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Prost team placed into receivership

Alain Prost's dream of repeating his driving success as a Formula One constructor is almost certainly over after his Prost Grand Prix team was put into receivership. The French constructor will be monitored by the court for a period of six months. Prost has found it difficult to obtain sponsorship in time to pay Ferrari, who provide their engines.

Speaking earlier, four-times world champion Alain Prost told sports daily l'Equipe: "I had a meeting with my staff on Wednesday to explain the situation and the possibilities. I have another meeting on Thursday but I cannot say anything."

Last season was especially turbulent, as the team went through five drivers after starting with Frenchman Jean Alesi and Argentine Gaston Mazzacane. The below-par Mazzacane was replaced after four races by Brazilian Luciano Burti. Alesi left in August to replace Germany's Heinz-Harald Frentzen at Jordan. Frentzen took Alesi's place. Burti was then substituted for the last three races by Czech Tomas Enge after crashing heavily at Spa. Alesi scored all four of their points in 2001, allowing Prost to finish the season in ninth place.

The court's decision comes at the end of five disappointing seasons for Prost. Out of 83 races, the team failed to claim even a single pole position. It's all a far cry from back in 1997 when the Frenchman seemed set to achieve the dream of a lifetime by purchasing the team from Guy Ligier in 1997. His aim was to make create a fully French outfit with a French chassis, French engine and French drivers

The team got off to a good start in Prost's debut season, finishing sixth in the constructor's world championship with 21 points. It was all downhill from there, however, with only one point scored in the 1998 season. Prost blamed the poor year on a serious crash suffered by Panis at the Canadian Grand Prix. There was a slight improvement in 1999, with a total of nine points. In 2000, the French team hit rock bottom by finishing last in the world championship standings with no points.

Filed by Greg McKevitt

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