 Arrows Up to Date on Cosworth Payments Wednesday July 17th, 2002 The Arrows team said on Wednesday that their participation at this weekend's French Grand Prix is still unsure despite meeting a payment deadline for their supply of Cosworth engines. The Leafield-based team had to meet a lunchtime deadline on Wednesday to pay an estimated $1.5 million to use the Cosworth power units at Magny-Cours this weekend. A source close to Cosworth confirmed to Atlas F1 that the money had "all been paid within the lunchtime deadline set." The team said, however, that their parcitipation at the weekend's French Grand Prix is still uncertain despite all payments to engine suppliers Cosworth being up to date. Arrows insisted there is no connection between these payments and the team's participation in the upcoming Grand Prix. "Our participation in the French Grand Prix has nothing to do with engine supply," the team said in a statement. "All payments to Cosworth Racing are up to date and, as stated before, the terms of the agreement are confidential. "The issues we have are nothing to do with Cosworth, they are to do with one of our shareholders. We are still in discussions and, as we said yesterday, will do all in our power to compete this weekend." Shareholders Morgan Grenfell, part of the Deutsche Bank group, secured High Court backing before Silverstone to block a proposed sale of Arrows' assets to Austrian Red Bull sports drink magnate Dieter Mateschitz. Arrows sat out Friday's practice session at Silverstone two weeks ago before they finally took part in the British Grand Prix after Tom Walkinshaw had agreed a compromise deal with Cosworth. The team's trucks only left for France on Tuesday evening while Walkinshaw continued attempts to secure a deal for new investors to buy into the team. The source added that Cosworth expect to maintain their arrangement where Arrows will have to pay for use of the engines on the Wednesday prior to each of the remaining Grands Prix this season.
Published at 15:00:08 GMT
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