Formula One news

Stoddart hands over the keys

Paul Stoddart completed the sale of Minardi to Red Bull at the team's Faenza factory on Monday. The move brings to an end Stoddart's five-year foray in Formula One and will see the Minardi name disappear from the sport after 21 years.

"It's all done, they own it - they didn't mess around," Stoddart told Reuters. "It's a very sad day and I really wish there was another solution."

"Regrettably the Minardi name will now disappear from the sport but I firmly believe the competitive spirit that has burned brightly within this team for the past 21 years will live on under its new owners," he added.

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