NUERBURGRING (Germany): Minardi are taking legal action against three Malaysian companies over more than US$1.5 million of sponsorship allegedly owed to the struggling Formula One team and driver Alex Yoong.
Owner Paul Stoddart said that Yoong, who lost his drive with Minardi after a disappointing 2002 season, was owed money under a deal for him to be paid a percentage of the sponsorship he brought in.
“Alex is owed money under his driver's contract from last year, we're owed a rather larger amount of money under a sponsorship from last year,” the Australian said at the European Grand Prix yesterday.
“His driver's contract was directly linked to sponsorship and I've actually told his father that if he can help us collect the sponsorship, I'll go 50-50 on what we get.
“What he's asked us to do is to assign some of the rights for the collections to him and we're looking at it now. We may well do that.”
Stoddart, whose team is now part-owned by F1 supremo Bernie Ecclestone, said Minardi's 2002 title sponsor Kuala Lumpur was not involved in the litigation.
“I'm chasing the sponsors. We're suing them. I've got a judgment against one going through court and two others,” he said. “We're not talking about a small amount of money. Well over a million, closer to two.”
Stoddart denied that Yoong, the only Malaysian to drive in F1 and now trying to secure a place in the U.S. CART series, had threatened to sue him for wages owing.
“He could sue me and I could defend and counter-sue but that's not what's happening,” he said.
“We're trying to get the Malaysian sponsors to pay and then Alex will get paid. It's as simple as that.”
Legal action is commonplace in F1. The Jordan team and Ferrari sponsors Vodafone are currently involved in the London High Court over an alleged sponsorship agreement. – Reuters
Owner Paul Stoddart said that Yoong, who lost his drive with Minardi after a disappointing 2002 season, was owed money under a deal for him to be paid a percentage of the sponsorship he brought in.
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