Phoenix have no F1 entry, say FIA

A statement has been released by the FIA which says that Phoenix, who have bought cars and equipment from bankrupt French outfit Prost Grand Prix, have no entry to the 2002 Formula 1 World Championship.

Phoenix, owned by British businessman Charles Nickerson, has turned up in Malaysia with a pair of year-old Prost AP04s. They are said to be fitted with TWR V10 engines used by Arrows in 1999. TWR boss Tom Walkinshaw has also supplied a skeleton crew of mechanics to run the cars.

But the FIA appears to have quashed the chances of Phoenix racing this weekend, even before the cars have made it to scrutineering.

The statement read: "Having examined the judgement of the Tribunal de Commerce de Versailles the FIA's advisers have noted that the court has not transferred Prost Grand Prix itself nor made any attempt to transfer the Prost Grand Prix entry in the 2002 Formula 1 World Championship, either to Phoenix Finance Ltd, or to Mr Nickerson."

If Phoenix wish to enter the 2003 championship, they will have to pay $48 million. It is believed that all they have paid so far is around $2 million for the Prost assets. F1 boss Bernie Ecclestone said last week that all Phoenix had bought was some "show cars".