Future of Arrows still unknown

Despite making a payment to creditors recently, the future of the Arrows F1 team is still unknown as negotiations continue. A legal decision to allow the team breathing space to sort out the problems was announced by Arrows today. "The High...

Despite making a payment to creditors recently, the future of the Arrows F1 team is still unknown as negotiations continue. A legal decision to allow the team breathing space to sort out the problems was announced by Arrows today.

"The High Court in Leeds (UK) today agreed to postpone any hearing regarding the future of Arrows for 28 days," the statement read.

"Arrows is delighted that its creditors and the Court have given the Company a chance to secure the best possible future and the Company remains committed to achieving this."

"The process of selling the team is ongoing and that is where all efforts will continue to be concentrated at this time.
Arrows will make further statements as and when news is available."

It has been rumoured that American mining millionaire Cal Smith is the mystery buyer involved but nothing has been confirmed. Arrows turned up at Monza with a motorhome and transporter during last week's test session but no team cars took part. It's yet to be seen if they will take part in the Italian Grand Prix at the circuit this weekend.

Meanwhile, former Arrows drivers Jos Verstappen and Heinz-Harald Frentzen are set to add to the team's financial woes. Verstappen was unceremoniouosly dumped by Arrows at the beginning of the season in favour of Frentzen, who in turn left the team recently due to the difficult circumstances. Both are expected to claim compensation.

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About this article
Series Formula 1
Drivers Jos Verstappen , Heinz-Harald Frentzen