Arrows Call In Receivers

  • Thread starter Thread starter Wastegate
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Wastegate

Wastegate

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So Arrows had finally called in the official receivers, who say they have hopes of selling the team as a going concern because of its strong 25 year-old brand name.

I dont think so. The teams name is almost worthless - if Lotus and Brabham disappeared from F1 then surely Arrows stands little chance. The official FIA entry was what was valuable and they've lost that. My guess is that everything will be auctioned off for peanuts.

I bet Tom Walkinshaw and Morgan Grenfall now wish they'd accepted Craig Pollock's offer in the summer.
 
No car, no engine, no entry - the only thing the team has is the windtunnel, and that's mortgaged to the eyeballs.
 
Without the entry they're certinally not a going concern in the F1 team sense.

So what about as a racing team?

Well I don't see anything worth taking the debt on for that's for sure. With CART and F3000 now both spec series chassis wise there's no need for anyone who could afford Arrows to develop their own car.

You'd be better waiting for liquidation and bidding on the assets at 1/10th real value.
 
Originally posted by vat_man
No car, no engine, no entry - the only thing the team has is the windtunnel, and that's mortgaged to the eyeballs.
Click to expand...

Yes, but it has value, since there's a two-year lead time on a wind tunnel.
 
Originally posted by GilesGuthrie
Yes, but it has value, since there's a two-year lead time on a wind tunnel.
Click to expand...

Yeah - value to the bank that has it mortgaged, and then after its sold (if there's anything left), value to the creditors.
 
Building a good wind tunnel is $20mil tops.
Arrows' debts are twice that.

Why not just wait for the liquidation, then buy what's of the wind tunnel?
 
And it now seems that the bad apple has made the basket go rotten - TWR have called in the receivers also.
 
Nice little side effect here - TWR ran three teams on behalf of Holden in the Australian V8 Supercar championship. With TWR going into receivership, Holden took the opportunity to buy TWR Australia and the three teams.

On the eve of the non-championship events at the Australian GP, everyone suddenly remembered that under the rules of the championship manufacturers aren't allowed to own teams - meaning that the series champ, Mark Skaife, and the second and third place drivers might not be able to run on the weekend.

So - fun and games...
 
Originally posted by vat_man
Nice little side effect here - TWR ran three teams on behalf of Holden in the Australian V8 Supercar championship. With TWR going into receivership, Holden took the opportunity to buy TWR Australia and the three teams.

On the eve of the non-championship events at the Australian GP, everyone suddenly remembered that under the rules of the championship manufacturers aren't allowed to own teams - meaning that the series champ, Mark Skaife, and the second and third place drivers might not be able to run on the weekend.

So - fun and games...
Click to expand...


he he he now wouldnt that be a tragedy?:lol: :lol: :lol:
 
Well - true enough, but I seriously doubt TEGA or the Grand Prix Corporation would be particularly pleased to see three front running teams out.
 

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