Sunday October 13th, 2002

Minardi's enigmatic engine suppliers Asiatech announced their Formula One farewell today.

The publicity-shy company entered the sport in 2000 by supplying engines free to Arrows after taking over Peugeot's Formula One staff and facilities following the French carmaker's decision to quit.

Minardi also had a free supply this year.

Backed principally by Japanese businessman Hideo Morita, Asiatech had talked of building a chassis of their own and linking up with a manufacturer.

But a statement issued at Suzuka said that "problems with its previously firmly guaranteed funding have prevented it from moving on to this second phase of the programme.

"It has been a tremendous source of satisfaction, as well as challenge, to compete in Formula One," the statement added. "Our relationship with the Minardi team has been excellent and we wish them all the best for next season."

Minardi's own future is uncertain after a season that has already seen Prost, Peugeot's former partners, go to the wall and Arrows seemingly destined to follow them.

Minardi boss Paul Stoddart, who has a Cosworth engine supply lined up but not yet announced, warned on Saturday that he might quit Formula One if four other teams pursued legal action to recover money paid to the team earlier in the year.

Published at 13:02:29 GMT