Martin (frentzen) wrote in formula1,

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Jordan & Minardi given more money

Jordan and Minardi have been given a lifeline from Formula One supremo Bernie Ecclestone to ensure they are still on the grid at the end of the 2003 season. Ecclestone, along with the other eight teams, has agreed to give the two struggling outfits a larger slice of the television money to the tune of twenty million pounds, ensuring that they don't go down the same path as Arrows and Prost.Jordan GP

It is a well known fact that both teams were struggling to make it to the grid this year with Jordan losing their title sponsor late last season and no one as yet to fill the void. Minardi are also still to announce a title sponsor for 2003, but the new lifeline will put them both in a better bargaining position and guaranteeing the series of 20 cars for every event on the 16 race schedule.

Without this, we would have needed Houdini at his greatest, pulling lots of rabbits out of hats, Eddie Jordan told the Times. This means we can go to sponsors and tell them we are definitely in business. I can now say hand on heart that we are in a position to fight in the championships again.

With surplus money that would have been allocated to Arrows, had they remained, and a new way of dispersing the TV revenue, Jordan and Minardi and of course the fans, can now breathe a great sigh of relief.
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