Ecclestone rains on Phoenix flames

[rdjones]

This just in from Autosport.com

No Prosts ro race in Malaysia

The new Formula 1 team formed by a consortium headed by Charles Nickerson and backed by TWR boss Tom Walkinshaw, provisionally named Phoenix, has been told it has no right to enter any GPs this season by F1 supremo Bernie Ecclestone.

"He has bought nothing in Formula 1," Ecclestone told The Times. "All he has bought is some show cars. He can forget it. He is wasting his time thinking about racing in Malaysia."

Nickerson, a Lincolnshire-based property developer, paid two million pounds for the Prost assets, which include technical drawings, tools and two F1 cars, but crucially not the team itself, which would have meant paying off its 20 million pound debts. Under the rules of the Concorde Agreement that governs F1, any new team has to lodge a bond of 48 million dollars with the FIA, so if Phoenix intends to race this year it will have to raise this amount.

"We are waiting for an official communication from the purchasers of the Prost assets but they do appear to have major difficulties if they want to join the grid," added FIA president Max Mosley.

With F1 grid slots limited to just 12 teams, acquiring Prost seemed like a potentially lucrative move. Rumours circulated that Volkswagen was behind the buyout and that the cars would be branded Skodas. However, these stories have been strongly denied.

[Tristan]

So where does this leave us?? Back at square one??

[Dr. Austin]

Bernie doesn't want Prost to re-appear as he can now soak a new manufacturer for another $20 mil pounds. If you want an answer, always follow the money trail.

If there is going to be any money made from Prost's demise, it is going to be Bernie's money.

[BBKing]

Dr. Austin. I was expecting you to talk about the start incident since you talk about it as something it would happen. The only thing is that this time it was not Schumacher doing the swerve.

Going back to the topic. Tell Bernie that the new team will help Ferrari and he will change his mind....LOL

[Speed Demon]

I could never see why Phoenix should be allowed to compete. They did not register at the appropriate time and they have not bought Prost Grand Prix, only its assets - neatly avoiding the comapany's debts. People talk of a $30 million fine being imposed for missing the Australian GP, but I can't see how that can be imposed either. You can't miss something that you were never entered as a part of, after all. Paul stoddart is quite right to complain, IMO. I think this might be a case of see you in court.