Minardi Made to Wait for TV Money (Updated)

Minardi's Formula One fate could be decided on Friday at what threatens to be a heated meeting of team owners.

Team boss Paul Stoddart told reporters at the Nurburgring that Minardi, who need cash to see out the season, had yet to receive a payout approved by the sport's governing body. He said a decision had to be made this weekend at the European Grand Prix, with the future of the smallest team on the grid far from guaranteed.

"The facts are simple," Stoddart said on Thursday. "Not a penny has been forthcoming and there's yet another meeting at four o'clock tomorrow. We're being played with. I don't think there's any other words for it. We seem to be pawns in a rather big game of politics, which I don't feel very happy about at all.

"We need to be paid. If I can come out of that meeting tomorrow with the money paid, then I'll make an announcement that I had planned to make tonight that Minardi will continue for the rest of the year. If I'm shafted tomorrow, then I will certainly have a different opinion," he warned.

Crying Wolf

"I am not someone who cries wolf. This is the weekend to make a decision and it will be made this weekend, one way or the other. If we've been shafted, then I want no part of this paddock. That's pretty strong words but it's how I feel."

Minardi want revenues, estimated at some $12 million, which were originally earmarked for the failed French Prost team that was declared bankrupt in January.

Stoddart confirmed that Max Mosley, president of the International Automobile Federation (FIA), had instructed Formula One supremo Bernie Ecclestone to pay Minardi but opposition from other teams was blocking the funds.

"There are a couple of team owners, in particular (Arrows boss Tom) Walkinshaw and (McLaren's) Ron Dennis, who are incredibly upset and seem to think that they have some legal claim to this money," said the Australian. "They just don't want to accept reality.

"I stress it isn't just Tom and Ron there are the other British teams excluding Jaguar and Renault who seem to have signed what I call the Canadian Walkinshaw agreement which didn't test the light of day and the five signatures on that seem to be somewhat aggrieved to us getting the money.

"The trouble and the problems some team owners have caused here ought not to get lost because that is the issue we are talking about. This never needed to be a public affair, it never needed to happen in the first instance."

Stoddart suggested Ecclestone was wary of being taken to arbitration by the teams if he paid Minardi.

Amicable Solution

"I suspect the reason we haven't had it (the money) is because...he's hoping to have an amicable solution."

The Minardi boss confirmed that Ecclestone had lent Minardi money, a sum put by Formula One sources at $5.0 million, at the start of the season. But he said that was unrelated to the cash due under the secret Concorde agreement between teams.

"He (Ecclestone) lent us money under a separate agreement at the start of the year, like he's done to many teams and still is doing to many teams," said Stoddart. "You cannot confuse the two.

"What he lent, and there is proper security and a repayment programme against that, has absolutely sod all to do with the Concorde money. The agreement with Bernie at the start of the year was completely separate."

On a more positive note, the team announced on Thursday a new sponsorship involving global hedge fund managers Quadriga Group. No figure was put on the deal.