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Paul Stoddart

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Paul Stoddart
Stoddart at the 2006 Australian Grand Prix
Born (1955-05-26) 26 May 1955 (age 69)
Coburg, Victoria, Australia
Occupation(s)Businessman and former Formula One Team owner
Known forMinardi
European Aviation
OzJet

Paul Gerard Stoddart[1] (born 26 May 1955) is an Australian businessman, airline owner and former Minardi Formula One team boss.

Personal life

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Born in Coburg, a suburb of Melbourne, Victoria, Australia, and attended Preston Technical School and St Joseph's College Melbourne. Stoddart's first business was a car dealership.[2] He was later based in England and was the Yugo car distributor for the UK and also had a hire car detailing business in Manchester detailing the ex-hire cars before sale to the public.[3]

Aviation

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European Aviation Boeing 737-229

European Aviation

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In late 1989, Stoddart purchased two BAC 1-11 aircraft and three Falcon 20 business jets (and a large assortment of spare parts for both aircraft) from the Royal Australian Air Force's 'VIP Squad' (the Canberra-based No 34 SQN). Stoddart formed European Aviation, hired Trevor Whetter from British Aerospace as his Managing Director and sold the BAC 1-11 aircraft to Okada Air in Nigeria. Following discussions with British Airways, Stoddart purchased 16 aircraft, and following Dan Air's absorption into British Airways, the airline was formed in 1994.[4]

Stoddart and European Aviation made the news in the UK during the coronavirus pandemic in 2020. Airbus A340 aircraft, acquired from Etihad Airways and owned by Stoddart's business were used to transport PPE from China and Malaysia back to the UK.[5][6][7][8]

OzJet

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In 2005, Stoddart formed OzJet an Australian based, all business class airline. He wanted to challenge Qantas who at the time were the only domestic carrier with this luxury option. The airline flew with three Boeing 737 aircraft that had 60 seats. It was not a commercial success, and in March 2006 Stoddart cancelled its commercial service and turned it into a charter airline. In 2009, OzJet was sold to Strategic Airlines.[9][10]

Formula One & ChampCar

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Tyrrell

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Stoddart with future Minardi investor and Formula One chief, Bernie Ecclestone

In 1996, Stoddart purchased a 1990 Tyrrell 019 Formula One car. During this time, he connected with Rupert Mainwaring the team manager at Tyrrell. In 1997, Stoddart sponsored the team with his company, European Aviation, appearing on the front wing of the car and in 1998 the rear. Stoddart's relationship with owner Ken Tyrrell grew, and the two were discussing building a wind tunnel at Stoddart's base at Bournemouth Airport.[11] Tyrrell was lining up the sale of the team to Stoddart and in 1997, a deal of $25 million was almost agreed upon.[12] However, British American Tobacco ultimately would purchase Tyrrell and enter the 1999 season as British American Racing.[13] Stoddart purchased a volume of Tyrrell cars and equipment and moved them to his base in Ledbury, Herefordshire.[14]

Jordan & Arrows

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In 1999, European Aviation sponsored the Jordan Grand Prix team. There was speculation he would purchase a minority shareholding in the team from owner Eddie Jordan.[15]

European Aviation moved on to sponsor Arrows in 2000 and his European Racing became the Arrows Junior Team, with driver Mark Webber.[16]

Minardi

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In 2001, Stoddart purchased Minardi when Gabriele Rumi sold the team to him prior to the 2001 Formula One Season.[17][18] From purchase to the first race the team completed the PS01 in six weeks. The car was emblazoned with European Aviation sponsorship and used an uprated version of the 2000 Minardi Fondmetal V10.[19][20] Whilst perennial backmarkers, during 2001 future world champion Fernando Alonso drove for the team and was rated highly.[21] In 2002, Stoddart hired Australian Mark Webber who scored points on his debut at the 2002 Australian Grand Prix.[22]

Minardi PS01 - Stoddart's first car as team owner

Finances were always a challenge for the team, as was sponsorship. In 2003, Formula One owner Bernie Ecclestone invested $4 million into the struggling team.[23] Wilux became a lead sponsor in 2004, however terminated their agreement after they were not told the team would run without logos at the 2004 British Grand Prix.[24][25][26] Stoddart had elected to run blank cars due to the death of Minardi sporting director John Walton.[27] In 2005, the team was sponsored by another Stoddart firm—OzJet.[28] One of the team's greatest successes under Stoddart's ownership would come at the 2005 United States Grand Prix where just six cars competed—Minardi scoring 7 points with both cars finishing.[29][30]

Throughout his ownership, Stoddart regularly campaigned for budget caps and greater consideration of financial incentives to smaller teams like his own. This included a public battle with McLaren boss Ron Dennis.[31][32][33] When Eddie Jordan sold Jordan Grand Prix to Alex Shnaider in 2005, Stoddart expressed concerns for his team's future.[34][35] On 12 September 2005, Stoddart announced that he had sold the team to Red Bull Racing owner Dietrich Mateschitz who subsequently rebranded the team as Toro Rosso.

In March 2006, less than a year after selling his team to Red Bull, Stoddart announced his intentions to return the Minardi name to Formula One after lodging an entry with the FIA for the 2008 championship season.[36] However, rival entry Prodrive were awarded the 12th and final place on the grid (which they ultimately did not use).[37]

F1 Experience

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With the new F1 management wanting to expand the F1 experience for fans, starting from the 2017 Spanish Grand Prix Stoddart is offering fans the ability to ride in one of his Minardi Fx2 cars.[38]

Minardi Team USA

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In December 2006 Stoddart purchased the CTE-HVM ChampCar team which he renamed Minardi Team USA.[39] The team was successful, with Robert Doornbos finishing third overall and taking the Rookie of the Year honours.[40] However, a month before the 2008 season, ChampCar was absorbed by the rival Indy Racing League. Although enthusiastic about the future of the series, Stoddart opted not to enter it, fearing that he and the other ex-ChampCar teams would be unable to be competitive.[41] However, the half of the team owned by Keith Wiggins continued on as HVM Racing in the IRL.

