Prost in Receivership

[vat_man]

It was announced overnight that the Prost team has been put into receivership.

No great surprise, there then....

 

[Talentless]

what is 10 bucks in francs?

 

[vat_man]

Originally posted by Talentless
what is 10 bucks in francs?

I don't know, and I lack the motivation to find out.

 

[Jordan]

Well, although I'm not a big fan of the team, I don't like to see this happening.

 

[vat_man]

Originally posted by Jordan
Well, although I'm not a big fan of the team, I don't like to see this happening.

Well, when you spend $43 million on a 12 month old Ferrari engine, gearbox and rear suspension and score four points, whilst another team simply use the engines and finish fourth on a budget of about the same size, you gotta ask the question....

 

[Phil]

Bernie will help them out if it gets really bad.

 

[spaceviper]

i just read that he is 30 million in debt, yet they will be here for the 2002 season, good to hear, but he will be bankrupt after the season anyway so why bother?

 

[vat_man]

Originally posted by spaceviper
i just read that he is 30 million in debt, yet they will be here for the 2002 season, good to hear, but he will be bankrupt after the season anyway so why bother?

Well, they're listed in the FIA's 2002 entry listed, but no drivers and, more significantly, no engines.

I heard yesterday the French court that's running the receivership has proposals from four buyers which it's considering this week. The talk is the situation is so bad that if the court doesn't find any of the offers acceptable it will call for instant liquidation.

The offers look pretty good, though - someone will buy them. No point paying more than you have to.

 

[sn00pie]

Originally posted by Talentless
what is 10 bucks in francs?

10 dollars are 25 guilders
1 guilder is 30 franks
0.4 dollars are 30 franks
10 dollar is about 650franks

now there

 

[vat_man]

Well, actually there's a complication - F1's TV agreements guarantee a field of 20 cars, and with Toyota in the field they now have that, even if Prost fall over/

 

[KevinPSX]

Someone will buy Prost if Alain can't run the team.

 

[Dudley]

IT would be cheaper to junk the whole thing, I suspect at least one person is just waiting for them to fold which could be as early as tomorrow.

10 dollar is about 650franks

Actually it's less than a tenth that.

 

[Dudley]

Well, actually there's a complication - F1's TV agreements guarantee a field of 20 cars, and with Toyota in the field they now have that, even if Prost fall over/

Actually they have 22.