his role in the birth of a legend…

Formula 1
Sep 20, 2021
The squandered potential of a 70s F1 underdog Plus

The squandered potential of a 70s F1 underdog

A podium finisher in its first outing but then never again, the BRM P201 was a classic case of an opportunity squandered by disorganisation and complacency, says STUART CODLING

Formula 1
Sep 18, 2021
The other notable Monza escape that F1 should learn from Plus

The other notable Monza escape that F1 should learn from

OPINION: The headlines were dominated by the Italian Grand Prix crash between Max Verstappen and Lewis Hamilton, who had the halo to thank for avoiding potentially serious injury. But two days earlier, Formula 1 had a lucky escape with a Monza pitlane incident that could also have had grave consequences

Formula 1
Sep 17, 2021
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...

Formula 1
Sep 16, 2021
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