Thursday November 11th, 1999

The Arrows Formula One team denied yesterday that it was considering a takeover bid from Prodrive, headed by David Richards, formerly the Benetton team chief.

A statement released by the team said: "Arrows Team principal, Tom Walkinshaw, wishes to deny any talks now or in the past with David Richards of Prodrive regarding a bid to take over the Formula One team. Mr. Walkinshaw strongly objects to what he considers frivolous and unfounded rumors."