Atlas F1 News Service, a Reuters report

Prost Grand Prix Go into Receivership

Thursday November 22nd, 2001

French Formula One team Prost Grand Prix were placed into receivership by a court in Versailles on Thursday, a court spokeswoman said.

The French constructor will be monitored by the court for a period of six months. Judge Franck Michel has been named the team's administrator, the spokeswoman added.

The team were due to make a statement later and a news conference was being held at 1530 GMT.

Alain Prost, a four-times World Drivers' Champion, told sports daily l'Equipe: "I had a meeting with my staff on Wednesday to explain the situation and the possibilities. I have another meeting on Thursday but I cannot say anything."

Prost has had difficulty finding sponsors in time to pay Ferrari, who provide the French team with engines.

Published at 10:09:34 GMT

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