Team boss Stoddart marks the end of Minardi's reign in China

His team may have propped up the table for the second straight year, but Stoddart was quick to hail their achievements over the past 21 years.

"The words 'Never has so much been achieved by so few with so little' can never be more justified as they are with Minardi," said Stoddart.

"The team has survived against all the odds and this is a sad day."

Stoddart bought the Italian-based team five years ago but has enjoyed more ups and downs in that time.

The Australian eventually agreed to relinquish control in September when he sold Minardi to Red Bull, who intend to race them as a junior team under the name Squadra Toro Rosso.

Giancarlo Minardi, who founded the team, said Minardi had survived for so long because of their unique spirit.

"Over the years we have experienced a number of problems," he said. "But we've been able to deal with them thanks to the passion that has always existed within this team."

Minardi competed in a total of 340 grands prix and used 37 drivers in that time. The team amassed a total of 38 points but never came close to victory.

Dutch duo Robert Doornbos and Christijan Albers signed off Minardi's reign by finishing 14th and 16th respectively in Shanghai on Sunday.