Sponsorship hard to find says Walkinshaw

Tom Walkinshaw has denied reports that Arrows are in financial difficulties and said the team has two new investors, although he did not reveal who they were. In the ongoing financial saga in Formula One there have been rumours that more teams...

Tom Walkinshaw has denied reports that Arrows are in financial difficulties and said the team has two new investors, although he did not reveal who they were. In the ongoing financial saga in Formula One there have been rumours that more teams could go the way of Prost and recently Paul Stoddart claimed Minardi may not last the season out.

Stoddart has been hampered financially by Phoenix trying to claim Prost's place on the grid: revenue due to Minardi from commercial income is being held up while the situation goes on.

Walkinshaw admits that financial problems exist and sponsors are getting hard to find: "None of the teams in the middle of the field are flush with sponsorship. If you talk to any team on the grid then they will say the same: getting sponsors in the current environment is not at all easy," he said. "I don't believe it will get better until a settlement is sorted out between the manufacturers and Kirch."

Kirch, who hold the commercial rights to F1, are still trying to sell the 75% stake after the division of the company that has the rights filed for insolvency. It's been suggested that Bernie Ecclestone, who originally sold the share to Kirch, may buy it back but the situation is yet to be resolved.

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About this article
Series Formula 1
Drivers Paul Stoddart , Bernie Ecclestone , Tom Walkinshaw
Teams Minardi