Minardi wins battle for Prost TV cash
Anglo-Italian Formula 1 team KL Minardi Asiatech seems to have secured its immediate future, according to this week's AUTOSPORT. The UK magazine reports that FIA president Max Mosley has instructed F1 supremo Bernie Ecclestone to pay Paul Stoddart's team £8 million in TV revenue, made available through the collapse of the Prost Grand Prix company in January
After Stoddart had said his team would not survive the 2002 season without this money, Mosley gave the rival team principals - the majority of whom believed the money should have been distributed between them - until June 18 to explain why Minardi should not benefit. It seems Mosley did not receive a satisfactory response.
It has also emerged that the F1 commercial rights company, SLEC Holdings, gave Minardi a £3.5 million advance at the start of the season, according to the UK's Guardian newspaper. Minardi has since paid back the loan with the proceeds of its first quarterly TV revenue.
Last week, Minardi received a boost from team sponsor Magnum which promised to see through its sponsorship agreement, ending rumours it would pull out before the season ends.
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