Stoddart Confirms TV Money Payment

Minardi team owner Paul Stoddart confirmed on Thursday that the first installment of a crucial $10 million (US) television money bonus is finally on its way to the team.

Minardi will be paid in four installments, the first of which is due to arrive by the end of this week, and Stoddart said that although he will only receive a quarter of the fee immediately, it will be enough to keep the team afloat.

"The first installment is on its way and the next one will come in three weeks time," said Stoddart. "The first one will not touch the sides, but we will get through okay."

Australian Stoddart has been strongly campaigning against other team bosses for the money since attempts by Phoenix Finance to resurrect the Prost Grand Prix team were thrown out by the FIA.

Rival team chief Tom Walkinshaw obtained five of his fellow team bosses' signatures on an anti-Minardi letter sent around the paddock at the Canadian Grand Prix. Meetings between that race and the European Grand Prix failed to find a solution, but the money was finally awarded to Minardi after another meeting at the Nurburgring last weekend.

Stoddart admitted "it took some doing" to obtain the money, but said that although it will help the team's survival the whole experience has soiled his views on Formula One.

"It has a little bit," he said cagily when asked if the money has eased his concerns over the state of Formula One politics. "This has done damage, and it doesn't repair it, but at least we now have the proper ending.

"It wasn't close (to going under), but it was close to me getting the shits and walking away. Now it is a case of getting on with things and sorting out next year. Hopefully we can get this all behind us and move on."

Stoddart is now keen to align his team with a manufacturer, but denied that the link between his Minardi Formula 3000 team and Italian racecar makers Coloni would be taken into Formula One.

He did, however, admit that there are "a few deals" being talked about but would not reveal which car manufacturers could be involved with the team in 2003.