Tuesday October 9th, 2001

Arrows boss Tom Walkinshaw has denied recent reports of a possible takeover of his team by Austrian drinks giant Red Bull.

Red Bull's Dietrich Mateschitz said this week that he owned a majority option on the team which he might exercise as soon as this month to turn Arrows into the new "Red Bull All America Team", but Walkinshaw has denied that option exists, and said the report was only speculation.

"Red Bull has never had an option to buy Arrows and this latest story is a re-hash of old speculation," Walkinshaw said.

Mateschitz currently owns a 64 percent stake in the Sauber team, and he is hoping to sell it for an estimated $33 million.

Published at 10:05:04 GMT

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