Arrows update: Cars will run on Saturday

Walkinshaw is currently trying to recruit new backers, with Red Bull owner Dietrich Mateschitz and former BAR team principal Craig Pollock both understood to be involved.

When asked about the reasons for the team sitting out the opening day in Magny-Cours, Walkinshaw said: "There's not a lot to say. As we speak, there are negotiations going on in London with new investors and we were advised to do very little. There are negotiations going on with both Morgan Grenfell [which co-owns the team] and the investors but they are not in contact with each other, that's being done through a third party.

"The cars will go out tomorrow - definitely. Contrary to what was written in certain areas of the press, we are up to date with our payments to Cosworth and management has taken a decision not to run. In the end I think it will be okay but it's a long and drawn out process which has unfortunately been done in the public gaze.

"You always find in life that when you're having a hard period all sorts of lowlife come out and try to give you a kick, but when the proper full story comes out, I don't think we'll have anything to be ashamed about. There are three different groups of investors and I think that's all I can say at the moment."

The Concorde Agreement governing F1 states that a team must participate in an event if it is not to compromise its commercial rights. The definition of participation is open to interpretation, but it is understood that as far as the FIA is concerned, actual qualification for the event is necessary, not merely presenting cars for scrutineering.