All over for Arrows?

The fast diminishing hopes of Arrows being in the 2003 Formula One championship, or even having a future at all, appear to have vanished completely with the break down in negotiations with investors. German Grand Prix Racing, headed by Oliver ...

The fast diminishing hopes of Arrows being in the 2003 Formula One championship, or even having a future at all, appear to have vanished completely with the break down in negotiations with investors. German Grand Prix Racing, headed by Oliver Behring, was due to rescue Arrows but backed down from the deal when the team's entry to the 2003 championship was rejected by the FIA.

Arrows intended to appeal the FIA's decision because the future of the team depended on securing entry to next year's championship: with the rejection, Behring's investor group has lost interest. "The deal with Arrows has been cancelled," Behring reportedly told the German media. "I have had no contact with Arrows for many days and see no future for the team, even if they get their licence back."

Arrows recently laid off its remaining staff and even if it did win a reprieve, it has no drivers, no engine supply and now, no financial backing. The team is still struggling to meet debtors demands and investment bank Morgan Grenfell were the latest to be added to the list of those seeking compensation.

Since the demise of Prost Grand Prix prior to the 2002 season there have been increasing warnings that more teams could follow suit if measures aren't taken to keep financial pressures at bay. At one point it seemed Minardi might not have made it to the grid next year, while others have been forced to make staff redundancies or have lost major sponsors. The decline in audiences is something for F1 to be worried about but less and less teams is just as much reason for concern.

Be part of something big

Write a comment
Show comments
About this article
Series Formula 1
Teams Minardi