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.
Share Or Save This Story
Obituary: March and Arrows F1 co-founder Alan Rees
Top 10 Arrows F1 drivers ranked: Hill, Warwick, Fittipaldi and more
The forgotten member of F1’s greatest rookie crop
WRC Canary Islands: Ogier heads Toyota 1-2-3-4-5 after dominant Friday
Why Marquez can only "survive" in Spanish GP despite return to full fitness
What Apple TV’s F1® coverage delivers for fans in the U.S.
What other tracks should return to the F1 calendar? Our writers have their say
Subscribe and access Autosport.com with your ad-blocker.
From Formula 1 to MotoGP we report straight from the paddock because we love our sport, just like you. In order to keep delivering our expert journalism, our website uses advertising. Still, we want to give you the opportunity to enjoy an ad-free and tracker-free website and to continue using your adblocker.
Top Comments