JULY 17, 2002
Arrows trucks head for France
TOM WALKINSHAW has sent the Arrows team trucks off to France but there are still no guarantees that the team will be able to compete as talks continue between Walkinshaw and Morgan Grenfell. Walkinshaw wants a deal with the bank so that he can sell the team to Red Bull but at the moment there is stalemate.
"We still have to come to agreement with existing shareholders," said Walkinshaw in a press statement. "Negotiations are detailed and complex but we don't intend to give up. We need more time. We want to do a deal that will satisfy everyone concerned. We are still in discussions with all parties and are now moving into the time-consuming due diligence process with some of the potential investors."
Walkinshaw added that the team will do everything it possibly can to take part in the French GP at the weekend, which suggests that there is a possibility that the cars will not run.
"We'll keep on trying and hope that common sense and responsibility prevail," said Walkinshaw.
Morgan Grenfell will probably not much appreciate the reference to "responsibility" - an indication that clearly all is not well between the various parties.
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