TWR To Buy Prost ?

[Craig]

I have heard from a trusted source that TWR are about to take over the Prost team. At this time it is unknown if this is a move to run four cars, or if they are simply after the assets of the team.

[paulzinho]

Interesting idea.

But wouldn't they have to effectively work as separate entities given the rules?

EG Teams designing and building their own chassis.

Are 4 car teams even allowed?

[Maxmil]

There are two stories today at gradprix.com to this effect. They say the Court agreed to sell for a fraction of the value of the debts. The site also speculates that Arrows itself is in financial difficulties. There is definitely more to this than meets the eye.

[Valve Bounce]

You see - the hex works

[av8rirl]

Hope it works tomorrow in qualifying and Sunday in the race. Are you going to the race VB?

[Valve Bounce]

No!! I am in Brisbane and the race is in Melbourne. There are some things here that prevent me from going down there for the meet - not the least is the air fares and accomodation, and granstand prices. I hope to move to Melbourne next year and then I will be OK.

[EERO]

Suggestions seem to be that TWR will seperate from Arrows, and Tom ends up with the old Ligier Team (again)

Rumours put Jos in a TWR (last years' Prost chassis ) with an Arrows engine. (Remember them?)

[senna12]

Well, having read the article, it looks like it's strictly a chance to pick up some equipment for cents on the dollar, since he has apparently managed to exclude the debt and most employees in this deal.
It's amazing how a guy generally regarded as an ******** can pull off deals like this, must be a lot more to TW than meets the eye. Then again, he's been around for quite awhile, and probably has connections we know nothing about.

[racer69]

There could be a bit of truth in this. Remember Red Bull wants to buy an F1 team and have American drivers, maybe they will buy it off Tom and he will go and buy Ligier/Prost.

Have to admit Tom is spending up big lately, investing into the Russian GP track, Cosworth engines, no wonder he is rumoured to be in trouble.

[mjstallard]

Guys 'n gals, it's confirmed!

http://www.itv-f1.com/news/news_story/9373

Arrows boss Walkinshaw has denied he is responsible for the buy-out but he admits TWR are involved. He said: "TWR (Tom Walkinshaw Racing) is going to be supporting the engineering side of it but the principals behind it will announce the whole thing when they're ready."

When quizzed on whether he had stumped up the cash, Walkinshaw said: "There's other people who've done that but we're supporting them with a whole load of the engineering backup from TWR to get it up and running and do it properly."

[EERO]

Its interesting that Paul Stoddard ir rumoured to have had an interest and was beaten out by the currently silent partners.

It's doubtful that they'll make the grid before Imola and thus accrue all manner of penalties for "not showing", plus there's a $48,000,000 payment t the FIA as a retainer.

My guess is that its a joint venture of Mateschitz, Pollack and Cheever.

[BBKing]

How are they going to call it? Prost Phoenix?....LOL

[drexel]

Minardi boss furious over Prost sale

March 1 2002

A furious Minardi team owner Paul Stoddart today slammed a decision to sell the liquidated Prost Formula One team to Arrows boss Tom Walkinshaw for a paltry 2.5 million euros ($A4.22 million).

Stoddart described the move as "an absolute travesty of justice" and said he would fight to have it reversed.

It was reported overnight that the Tribunal de Commerce in Versailles had agreed to sell the Prost F1 entry to Tom Walkinshaw Racing.

The deal included the 2001 cars and the intellectual property rights to the 2002 car, according to the website grandprix.com.

The decision came despite a court previously rejecting offers for Prost of tens of millions of dollars.

It was also believed that Walkinshaw would not be responsible for the debts incurred by Prost, nor the fate of around 180 employees who will be made redundant.

At stake for Stoddart was millions of dollars due to Minardi as the 10th team.

The top 10 teams are allotted travel and other expenses.

Prost would have been the 10th outfit but its demise meant Minardi replaced it.

Stoddart was today hastily trying to arrange support from the other team owners after saying the move violated the Concorde Agreement governing the sport.

I think when scrutineering commenced here yesterday at 10am, then under the Concorde Agreement, Prost Grand Prix team's right to exist ceased because they were then a team failing to turn up to an event whilst insolvent," Stoddart said.

"That is a statement of fact - not disputable in law.

"To me liquidation is and always has been the final chapter in a company's history, therefore it can't come back from the dead unless all the creditors are paid and unless all the employees are paid.

"This seems to me that they've all been f-cked over...and why am I not surprised - look at who's name's attached to it.

We are going to have to fight. We believe this will not be allowed to go ahead because if it did it would wipe out the assets you attach the the entry of every team in this pit lane.

