The Steward Grand Prix Team, newcomers to Formula One next year, have scored a major sponsorship deal with HSBC Holdings, an Asian company wich owns Midland Bank.. It is a 25 million pounds sterling five year deal.

Stewart said: "We are creating a team with Ford, HSBC and others which will ultimately mount a challenge for the constructors' and drivers' world titles."

He also added that he needs three more of this kind of sponsors to get the budget he needs.