 Arrows Yet to Secure Deal to Race in France Tuesday July 16th, 2002 The debt-ridden Arrows team have yet to secure a crucial deal which will allow them to come up with a reported $1.5 million payment to engine suppliers Cosworth in order to race at this weekend's French Grand Prix. Team boss Tom Walkinshaw has been embroiled in meetings since the British Grand Prix as he attempts to find a solution to an injunction from part-owners Morgan Grenfell which prevents him or any of his current sponsors providing extra funding to the team. It is understood that energy drink manufacturers Red Bull, who currently sponsor the team, have made a firm offer for a buy-out, but Walkinshaw must convince shareholders Morgan Grenfell that the price is right. Both Red Bull and Morgan Grenfell have confirmed they have been in talks with Walkinshaw since the British Grand Prix as they try to find a solution to the current problems. Neither party was able to confirm claims on Monday that the deal had already been completed but, it is understood, there has not yet been a change to the previous situation. A source close to Cosworth insisted that if Walkinshaw cannot provide the money by Wednesday evening then his team would be prevented from taking part in the race at Magny-Cours. The Cosworth insider claimed there would be no negotiations this time to allow Walkinshaw to extend the Thursday deadline for scrutineering, as he did at Silverstone before the British Grand Prix. Walkinshaw dipped into his own pocket to provide a back-payment of $4.75 million to Cosworth at Silverstone in order to take part in the British Grand Prix. He may be forced to do the same again before the French race because if he fails to meet the deadline Cosworth has set, it could end the team's participation in Formula One. It has long been suggested that Red Bull boss Dietrich Mateschitz is keen to develop the team as Red Bull Team USA, and it is understood that he wants his company to replace Orange as title sponsors at the end of the year. There have been suggestions that Orange has already decided to end their involvement, which is up for renewal at the end of this year, with claims that owners France Telecom want a link-up with Renault. But a spokesman for the telecommunications giant said: "No decision on the future has been made and despite the current problems we are very happy with the partnership."
Published at 08:48:45 GMT
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