Minardi was an automobile racing team and constructor. It was founded in 1979 by Giancarlo Minardi. It competed in the Formula One World Championship from 1985 until 2005. The team was headquartered in Faenza, Italy. They had little success, but acquiring a loyal group of fans. In 2001 the team was nearly out of money, and was about to shut down. To save the team Mr. Minardi sold it to Australian businessman Paul Stoddart. Stoddart ran the team for five years. Then Stoddart sold the team to the energy drink company Red Bull in 2005. Red Bull renamed the team Scuderia Toro Rosso.