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Minardi run on big loan
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Minardi, the cash-strapped formula one team, were thrown a lifeline at the start of the season in the shape of a £3.5m advance from Bernie Ecclestone, it emerged yesterday.
Ecclestone's SLEC organisation, which manages commercial rights, has been paid back the loan from the first instalment of Minardi's television income but, even with another £5.5m due this season, it will be a struggle for Minardi to survive the remaining 10 races on the calendar. This payment is part of the Minardi team principal Paul Stoddart's claim to the television income which was originally due to the collapsed Prost team.
Last week the other nine teams wanted to split the money, insisting Minardi go to arbitration to resolve the issue.
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