DINIZ IS OUT Prost is on the Orange light to the END (Merged)

[renaultbel]

Alain Prost's beleaguered Formula One operation was thrown into deeper waters last night following reports that shareholder Pedro Diniz had walked out on the team.
Diniz's departure comes as another blow for Prost, who is reported o have sought advice on bankruptcy protection from the French courts.

"I do not want to go into details, but I didn't agree with the technical and financial strategy, so I left," he was quoted as saying. "Alain Prost in the main shareholder and now it's his responsibility."

"I hope the problems will be solved but the future of the team was affected by decisions that I did not agree with, he added. I believe we will know what the future of the team will be by December."

Seems to me that Alain is not so a easy man in the World of F1

[Maxmil]

Originally posted by renaultbel
. . . reports that shareholder Pedro Diniz had walked out on the team.

This story gets stranger and sranger. It was back last summer some time that the media was saying that Diniz wanted to increase his stake, but Prost evidently didn't like the terms and they couldn't agree. If that was the case, how come he is still hanging around?

[Bononi]

Yeah, about 4 months ago, it was Diniz intention to buy the team and his dad offered 1$ to Prost, who refused... So Diniz was told to keep apart from Prost's decisions, and now he's leaving.

[Tristan]

It's hard to belive that I find myself thinking that Pedro Diniz leaving a team is a BAD thing!! I can't see Prost being in any way competitve next year. I mean, where is the major backing?? Where is the money coming from?? Hopw are they going to develop a car AT ALL?? I wouldn't be surprised if HHF sets another "lap record" at Barcelona over the winter...

[Bononi]

Now this is what I read :

Prost's debts are about US$ 20 millions (second to french newspaper "L'Equipe"). Even if he payed that, it wouldn't be possible to enter next season, because Prost will have to pay Ferrari, until 31 December, other US$ 24 millions to have their engines. Prost almost doesn't have any sponsorship options, and now his hopes is some backing from french government.
The trouble between Diniz and Prost, began when Prost refused the offer from Asiatech (which was Diniz option). The company offered besides the engines, a US$ 1 million per month injection into the development of the car.

[jiggly_puff]

diniz probably pulled out in order to maintain his new girlfriend naomi campbell.....who needs all his money to make a go of her acting, singing and perfume!

[paulzinho]

What happenned to Flavio and Naomi?

[jiggly_puff]

they broke up - apparently he was hitting her so he gave her a few houses and some money to keep quiet (that is actually true was in the daily mail a few weeks ago)

[paulzinho]

She obviously didn't keep quiet.

[senna12]

Originally posted by Bononi
Now this is what I read :

The trouble between Diniz and Prost, began when Prost refused the offer from Asiatech (which was Diniz option). The company offered besides the engines, a US$ 1 million per month injection into the development of the car.

And this is the deal that Paul Stoddardt took for Minardi, as they are not paying for their Asiatech engines next year.

Perhaps Alain figured if he was tooling around the back of the field with Ferrari power, he'd be hopeless in an Asiatech......now he will have nothing.

Why has it been so difficult for him to obtain sponsors? He's never had a big deal with any French companies of any significance (enough money to make a real difference, anyway).

[Valve Bounce]

Originally posted by Bononi
Now this is what I read :

Prost's debts are about US$ 20 millions (second to french newspaper "L'Equipe"). Even if he payed that, it wouldn't be possible to enter next season, because Prost will have to pay Ferrari, until 31 December, other US$ 24 millions to have their engines. Prost almost doesn't have any sponsorship options, and now his hopes is some backing from french government.
The trouble between Diniz and Prost, began when Prost refused the offer from Asiatech (which was Diniz option). The company offered besides the engines, a US$ 1 million per month injection into the development of the car.

I suppose Alain did not believe that Asiatech would come up with a new/revamped/whatever engine that would be remotely competitive. However, it does seem that Either somebody buys this team (in order to compete in F1 with another chassis under a different name), or Team Prost will sadly be defunct. It is sad, because this guy was a great driver.

