Feb.8 (GMM) Campos has been given more time to pay outstanding bills to its Italian car constructor Dallara.

Following reports that Dallara has already lost patience and sold the rights to the car to Stefan GP, Spain's Diario AS reveals that Campos must now pay its reportedly EUR4 million debt by next Wednesday.

Recent Spanish reports said the last deadline expired late last week.

Despite the extension, AS insists that if Campos cannot come up with the missing money, the rights to the Dallara car will fall under the control of Stefan GP, the Serbian outfit that is hoping to receive an official team entry for 2010.

"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," Spanish motor federation president Carlos Gracia said.

He added that he believes Tony Teixeira's reported investment into the Campos team is still on track.

Meanwhile, Spain's El Pais newspaper reports that the latest Concorde Agreement allows teams to sit out three grands prix before their official entries are revoked.

Latest F1 News - Mobile version

26 Feb: New Ferrari not quickest in field - Domenicali 26 Feb: Red Bull still best in 2013 - Tost 26 Feb: 2014 French grand prix 'possible' - Prost 26 Feb: Danica Patrick 'not interested' in F1 switch 26 Feb: Report - Gilles Simon working on F1 engine for Honda 26 Feb: Gutierrez plays down link to Carlos Slim 26 Feb: Caterham exhaust 'legal' insists van der Garde 26 Feb: McLaren replaces Mercedes-bound Lowe 25 Feb: 'Engine maps' trouble for Red Bull, Lotus - report 25 Feb: Mercedes-bound Lowe to miss 2013 opener - report 25 Feb: Mercedes 'in group of teams' behind Red Bull - Lauda 25 Feb: Gutierrez expects Hulkenberg to beat him early in 2013 25 Feb: New Ferrari 'much better' than 2012 - Massa 25 Feb: Teams 'will adapt' to new tyre situation - Gutierrez 25 Feb: Tight rules make today's F1 cars 'the same' - Forghieri 25 Feb: Williams removes controversial exhaust trick 25 Feb: Contract 'conflicts' cause of Marussia test snub - Razia 25 Feb: Lotus to fight Red Bull for title - Gutierrez 25 Feb: Marussia 'ahead of Caterham' - Chilton 25 Feb: Sutil will not stay in F1 as test driver The latest F1 News - Mobile Version