Minardi Close to Deal with British Investors

Australian team owner Paul Stoddart is on the verge of securing the future of his Minardi outfit with major funding from a British consortium of investors, he revealed on Thursday in Hungary.

Minardi came close to extinction after the European Grand Prix in June but obtained a budget to complete the year when Stoddart won a hard fight for substantial television funding due to the liquidated Prost Grand Prix team.

Stoddart does not yet have a budget in place for next year, but he has three real interested investors and believes a deal with one party could soon be completed.

"There is one investor that I am quite hopeful of that will see us with a proper racing budget," Stoddart said in the Minardi motorhome in the Hungaroring paddock. "This one is English, as English as the day is long, they have got the budget and we are close to doing the deal."

After claims from Irish car importer Brendan McGuinness that he and a Saudi-based consortium were in line for a take-over, Stoddart suggested that the English bid is more likely.

If the Saudi bid was successful, Stoddart would have to relinquish the helm and although he has said over the past six months that Formula One's politics have made him think twice about his involvement he is now keen to stay.

"My preferred option is one that doesn't involve selling a majority," said Stoddart. "I think now the problem has been solved I have got a renewed vigour for finishing off what I started."

Stoddart, who is virtually resigned to losing his latest prodigy, countryman Mark Webber, to Jaguar for next year, admitted the potential English investment may see a Briton lined up to take his place.

"I think we will (lose Webber)," he said. "It will probably be decided this weekend actually, but I think there is a fair chance that we will. I am not afraid of losing Mark because I need Mark to go on to do bigger and better things because he is very much a driver that I feel very personally involved with."

Anthony Davidson, who will make his debut for the team as a substitute for Malaysian Alex Yoong this weekend, will have to fight for any opportunity with Formula 3000 champion Justin Wilson.

Wilson was first choice for the drive this weekend but failed to fit his six foot three inch frame into the car, and Stoddart hinted that the team are keen to continue their 'youth policy' by running one of the two next year.

"There is always a seat at Minardi each year for a driver who has just talent but no budget and either of these two might fit into that category," said Stoddart.

"We will get a chance to see what Anthony can do in these next two races and we have already had a chance to see what Justin can do and we will guarantee that our car would fit him next year."