The Campos Meta Formula One team has been granted a further deadline extension to clear their debts to the Italian constructor Dallara over payments for their 2010 chassis design, as the team continues to work on shoring up new investment.
The Spanish team, which has been plagued by financial troubles throughout the pre-season, and has hinted that they may play no part in pre-season testing at all, allegedly owes Dallara some 4 million Euros for their chassis design.
The team, which has admitted to a sizeable hole in their 2010 budget, now has until next Wednesday to pay off the amount.
Rumours in Spain persist that should the deadline be missed, the rights for the chassis would pass to the Serbian team Stefan GP, which is gearing up for the Bahrain GP despite still not having a slot on the 2010 entry list.
Campos have denied that the sale of the intellectual rights to the Dallara design to another party is an option, and that the deal between Stefan GP and Dallara is over technical support for the Serbian squad's new car, based on Toyota's proposed 2010 design.
Speaking about the ongoing situation, Spanish motorsport boss Carlos Gracia was quoted as saying: "Dallara are great professionals who know the story of Adrian and the difficulties of a project like this, so I am sure they will do everything to find a solution that satisfies both parties."
Gracia added that the investment deal in the Spanish squad from A1GP boss Tony Teixeira was set to be confirmed soon. Some reports have suggested that the deal, which should shore up Campos's 2010 budget, could be announced on Monday.
The team remains without a second driver for 2010, with only Bruno Senna confirmed in one of their seats, which no announcement has yet been made as to when their 2010 car will be launched, or when the team will begin testing, though Teixeira stated earlier this month that the second Jerez test (starting on February 17th) remained the target.
The Spanish El Pais newspaper has also reported that the newest Concorde Agreement could offer some salvation for Campos, suggesting that there is a clause in the agreement which allows a team to miss up to three grands prix in a season before their entry is revoked by the FIA.
| < Prev | Next > |
|---|
