Formula 1
Stoddart hopeful over finances
Paul Stoddart is hopeful that the debate over television income from last year's championship will be resolved next week after a meeting with other team bosses yesterday. Stoddart believes that Minardi are rightfully owed revenue from the commercial ...
Published: Jun 15, 2002, 10:33 AM
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Paul Stoddart is hopeful that the debate over television income from last year's championship will be resolved next week after a meeting with other team bosses yesterday. Stoddart believes that Minardi are rightfully owed revenue from the commercial rights after finishing tenth in the 2001 championship but he met with opposition recently.
"Today's meeting was a lengthy one and many issues were discussed," Stoddart said of the gathering that took place in London on Thursday with Bernie Ecclestone and FIA president Max Mosley also present. "We hope that the issue of the television revenues will now be sorted out next week. Should that be the case then we will be happy to answer questions and confirm the KL Minardi Asiatech team's continued participation in the 2002 Formula One world championship at the Nurburgring next Thursday."
Stoddart was opposed over the finances by McLaren boss Ron Dennis and Arrows boss Tom Walkinshaw, both of whom thought the money should be divided between all the teams on the grid. Arrows are also rumoured to be in financial difficulty: despite Walkinshaw announcing recently that the team had secured two new sponsors, it was reported that title sponsor Orange are considering withdrawing.
When Orange signed the deal with Arrows in 1999 its only network was in Britain but now it's a global power owned by France Telecom. According to reports in the British press yesterday, a spokesman for Orange said the company are reconsidering F1 sponsorship with Arrows and hinted that Renault may be a more suitable partner.
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