Arrows - Down the pan????Rumoured demise of Team (Merged)

Yoong Montoya · 1 Jul 2002, 20:06 (Ref:325370)

There is a story on Grandprix.com that there is a possibility that one of the current teams will not be present for Silverstone due to financial reasons. Minardi is not the team in question by the way. I would think it would be Arrows because the team boss put $4 million into the team to continue - e.g Tom Walkinshaw paying Ford out of his own money to continue.

I really hope this does not happen. I hate to see any team retire from F1 due to financial reasons.

The link is http://www.grandprix.com/ns/ns06555.html

Lee Janotta · 1 Jul 2002, 22:27 (Ref:325467)

Well, I can't see it being Arrows, as the travel expenses to get to Silverstone would be almost nill compared to any other GP weekend. If they had to, they could bring two cars in on flatbeds!

Total-F1 · 2 Jul 2002, 18:10 (Ref:325994)

Plus the fact that Red Bull bought 49% of the team aweek or two back, I can't see them being entirely broke - unless of course the cheque for the Cosworths bounced...

Valve Bounce · 2 Jul 2002, 22:59 (Ref:326217)

Eddie????

Valve[img]http://www.**************************/smilies/bouncy.gif[/img]

cos · 3 Jul 2002, 17:31 (Ref:326593)

This story seems to suggest that a court case this week could decide whether Arrows turn up this weekend....

Quote:

The word in legal corridors is that the case will decide whether or not the team will be seen at the British Grand Prix this weekend

JohnnyBravo · 4 Jul 2002, 10:54 (Ref:326963)

Has anyone else heard the rumours regarding the demise of the Arrows F1 Team.

Red · 4 Jul 2002, 10:57 (Ref:326964)

Suuuuureeee. Which one of them?

[Edited to remove link which became invalid when the threads were merged. R.]

Valve Bounce · 4 Jul 2002, 12:51 (Ref:327030)

It seems that Tom Walkinshaw is in more trouble than we thought. He has to pay money for engines and so on before Morgan Grenfell will agree to the sale of Arrows to Mateschidt. I know I put a hex on the guy, but that was supposed to make him go bald and lose his erection, not get him into this much hot water. Poor Tom.

Valve[img]http://www.**************************/smilies/bouncy.gif[/img]

josvandeperre · 4 Jul 2002, 14:26 (Ref:327078)

see www.autosport.com - the trucks are at Silverstone but locked up when everyone else has unloaded

**Peter Mallett** · 4 Jul 2002, 14:33 (Ref:327082)

Soooo,

If they do go pop will Stoddart get their tv money?

josvandeperre · 4 Jul 2002, 14:47 (Ref:327085)

hello Peter - I bet he's hoping !

Cars have to be presented at 1600 hrs UK (1700 ten-tenths) for scrutineering but apparently have not been unloaded yet

**Peter Mallett** · 4 Jul 2002, 14:51 (Ref:327088)

Hmm,

I'm actually in two minds about this. On the one hand I think it's sad and not a little scary that we may be losing yet another team, but then again, TW has really gone down in my estimation in the last few years. The epithet "canny scot" (businesswise) has never meant anything other than cheating b"£$%^d to me and he's certainly a "canny scot".

philmann · 4 Jul 2002, 15:04 (Ref:327092)

Found on www.telegraph.co.uk -

Arrows unable to survive without 'miracle'
(Filed: 04/07/2002)

Arrows, the prestigious British Formula One racing team, is "doomed short of a miracle", according to the company's lawyers at a High Court hearing today.

The company had been refused permission by Mr Justice Lightman to enter into commercial deals to raise money for new engines so they could take part in the Silverstone Grand Prix on Sunday.

Arrows bosses were understood to be trying to arrange a last minute-deal to save the company after Morgan Grenfell, the bankers which have invested millions of pounds in the company, successfully stopped the racing team selling their prime asset - its entitlement to payments from World Championship races.

Oh dear, looks as though they are in a little spot of bother!!

**touringlegend** · 4 Jul 2002, 15:06 (Ref:327093)

Autosport reported this week that Stoddart got his GBP 8 million.

josvandeperre · 4 Jul 2002, 15:10 (Ref:327095)

Shall we link this to the thread above ?

DavidStHubbins · 4 Jul 2002, 15:22 (Ref:327104)

Oops, no arrows!

**Peter Mallett** · 4 Jul 2002, 15:22 (Ref:327106)

Surely it's the thread down there?

Suzy · 4 Jul 2002, 15:25 (Ref:327109)

Sad news for all concerned. Frentzen, Bernoldi and all the hard-working guys and girls at Arrows in Leafield (some of whom are my friends as I'm local to Arrows) who now face an uncertain future.

Super Tourer · 4 Jul 2002, 15:25 (Ref:327110)

Remember that Arrow's only just scrapped into the Monaco GP, as Ford were holding their engines back awaiting payment, which I take it TW made personally.....

Look's like the cossie deal was too much for Arrow's. To pile on the gloom, France Telecom , which owns Orange is in serious financial do-do, to the point where re-nationalisation has been considered.

Needless to say, serious belt tightening is required by Orange, so even if they wanted to continue, they probably couldn't.

More glomm2 - now that the sale to Red Bull is looking unlikely, it could force RB into the arms of...Jaguar....apparently Niki Lauda has been courting Red Bull heavily...being a fellow Austrian to Red Bull boss Dieter (whatever!) who owns the company. Apparently Red Bull are looking at a tie up with a manufacturer to promote their products with........

**Peter Mallett** · 4 Jul 2002, 15:30 (Ref:327114)

Quote:

Originally posted by Suzy
Sad news for all concerned. Frentzen, Bernoldi and all the hard-working guys and girls at Arrows in Leafield ............................ who now face an uncertain future.

I'm with you there Suzy. It is a shame, but as I said elsewhere its scary too. How many more teams will go down this year?

IMO we've got Minardi (just hanging on), BAR possibly getting reduced BAT funding, Jordan making cuts etc.

**Peter Mallett** · 4 Jul 2002, 15:31 (Ref:327115)

Yep, its still down there.

**Craig** · 4 Jul 2002, 15:36 (Ref:327118)

Oh ****. I just sold them 2k worth of kit...

*Please* don't go bust!

josvandeperre · 4 Jul 2002, 15:40 (Ref:327127)

I wonder if all the punters will get a 9 % refund for there being two fewer cars on the grid - somehow I doubt it.....

josvandeperre · 4 Jul 2002, 15:41 (Ref:327128)

So who are Cosworth's two customer teams - Jordan & Minardi ?

Super Tourer · 4 Jul 2002, 15:41 (Ref:327129)

Suzy

I agree, perhaps this will give Bernie and the others a wake up call. We've had two teams making job cuts, one nearly not complete the season and Arrow's, maybe broke - in one season.

Don't forget that up at the 'rich end' of the grid, Ford are losing £4 billion a year and desperate to save cash.

Fiat are in massive financial trouble, having to sell a bit of Ferrari to a merchant bank, just to bring in some cash.

It's not all that rosy at either end of the grid....and when these companies need to save more cash, F1 will be the first thing they drop......and another thing.....the tech companies were supposed to be the new raft of sponsors to take over from the fags - as we now know, most of them are either broke or at finger tip stage....ho hum.....

I'll just go and pour myself a drink.....

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