Telefonica-minardi Deal Still Open.

Spanish telecoms giant Telefonica is keeping its options open over the purchase of Minardi, the team admitted at yesterday's launch.


According to Minardi chief executive, Gabriele Rumi, the company will remain as title sponsor until such time that it reaches a deal to take a larger stake. Telefonica already provides a large proportion of the team's budget and, this season, has had greater say over its driver line-up with the signing of Argentine Gaston Mazzacane to partner Marc Gene. A more lucrative agreement, admits team boss Giancarlo Minardi, would be one way of ensuring the future of the Italian minnow - albeit not necessarily in Italy.


"We will carry on negotiating because we have to marry Telefonica or someone else," he said at yesterday's Bilbao unveiling, "It may have to be a car maker, but that is the only way that we can guarantee a secure future for the team."


"For now, [Telefonica] are just a title sponsor," added Rumi, "They could still buy the team at some point but, if that happened, the team would move to Spain. That will not happen for at least a year, however."


The new Minardi MO2, painted in bright Telefonica yellow, is expected to test for the first time, in Spain, next week.