Stoddart Fears for the Future of Formula One

European Minardi team boss Paul Stoddart has reiterated his fears about the financial future of the sport and added that the bigger teams could be dragged into the mire.

Stoddart, whose team struggled at the back of the grid last season, fears that the increasing budgets required to run a team could force some smaller outfits to fold. But as the French Prost team fight against going bust, Stoddart believes that the bigger teams, with the bigger budgets, like McLaren, Ferrari and Williams, could be embroiled in the problem too.

"I think Formula One is a business first and a sport second," said Stoddart. "Unfortunately, to go racing you have to look at the budget side and I think teams will be squeezed out. But I am not the only one with that fear.

"We have to remember that there can't be 24 winners and I'm worried that one day some of the top teams will find themselves at the back of the grid. I'm hoping sanity will prevail."

Australian Stoddart, a millionaire from his aviation business, is confident his Anglo-Italian team will survive and progress this season as they look to secure their first points under his leadership.

"We've got two goals for 2002 - one is to finish top ten of the manufacturers' championship and the other is to score one or two points this season," he added. "I can see one or two teams that we want to be ahead of and with our new Asiatech engine, we will have the extra power we need to do that.

"Last year was a tough year and we are looking for better things this year. Last year we had one tenth of the budget that Ferrari had and I think on value for money we probably won the Championship."