As for Minardi, well maybe Paul believes in fairy tails.

[f1manoz]

Well, when Prost finally disappear it will have been a long and excruciating death, but it shouldn't be long now, which is sad as Prost has given all he could into this project.

Would the French government step into help? And why won't French companies get behind their national team?

Frankly, the whole situation stinks and it's kind of sad that it's had to happen to Alain.

[Maxmil]

Originally posted by f1manoz
And why won't French companies get behind their national team?

Don't forget that Renault will be competing next year. Their's will be the "National Team", not Prost's, and as such, will want to have the first and last crack at signing up any available French sponsors. I would imagine that when any French company starts having talks with Prost they will very quickly get a discouraging call from the Regie. I also doubt that the French government will lift a finger for Prost. Their contribution will be to provide a courtroom for the bankruptcy proceedings.

[Takuma]

Surely any assistance for Prost GP would be in contravention of EU regulations?

[paulzinho]

Damn EU!!!

[Crash and Burn]

According to reports in Les Echos newspaper, the Prost team will meet today so that staff can be given an accurate picture of the outfit’s financial position.

Rumours of bankruptcy have been circulating for some months now, and these latest reports suggest that Alain Prost’s team has a limited budget for 2002 should they decide to honour their agreement with Ferrari to take the Italian team’s engines for a second consecutive season.

As a result, Prost could now go in to what is known in France as ‘redressement judiciare’, which would give them a specified amount of time to put together an outline as to how they intend to save the company. If a satisfactory solution is not found, then Prost Grand Prix could be put on the market, providing the opportunity for someone to put the team’s assets towards starting a team of their own

[Crash and Burn]

Speaking to newspaper Estado de São Paulo recently, Diniz confirmed that although he still owns 40% of the struggling French team he has little to do with the outfit because of his poor relationship with team owner Alain Prost.

"I do not want to enter in details, but I did not agree to the technical and financial strategies adopted for the team and I left," Pedro reportedly told the newspaper.

Prost have yet to confirm an engine deal for 2002, and even Minardi boss Paul Stoddart said recently that he was unsure if the French team would make the Melbourne grid.

When asked about the team’s future, Diniz had little to say, simply commenting that as majority partner it is Alain Prost’s responsibility and not his.

"I hope the problems will be solved, but the future of the team was affected by decisions that I did not agree with," he said. "I believe by December we will know what the future of the team will be."

Diniz says that he is now looking at alternative investment opportunities within Brazilian motorsport.

[Super Tourer]

Why should french companies help Prost. I don't get this spin on sponsorship. Choosing to sponsor an event/team/driver is a business decision not charity. A business chooses to sponsor a team, whilst at the sametime taking that budget out of other advertising media.

After all, sponsorship cash has to come out of profits. Sadly Prost has proved to be a poor leader, unable to choose a clear direction and a terrible businessman to boot. In a recent article I read that Prost had now lost all the money he made as an F1 driver.

In the sameway that great footballers don't always make great managers - here's a prime example of why great F1 drivers don't neccesarily make great F1 team owners. Which is probably why,(JYS) apart, most team owners are professional businessmen.

I can't see Prost making the grid in 2002 and I'm not who his buyer would be now that Toyota have come in with their own entry.

[Stephen Green]

It is in fact a very sad situation, but Alain is no stranger to not getting on with partners. His spell with Ayreton Senna was fraught with anger, the same with himself and Nigel Mansell who were good friends until they became team mates. The only guy he seemed to get on with was Damon Hill.

[srinimax]

well alain's people skills are definitely to blame for his predicament too. his image as a great ex-champ can only take him so far. the rest is upto his managerial skills which he seems to be woefully short of. why would the french government or any EU authority help him unless they are confident of improving things. with him at the helm, no one might be able to help. perhaps he should step down and let someone else handle the affairs while he could be consultant to the team. his racing knowledge will definitely benefit the team.

[Stephen Green]

Even Renault shunned him when he tried to get Supertech to supply him engines for his first few years!