Sunday November 18th, 2001

The Arrows team owners have stated that more financial input is needed if the team are to survive, according to a report in the Sunday Business newspaper.

As Formula One continues to battle against fears of a worldwide financial recession, the Arrows team are one of several on the grid to be at the centre of rumours surrounding their future.

The Sunday Business report quoted a statement from Ernst and Young, Arrows Autosport's accountants, which said: "The accounts have been prepared on a going concern basis, the validity of which depends on the future financial support of the company's shareholders as well as related companies and sponsors to the group."

Arrows, owned by Tom Walkinshaw (45 percent) and Deutsche Bank, announced a loss of £9.8 million (pounds) this year and a loss of £42.1 million in 1999, according to the report. Arrows have signed a lucrative engine deal with Cosworth for 2002 and are looking for an improvement in performance that will in turn provide more revenue.

But with the Prost team fearing for their future, and yet to sign a driver or engine for 2002, and European Minardi boss Paul Stoddart warning of a potential financial meltdown for the smaller teams, Formula One's grid appears far from secure.

Published at 11:05:58 GMT

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