Newey may work on Toro Rosso car

The little team formerly known as 'Minardi' could be about to make a significant step up the grand prix grid next year.

Now called 'Squadra Toro Rosso', the Faenza based outfit is owned by Dietrich Mateschitz, the energy drink magnate who also has the deed to the 'Red Bull Racing' team.

As well as buying Minardi from Paul Stoddart, Red Bull has bought renowned F1 designer Adrian Newey from McLaren.

''We are about to double the Minardi design department,'' Mateschitz revealed in an interview with Motorsport Aktuell.

The Austrian added: ''It's not forbidden that Newey can also look at the Toro Rosso car.''

Billionaire Mateschitz also denied that Englishman Newey, 46, had been lured from Woking with a huge pay check..

''(Newey) did not profit financially from this move,'' he insisted. ''On the contrary.

''We are not an under-financed team, but we have a third of the budget of others.''

Mateschitz said Newey would team up with lauded ex-Renault man Mark Smith, despite F1 speculation that the pair might not want to share the technical limelight.