Friday 5 February at 08:31 : Feb.5 (GMM) Reports persist that the clock is running down on Campos' embattled formula one project.

Multiple reports this week said the hopeful entrant Stefan GP may have bought the rights to Campos' 2010 car, whose constructor Dallara is apparently owed money by the Spanish team.

It would mean that, even if Stefan does not intend to race the Dallara car, Campos would be unable to fulfil its 2010 entry obligations even if its financial position improves.

But in reaction to the reports, Campos said its agreement with Dallara remains "in place", even though the Italian constructor could provide "other, more limited engineering or design services to other teams".

However, Spain's Diario AS newspaper reports that Friday is a key deadline in the health of the Campos foray.

The article said that if Campos' debt is not dissolved by February 5, the Dallara car "becomes the property of Stefan GP".

"The Italian constructor is unwilling to wait any longer, especially now that a buyer for the cars that were destined for Campos has entered the scene," AS added.