Arrows on for Belgium (possibly sold)

[vat_man]

From autosport.com

Arrows has announced that it will race in this weekend's Belgian Grand Prix after finalising a deal with an 'American investor' to buy the team.

The team had looked set to miss its second consecutive race as boss Tom Walkinshaw negotiated the sale of his outfit. But on Wednesday morning the Arrows transporters were given the nod to leave their Leafield base and head for Spa-Francorchamps.

A team statement read: "Arrows Grand Prix International announced today that the team has been sent to Spa. Heads of Agreement have been signed regarding the purchase of the team by an American investor. We hope for the deal to be completed by Friday."

Former British American Racing boss Craig Pollock is likely to be involved in the purchase. The Scot has been in lengthy negotiations on behalf of US investors with Walkinshaw since last month.

The deal must signal that a settlement has been made with shareholder Morgan Grenfell, which has been in dispute with Arrows. It is also likely to head off the imminent legal action from creditors which include engine supplier Cosworth.

 

[GilesGuthrie]

But who will drive the Frentzen car? My money's on Frentzen himself.

I don't know about you guys, but I'll be interested to hear more about the deal, and its terms. Like, who are the investors, where does TWR stand in all of this, and will Tom still be the boss? I had heard a rumour on the last of these three, but I'm sworn to an unusual level of secrecy on it.

 

[vat_man]

Originally posted by GilesGuthrie
But who will drive the Frentzen car? My money's on Frentzen himself.

I don't know about you guys, but I'll be interested to hear more about the deal, and its terms. Like, who are the investors, where does TWR stand in all of this, and will Tom still be the boss? I had heard a rumour on the last of these three, but I'm sworn to an unusual level of secrecy on it.

Please don't tell me it's Tom himself that's bought the team - I couldn't begin to imagine the uproar in the paddock if he came back running that team...

Guess HHF has got nothing else to do - and the car when it runs properly is pretty handy...

 

[GilesGuthrie]

Originally posted by vat_man


Please don't tell me it's Tom himself that's bought the team - I couldn't begin to imagine the uproar in the paddock if he came back running that team...

That would be funny! I know Tom's been dumping assets recently, but I doubt he has the money.

Originally posted by vat_man
Guess HHF has got nothing else to do - and the car when it runs properly is pretty handy...

Absolutely. And I think the parting was on relatively good terms, so that's really the reason for my guess. Autosport are saying Bourdais, but he's got an F3000 race that weekend, so it won't be him. I think it's between HHF and Alonso. I hope it's not Alonso, because that would mean I'll have to actually implement the Test Driver routines in Fantasy F1!

 

[vat_man]

Originally posted by GilesGuthrie
Absolutely. And I think the parting was on relatively good terms, so that's really the reason for my guess. Autosport are saying Bourdais, but he's got an F3000 race that weekend, so it won't be him. I think it's between HHF and Alonso. I hope it's not Alonso, because that would mean I'll have to actually implement the Test Driver routines in Fantasy F1!

Rats - I took Courtney hoping Lauda would finally crack it with Irvine!

 

[GilesGuthrie]

Originally posted by vat_man


Rats - I took Courtney hoping Lauda would finally crack it with Irvine!

Regrettably it looks as if that's another of Lauda's great management decisions!

 

[WILLIAMS BMW FAN]

Since Sebastien Bourdais has a race of his own this weekend what about Jos Verstappen? Or is he to consumed in his legal battle with Tom Walkinshaw?

 

[GilesGuthrie]

Yes, Verstappen is still in a legal dispute with Arrows, so it is highly unlikely that he would drive in the remaining races of the season.

 

[WILLIAMS BMW FAN]

Well Giles looks like your guess on Frentzen was right on the money.

from f1live.com

Race organizers for this weekend's Belgian Grand Prix announced today that Heinz-Harald Frentzen looks set to be back behind the wheel of an Arrows car for Sunday's race at the Spa-Francorchamps circuit. Frentzen's name appeared on the official entry list released by the sport's governing body, the FIA, issued here late Thursday afternoon.

Prior to the Hungarian Grand Prix two weeks ago, Frentzen said he had enough of Arrows' financial difficulties - he coyly skirted the issue whether he had been paid or not at the German Grand Prix - and left before the team pulled out of the race. Arrows had been surviving on a race-by-race basis and missed the Hungarian Grand Prix outright.

In July, the company was declared insolvent by a judge at London's High Court and it was reported that the team owed large amounts of money to their Cosworth engine suppliers. Earlier this week they announced they had found an American investor - thus allowing the team to compete in Belgium, however it has yet to be formally announced just who the new owner of the Leafield squad is.

 

[Brian P]

I read an article on this story this morning, they believed that Red Bull may be the investors.

 

[vat_man]

Well, it's thought Pollock is involved in the Red Bull money, and Pollock is saying they were supposed to get something from Arrows and it never happened, so maybe not!

 

[GilesGuthrie]

It's been announced that the new owner is an American called Cal Smith, who's in his eighties, and made his money in mining, I believe. This looks like one to watch!

 

[vat_man]

Originally posted by GilesGuthrie
It's been announced that the new owner is an American called Cal Smith, who's in his eighties, and made his money in mining, I believe. This looks like one to watch!

Frentzen's still in Monaco, Giles - jump in the car, you'll be half a chance for a drive!

 

[GilesGuthrie]

Originally posted by vat_man


Frentzen's still in Monaco, Giles - jump in the car, you'll be half a chance for a drive!

I've got a big weekend planned, but nothing on that scale!!! I would LOVE to drive an F1 car at Spa. Hang on, I'll just get my phone: "Hey Tom, remember me? Well, I'm reasonably handy in a road car, not really up to much this weekend, and have - um - £15 in my pocket, how's about a drive?"

 

[vat_man]

Originally posted by GilesGuthrie




I've got a big weekend planned, but nothing on that scale!!! I would LOVE to drive an F1 car at Spa. Hang on, I'll just get my phone: "Hey Tom, remember me? Well, I'm reasonably handy in a road car, not really up to much this weekend, and have - um - £15 in my pocket, how's about a drive?"

If you had a grand you'd have been a genuine chance...

 

[GilesGuthrie]

This the only interesting thing from Autosport's report on the first practice session:

At least he came out on to the circuit, which was more than the Arrows team managed. Enrique Bernoldi is the only driver representing the squad at the moment, with Heinz-Harald Frentzen staying home in Monaco despite being named on the entry list. The ownership negotiations with an American investor are clearly still ongoing and what will pan out for Arrows over the next few days remains unclear right now.

What can be sure is that Frentzen won't be returning to an Arrows cockpit. Will anyone get behind the wheel of an A23 this weekend? Watch this space.