Minardi Chasing F1 Cash to Survive

Minardi boss Paul Stoddart has reiterated his concerns that his team may go out of business before the end of the year.

The Australian team boss, who bought Minardi at the start of last year, is struggling with cash flow problems after hold-ups in confirmation that he will receive crucial television money.

Stoddart, who is defiant that he will not run the team in debt, needs the cash as a "fairly short term solution" to the Anglo-Italian team's survival.

"Basically we don't have the money to compete this year," he told Autosport. "This (television money) is our second half of year money and we are almost at the second half of the year."

Stoddart has failed to get the unanimous support from the other 10 teams on the Grand Prix grid that is needed to guarantee the money.

He is now expected to have to take the matter to arbitration in Switzerland, and it is thought that victory there is the only way his team will be able to continue through the second half of the season.

Stoddart insists that all his sponsors have currently paid up, but there are no deals confirmed for next season.

The estimated £8 million (Pounds) television money was originally in Stoddart's budget plan for 2002, and he will not supply any more personal funding to cover the problem.

Minardi finished 11th last year, but Prost Grand Prix, who finished 10th in 2001, collapsed at the start of this year.

However, Stoddart has denied he is claiming the Prost money because he is now the 10th placed team this year, and is believed to be claiming a countback for finishing tenth in two of the last three years.