Simplify the following text for a Grade 7 native English-speaking person.
Original: The chassis , SA05 , was based on the 2002 Arrows A23 , bought from ex-Minardi principal Paul Stoddart who purchased them when the Arrows team went into receivership .
Simplified: In 2006 , the chassis , Super Aguri SA05 , was based on the 2002 Arrows A23 . The Arrows chassis was bought from ex-Minardi principal Paul Stoddart .