Stoddart Talking to Three Investors Over 2003 Funding

Minardi boss Paul Stoddart revealed in the Hockenheim paddock on Saturday that he is in discussions with three different potential new investors after admitting he has not secured a budget to run the team in 2003.

The Australian team owner said that his thoughts for next year are "limited", a position further enhanced by Malaysian driver Alex Yoong's failure to qualify for the German Grand Prix on Saturday.

It is the third time Yoong has failed to qualify this season, after disappointments at Silverstone and San Marino, and renewal of Minardi's sponsorship deal with the Malaysian government is still to be discussed.

But Stoddart, whose continuation in Formula One this season was secured when he won his fight for the defunct Prost team's television revenue, confirmed he is in talks with a group of possible investors from Saudi Arabia.

"We are talking to the Saudis and we are talking to two other groups of people," he said. "We have not got a budget for next year yet and if the right offer comes along then I welcome the investment."

When asked how solid his finance plan is for 2003, Stoddart added: "It's not, but we are not the only team that doesn't have a budget in place for next year at this moment in time.

"Then again any other year you wouldn't worry about that because it's normal. The time you do your deals, unless they're roll-over deals, is between August and October."

Stoddart has struggled to raise a budget this season after buying the perennial back-of-the-grid team at the start of last year, and he will need to raise around $50 million to compete next year.

He insisted that the next two months are crucial to the team's survival, and added: "We are looking at getting some solid investment so that we never have to go through this again."