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PAUL STODDART Formula One team boss, airline owner, race driver, successful entrepreneur, the man behind the Minardi two-seater programme, and now Champ Car World Series team owner – Paul Stoddart can tick all of these boxes, and many more, when it comes to career accomplishments. But what’s the story behind this plain-speaking, non-conforming, Australian businessman who, between January 2001 and November 2005, regularly made the headlines as he steered Grand Prix racing’s favourite underdog team, Minardi, through some of the most turbulent times Formula One has ever experienced? Leaving school at 14, because he simply couldn’t wait any longer to get out into the “real” world and start working, this entirely self-made man from the northern suburbs of Melbourne now presides over the European Aviation Group of companies, which owns and operates a range of aircraft, as well as the European Engine Division and the Minardi F1x2 team. The latter consists of a unique fleet of eight, two-seater Formula One cars that, to date, has provided in excess of 2,500 passengers with the opportunity to experience the performance of a top-level, single-seater race car at first hand. Stoddart’s “big break” came in 1989, a scant three years after he had sold up “Down Under”, including motoring and aviation interests, and moved to the UK in search of bigger challenges. Initially setting up a small group of new-car franchises, he was doing adequately well before an amazing opportunity presented itself. The Royal Australian Air Force had decided to sell off five little-used aircraft from its VIP fleet, including two BAC 1-11s. The “job lot” also included what eventually turned out to be 48 shipping containers full of very valuable spares. Taking a decision that reflects perfectly his ongoing business philosophy, Stoddart spotted an opportunity, raised every penny he could, and took a large, but calculated risk by buying the aircraft. They were soon in service in Europe, and when the European Aviation Air Charter 1-11s were augmented four years later with a further 20 similar aircraft acquired from British Airways, Stoddart was in the happy position of possessing a fleet of BAC 1-11s, plus enough spares to keep them flying for a considerable time, with sufficient left over to become the largest supplier of 1-11 spares in the world. Most importantly, he had accomplished this at realistic prices and could boast an airline with the lowest operating costs in Europe at the time. It was to provide the commercial “springboard” for everything that has followed. In December 2006, just 12 months after departing the Formula One paddock following the sale of Minardi to the Red Bull organisation, Stoddart announced that he was to return to front-line motor racing with a new venture. He had purchased a substantial interest in the Indianapolis-based CTE Racing-HVM team, and along with co-owner and former F1 team principal, Keith Wiggins, would field a multi-car entry in the 2007 edition of the Champ Car World Series under the Minardi Team USA banner. As has often been observed, it’s difficult to keep a good man – especially one with motor racing in his blood – down for long. Ends Media contact |
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Paul Stoddart |
