Minardi Thrown a Lifeline but Not Safe Yet

The financially struggling Minardi team have been thrown a lifeline by Formula One's ruling body but their future is not yet assured, sources said on Tuesday.

International Automobile Federation (FIA) sources told Reuters that Bernie Ecclestone's Formula One Management (FOM) had been instructed by the governing body to pay disputed television revenues to the team.

Ecclestone and Minardi were not immediately available for comment.

Minardi, saved from collapse last year by Australian aviation entrepreneur Paul Stoddart, had sought some $12 million - originally earmarked for the now-defunct Prost team - in order to complete the season.

Prost were declared bankrupt in January after finishing the 2001 season in ninth place.

Stoddart has raised the prospect of Minardi being forced out as well, saying that the team did not have enough money to complete the year without the television cash.

He has been fighting to get his hands on it since the start of the Championship in Australia, with some rival team principals saying the perennial grid tail-enders were not entitled to the money.

Team bosses met in London last Thursday and Formula One sources said afterwards that FIA president Max Mosley had set a Monday deadline for them to present legal reasons to justify Minardi not being paid.

While Tuesday's move appeared to end immediate argument about Minardi's entitlement, Formula One sources said there were further complications that could hold up any swift payout.

"It was a crunch day yesterday but there are still some hurdles to jump over," said one source.

The source said the television money, divided up among the 11 teams, was paid in quarterly instalments and Ecclestone had already lent Stoddart some $5 million at the start of the year.

That had to be repaid first out of any money now coming available. The same sum was roughly equal to the instalments for the first half of the year and the team were not therefore entitled to any payout until the next quarter.

The sources suggested it was now up to Stoddart and Ecclestone to negotiate a deal for the team boss to receive an advance on the remaining instalments if that was required to keep Minardi in business.

While some Formula One bosses appear unmoved by the prospect of Minardi leaving the sport, the team have acquired a loyal fan base since their debut in 1985 and scored an emotional and lucky two points in Australia in March.

Formula One is already one under the maximum 12 teams permitted, with Toyota entering this year as Prost left. Minardi are one of only a handful of privately-owned outfits competing against the wealthy manufacturers.

Stoddart said last week that he hoped to confirm his team's continued involvement in the Championship at the next race at the Nurburgring in Germany this weekend.