Prost saga: Stoddart makes claims

Buyers have been found for the bankrupt team, with Walkinshaw's TWR company providing the engineering support. But Stoddart tried blocking tactics to stop the deal going through because he believes Walkinshaw wants control of a second Formula 1 entry alongside Arrows. The Australian argues that, as Prost missed scrutineering for this weekend's Melbourne race, their entry is no longer valid under the Concorde Agreement to which F1 is run to and is therefore worthless.

Stoddart is also concerned that the deal will have repercussions on the value of the other teams in the pitlane.

"I don't think your tape would be long enough to list my objections," Stoddart told Autosport.com in Melbourne. "Let's just say that there was a due process for the purchase of Prost which Tom apparently took no part in. Bids were rumoured to have been made between $30-$60 million and I became aware 12 days ago that Tom was making a bid for effectively the crown jewels but not the whole of Prost, which I don't think in law can be done.

"I had to monitor it because it has a financial effect on me and I was forced to make some effort towards stopping Tom going down this road, which I did. I firmly believe, and so do three UK legal opinions and two French, that as of the closing of scrutineering yesterday, the entry is invalid. So, I don't know what he has spent his money on.

"Because, if he's got the right to enter, then he's simply wiped $300 million off the value of this pit lane because each of us value our entry at around $25-30 million each. What about the French creditors, employees and law and the European Union law? There are breaches everywhere.

"If this is allowed to stand or has any legal standing and I don't think it has, then there will be court challenges all over the world and I'll be leading some of them.

"Never mind Paul Stoddart, this is wrong for Formula 1 and needs sorting out. Quickly."

For details of Stoddart's 'spoiler bid' for Prost