Tom says that Arrows will survive to race again

Maybe, just maybe
By Huw Alban
August 15 2002

“Arrows will survive.” That is the current headline from the BBC news service in their coverage of the current crisis at Arrows. The headline has it’s origins in a short interview given by Tom Walkinshaw to Autosport magazine.

In summary it is Tom’s belief that he can present a sound case to the FIA that his team cannot compete this weekend for reasons beyond his control. Yesterday all the press could talk about was whether the team could dodge a fine, or whether the FIA would take the hard line and kick them out of the Formula One World Championship altogether.

“The lawyers have said that we have to focus instead on getting a deal done with investors,” Walkinshaw has been quoted as saying by Autosport magazine.

“There are three different offers on the table, from three different continents, and we have been running around all over the place.

“I had hoped to have this matter finalised before Hungary, but the best thing now is to sit down and get it sorted.”

According to “top-level F1 sources” available to the BBC, there is apparently a strong case that could be made to prove that Arrows are insolvent. According to the BBC the fact that the team staff have not been paid for July, the struggle to pay Cosworth, and the recent High Court injunction all point to a strong case against the team. The UK news service also wonders why these on-going negotiations to secure the team would prevent Arrows from competing, especially when the penalties for doing this are so high. If the team is desperately short of cash then that might go some way to explaining their reasons for this weekend, the BBC concludes.

If Arrows were to be booted out of F1 then the new owner would be faced with having to raise the $48million bond in order to re-enter in 2003 - something that may make the team less attractive.

In conclusion to the Autosport interview, Tom Walkinshaw believes that Arrows should not be punished for missing the Hungarian Grand Prix this Sunday.

“We shouldn’t be. It’s force majeure and I cannot see why we would be penalised because we are acting under advice from lawyers,” he said.

All the fans at AllAboutArrows.co.uk hope that the sport’s bosses see things that same way that Arrows does...