**News, Arrows To Miss Brit GP?**

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Well F1 lands in :uk: next week at silverstone :curvyrd: but will there be a team missing? :rscared:

Arrows’ participation in the Foster’s British Grand Prix is under threat following a High Court battle with shareholders Morgan Grenfell.

The investment bank have obtained an injunction preventing a consortium, believed to include Red Bull boss Dietrich Mateschitz and a number of Brazilian businessmen, from investing in the team.

Arrows need the money to pay engine suppliers Cosworth, who are withholding power units until they receive money they are due.

Mr Justice Lightman said the team was in "a dire financial situation" and was "doomed barring a miracle."

Arrows have not transported their cars to Silverstone and it seems they will not be able to compete in this weekend’s race unless Cosworth receive payment.

An Arrows spokesperson told ITV-F1: "We do not have our cars at Silverstone. They are still at the factory. They won’t be here until the outstanding issues have been resolved with Morgan Grenfell.

"We will make a statement later today."

Asked whether she could guarantee that the team would race on Sunday, the spokesperson refused to comment.

Meanwhile, Cosworth commercial director Bernard Ferguson told the BBC: "All I know is we need quite a few million dollars and we can't give them an engine until we are paid. They will not be in a position to run at Silverstone until we are paid.

"They believe they will be in a position to pay for the engines, and we want to support them because we believe in them and want to work with them. But we are not prepared to be their sponsor."

Arrows did not present their cars for scrutineering by the deadline of 4pm on Thursday afternoon. If they wish to race they must now apply for an extension due to exceptional circumstances.

If Arrows do not compete in the race, they are liable to receive a large fine from the FIA.

More news as we get it...
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Does anyone own shares with Arrows Sponsers?.. sell em quick..:lol:

What do people think will be the result of Arrows empty pocket :2cents::shakehead
 

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grandprix.com has an article on this at http://www.grandprix.com/ns/ns06575.html

There were rumours in the last fortnight that one of the teams (and it wasn't Minardi) was 50/50 at best to make the British GP.

Paul Stoddart must be laughing his arse off.
 
Just on the sponsor thing, I don't think Orange will be too worried.

This certainly explains the whole Phoenix nonsense.
 
Actually - in BIG news, the cars have missed scrutineering at the British GP.
 
Yea they've now sorted the money out :2cents: But it's still not certain if there racing tommorrow specially after the scrutineering business :shakehead:
 
Well, the state of play at the moment is that they need to find 3 million quid to get Cosworth to release engine CPUs so they can start the engines!

I understand Cosworth's stance - the High Court basically said on Thursday that the team had been trading while insolvent for a couple of years - and since Arrows had already missed three deadlines for engine payments there comes a time to force this issue.

Whilst I don't want to see Arrows go under, I have absolutely no time for Tom Walkinshaw. His business conduct over the last two years has been nothing short of disgraceful - and the stupid thing is his personal wealth will no doubt not be touched by any of this.
 
While watching BBC World News this morning, the reporter said that a lot of F1 teams were having financial troubles of some sort. Either they were low on funding already, or they had been steadily losing money over the last few years.

Except Ferarri, that is...
 
Well, I think the most publicised problems have been at Minardi - but there had been rumours in the paddock for a couple of months that another team was perilously close to falling over, and I think pretty well everyone took that to mean Arrows (I know I certainly did), especially with the lack of testing they did early on in the year.

If you look through the rest of the paddock, leaving aside the teams with full manufacturer support (i.e. McLaren, Williams, Renault, Jaguar - depending on Ford's mood, although Cosworth are on a nice earner with the engines, assuming the customers pay - and Toyota - Ferrari is a slightly different beast, in that it's a formula one company that just happens to have a succesful car division, and the Fiat link's not like other manufacturer links in F1), everyone's got their different stories.

Sauber run a very tight and efficient operation (as you'd expect from the Swiss) and I'm sure their share of the TV revenues is keeping them in good stead. Jordan needed trimming back, I think Frentzen's tilt at the title in '99 went to the team's head a bit, and they'll be better for the cuts. BAR's issues relate to the support of BAT - the team's a marketing effort rather than a proper racing team, and that one's got 'Honda takeover' written all over it. Minardi's an unusual one - Paul Stoddart's a cunning man (if you can find some history on how he got started in the aviation industry it makes for interesting reading) and now that he's pretty well right to the end of year, he can focus on getting money together for the Cosworths he wants to sit in the back of the black cars.
 
Well from Qualifying at Silverstone :curvyrd: looks like Arrows will be ok for a few more races though I think during mid week they were hanging on by the string of their teeth when there cars got removed.....:gcar:
 
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