Arrows boss Tom Walkinshaw has used some of his own personal £100m fortune to ensure his team can compete in today's qualifiying session for the British Grand Prix at Silverstone. The future of Arrows was uncertain over the past 48 hours as the Scotsman battled to find the money to pay off the the £3.2million owed to engine suppliers Cosworth. Yesterday, his drivers, Heinz-Harald Frentzen and Enrique Bernoldi sat out the free practice sessions as the electronic control units which run the engines had been removed from their cars by Cosworth personnel.
However, Walkinshaw has ensured Arrows will continue in Formula 1 for now by paying off the debt with his own money and he has vowed that Arrows will not end up on the scrapheap like Prost. His own long-term involvement is not so certain.
"We have sorted out the engine situation. The money for the engines I have paid for myself. We will be qualifying and racing at this British Grand Prix. We are in negotiations with three different parties interested in acquiring the team as a whole or partial investment. Those negotiations will be ongoing over the next few weeks as we had confirmation from two of them, that despite all the problems, they wish to continue. I am not going to disclose who those people are, but they have real substance behind them. I would be optimistic the future of Arrows is secure. Whether I will be part of it or not, I am not so sure," he explained.
Filed by Amanda Fennelly
