Campos F1 denies talk of financial woes

The boss of newly-formed F1 team Campos has denied it is in financial trouble following reports claiming the Spanish outfit may not make it to the 2010 starting grid.

Team boss Adrian Campos told the BBC that he was looking for more investment, but insisted the team will be lining up at the first race.

"We are talking with people who would like to be shareholders," Campos said to the BBC. "We expect to have more investors."

One of these potential shareholders is South African businessman Tony Teixeira, who the BBC says has agreed a deal in principle to buy a major shareholding in the team.

Rumours have been circulating in F1 that the team has been close to folding after it has failed to attract major sponsors. Young driver Bruno Senna (above) has signed to the team, but his famous name has yet to bring the backing the team needs.

There has been no announcement on the second driver in the team, but Campos has admitted that they are also likely to be an inexperienced racer. Candidates such as former GP2 drivers Vitaly Petrov of Russia and Venezuelan Pastor Maldonado are supposedly in the frame, along with a third, unnamed, driver.