References

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  1. ^ "Paul Gerard STODDART". Companies House. Retrieved 21 June 2023.
  2. ^ "Formula won". Financial Review. 26 February 2004. Retrieved 19 May 2022.
  3. ^ "The Coburg boy who found the formula for winning". The Age. 10 March 2002. Retrieved 19 May 2022.
  4. ^ ""THERE WASN'T MUCH WE WOULDN'T DO"". Key Aero. 13 September 2017. Retrieved 19 May 2022.
  5. ^ "Coronavirus: 'NHS' passenger plane brings PPE from China". BBC. 28 April 2020. Retrieved 19 May 2022.
  6. ^ "European Aviation responds to pandemic with plans for A340 cargo fleet". Flight Global. 30 June 2020. Retrieved 19 May 2022.
  7. ^ "European Aviation Acquire 10 A340 Aircraft". EuroAv. 29 January 2018. Retrieved 19 May 2022.
  8. ^ "European delivers PPE for NHS". EuroAv. 28 April 2020. Retrieved 19 May 2022.
  9. ^ "The OzJet story: Australia's short-lived 'all business class' airline". Executive Traveller. 9 October 2009. Retrieved 19 May 2022.
  10. ^ "Wizard of OzJet". The Age. 26 March 2005. Retrieved 19 May 2022.
  11. ^ "Tyrrell's windtunnel is scrapped". Grandprix.com. 15 December 1997. Retrieved 19 May 2022.
  12. ^ "Paul Stoddart Attempts To Enter The F1 Before Minardi". Unraced F1. 31 July 2017. Retrieved 19 May 2022.
  13. ^ "BAT poised to buy Tyrrell F1 team in 300m deal". Marketing Week. 13 December 1997. Retrieved 19 May 2022.
  14. ^ "Stoddart ready for take-off". The Guardian. Retrieved 19 May 2022.
  15. ^ "Exclusive: Paul Stoddart talks to pitpass - Part One". Pit Pass. 6 July 2003. Retrieved 19 May 2022.
  16. ^ "European Confirmed As Arrows Juniors". Crash.net. 9 December 1999. Retrieved 19 May 2022.
  17. ^ "Stoddart Poised to Buy Minardi". Autosport. 24 January 2001. Retrieved 19 May 2022.
  18. ^ "Stoddart buys Minardi". Grandprix.com. 30 January 2001. Retrieved 19 May 2022.
  19. ^ "Minardi's miraculous F1 rebirth: 'Even Fernando Alonso was building the car!'". Motorsport. 5 March 2021. Retrieved 19 May 2022.
  20. ^ "Stoddart starts his race against time". Drive. 2 October 2016. Retrieved 19 May 2022.
  21. ^ "Alonso returns…20 years after building a Minardi". Planet F1. 16 March 2021. Retrieved 19 May 2022.
  22. ^ "Interview with Paul Stoddart". Motorsport. 12 December 2002. Retrieved 19 May 2022.
  23. ^ "Ecclestone Buys Minardi Stake". Autosport. 14 June 2003. Retrieved 19 May 2022.
  24. ^ "Minardi confirms title sponsor - Wilux". Crash.net. 3 March 2004. Retrieved 19 May 2022.
  25. ^ "Minardi loses title sponsor Wilux". F1 Technical. 28 July 2004. Retrieved 19 May 2022.
  26. ^ "Minardi and Wilux". Grandprix.com. 29 July 2004. Retrieved 19 May 2022.
  27. ^ "Minardi pay tribute to 'John Boy'". Crash.net. 11 July 2004. Retrieved 19 May 2022.
  28. ^ "OZJet". chicane.net. Retrieved 19 May 2022.
  29. ^ "WHY I LOVE: THE 2005 US GRAND PRIX". The Race. 19 June 2020. Retrieved 19 May 2022.
  30. ^ "Retrospective: How the 2005 United States GP farce unfolded". Autosport. 19 June 2020. Retrieved 19 May 2022.
  31. ^ "Bosses verbal fight continues". Motorsport. 14 June 2003. Retrieved 19 May 2022.
  32. ^ "Stoddart Warns of Departure Due to Spiralling Costs". Autosport. 10 May 2002. Retrieved 19 May 2022.
  33. ^ "Analysis: F1 Tempers Rise after Minardi Cash Call". Autosport. 14 June 2003. Retrieved 19 May 2022.
  34. ^ "Russian-Born Canadian Buys F1 Team". The Moscow Times. 25 January 2005. Retrieved 18 April 2014.
  35. ^ "Stoddart: Jordan sale bad news". Autosport. 27 January 2005. Retrieved 19 May 2022.
  36. ^ "Stoddart submits Minardi entry for 2008". 28 March 2006. Retrieved 19 May 2022.
  37. ^ "Prodrive coy on 2008 entry reports". 21 April 2006. Retrieved 19 May 2022.
  38. ^ "F1 launches new fan zone and TV channel at Spanish GP · F1 Fanatic". F1 Fanatic. 11 May 2017. Retrieved 20 May 2017.
  39. ^ "Minardi confirms place on Champ Car roster". Crash.net. 18 December 2006. Retrieved 19 May 2022.
  40. ^ "Robert Doornbos". Snap Lap. 17 April 2015. Retrieved 19 May 2022.
  41. ^ "autosport.com". autosport.com. 12 March 2008. Retrieved 10 July 2010.
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