STOP PRESS: Arrows on for Spa!
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.
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