"I'll be surprised if I'm the only team who thinks that this is absolutely outrageous.

"I'll be gutted if we don't have a bunch of team principals united on this point."

Stoddart claimed the move had cast a cloud over the image of F1.

"Another part of the Concorde Agreement, of course, is bringing Formula One into disrepute. I've never seen a clearer case of this in my life," he said.

"It goes on further, I mean, what are the motives behind it?

"I've got to watch what I say...all I would say is let people have a look at the Arrows accounts and they might draw their own conclusions."

He was convinced that the court decision could be overturned.

"I've had five separate opinions, one from a QC in London - the Concorde Agreement is governed by English law - two barristers, English, and two French lawyers," he said.

"All five opinions say that what has taken place during the night is not able to be legal."

[Valve Bounce]

Curioser and curioser. I, for one, don't believe that TWR willl get a single one of those cars onto the grid this year.

[Nicholas]

I think when scrutineering commenced here yesterday at 10am, then under the Concorde Agreement, Prost Grand Prix team's right to exist ceased because they were then a team failing to turn up to an event whilst insolvent," Stoddart said.

I don't think that's true- if they turn up this year they'll just have to pay massive fines, that's all. And anyway, if it's illegal, why was he trying to get the assets?

I suppose it's fair enough that he's complain because it means he loses the 10th team travel benefits. If "Prost" did turn up this year I don't think they should keep their benefits from last year (just to please Minardi )

BTW, are the car numbers leaving a gap for Prost (ie Minardi gets 22 and 23)?

[Red]

Originally posted by nicholaswhite
are the car numbers leaving a gap for Prost (ie Minardi gets 22 and 23)?

Yes. And Toyota are 24 Salo and 25 McNish.

[AndyF]

I also reckon nothing will come of this!!

[ghinzani]

I think its got to be Red Bull money hasnt it? Expect to see Scheckter in there, if he can get the car outta Milton Keynes red light district..... apparently they have entries for malaysia for mazzacane and enge!

[av8rirl]

That pr*ck TW, he's up to his neck in the sh*t... Come on VB, make that hex work!!!

From the press articles that are being published, it looks like the deal is done and that it is a matter of fact that the old Prost team will be competing from Brazil (definite) and maybe Malaysia. The only thing stopping them might be an injunction which Paul Stoddart is seeking.

[Valve Bounce]

OK, I will double the hex, and I already have the chicken bones pointing in the direction of TW. I will try to get goana bones next week and that will really make him sick.

[racer69]

I thought there were rules against owning two teams, and seeing as they have missed the first round of the season, they shouldn't be able to get the bonus's.

Having said that, Stoddard would have budgeted surely for not getting the TV bonus's, as Prost's demise was only announced late in the day.

Also, what would he have done with the team had he got it, he surly wouldn't have raced it, maybe just more cars for his collection.

[cos]

Don't forget Craig Pollock is still around looking for a team to run, and one site says that Skoda are possibly behind the buy out!!
Also Autosport says that entries have been submitted for Malaysia with Enge and Mazzacane as the drivers.

[Kalevi]

From F1jordan.com:

...At a Friday evening press conference, Walkinshaw confirmed he had been involved in making the purchase on behalf of an un-named consortium. He plans to run last year's Prost chassis with the 1999 Arrows engines. The team's drivers will be Gaston Mazzacane and Tomas Enge. On paper it seems like the sort of package that might find meeting the 107 percent rule in qualifying rather difficult to cope with. If the deal can be sorted in time the new team could appear in Brazil or Imola...

Needs a LOT of smooth talking to get those machines in the race.

[Super Tourer]

Looks like a lot of expense to get nowhere....maybe they do have to race to keep the entry, therefore going the route as described.

I agree with those that reckon the 107% rule would be their biggest challenge. An old dog like the Prost chassis powered by an even older cosworth tugger - doesn't sound a recipe for success.....

[Valve Bounce]

Stoddart will do his best to put an injunction against this deal. Furthemore, if there was an engine that was worse than the Fondmetal lump at the back of the Minardi last year, it was the Asiatech. Now, getting a new chassis and trying to marry a different engine to it will not be an overnight achievement. New suspension components need to be designed, then tested. I think TW is trying to get somebody else pay him big bucks for the old Prost team. This sounds like a guy buying something cheap at an auction hoping to onsell it for a quick profit. However, if TW cannot get the team onto the grid and it goes kaput, he really hasn't lost much money, and probably none of it is his anyway. This whole thing smells fishy, and I don't think there is any real intent to put the old Prost team onto the grid.