Exclusive: Gorne, Synge, AMVEST Behind Arrows Deal

Former BAR and Reynard men Rick Gorne and Robert Synge are the minds behind the currently negotiated Arrows purchase deal, sources told Atlas F1 and RaceFax.

The two are representing 74-year-old American millionaire, Carl W. Smith, founder of AMVEST Corp. from Charlottesville, Virginia. Previously an investment banker, Smith founded AMVEST in 1961, having made his fortune in coal mining and natural gas. He is estimated to be worth nearly half a billion US dollars.

Current owner Tom Walkinshaw - who is expected to continue running the team - showed Cosworth a header of agreement, according to sources, based on which the Ford-owned company released the engine units for this weekend's Belgian grand Prix. Jaguar sources further stated today at Spa that there is no further proviso from Cosworth's side to stop Arrows from racing this weekend.

Synge and Gorne were among the founders of British American Racing, having both worked with Reynard previously. Synge was the team's manager, while Gorne was the commercial director. The two were also involved, through Reynard, with the establishing of the football club backed racing series, Premier-1.

With the recent financial downfall of Reynard, Synge was also involved in the founding of Apollo Racing Design - a consultancy that specialises in carbon composite design and manufacture.

Gorne was not available for comment at this time, while Synge - who spent the afternoon at the Arrows factory in England - said he could not make any comment on the deal.

Arrows were expecting to finalise the deal by tomorrow morning, prior to running in free practice for the Belgian Grand Prix.