Formula 1
Prost's future still unknown
The future of Prost Grand Prix still remains uncertain and the team and fans will more than likely have to wait until the weekend to learn if Prost will be on the grid at Melbourne for the start of the 2002 season. Today was the date set by Prost ...
Edited: Apr 15, 2002, 11:45 PM
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The future of Prost Grand Prix still remains uncertain and the team and fans will more than likely have to wait until the weekend to learn if Prost will be on the grid at Melbourne for the start of the 2002 season. Today was the date set by Prost for a final decision, but none has been forthcoming.
The team had previously confirmed that a deal had been struck for Ferrari engines in 2002, providing they solve their financial problems - but the matter is as yet unresolved.
With debts thought to be in the area of US$28 million, Prost was put into receivership on 22nd of November 2001 by the court of Versailles. The team was granted until 15th January 2002 to resolve their problems by judiciary administrator Franck Michel. Prost revealed recently that they had submitted a rescue bid but the final verdict will not be clear for a few more days.
"The official receiver has had recently a proposal from a group which would put 46 million euros (US$41.07 million) into the firm to take care of immediate commitments and allow us to start the championship while waiting for new partners," Alain Prost said on Monday. "The proposal is being studied but the official receiver has the power to decide for or against. I remain hopeful...but I am also prepared for the worst."
The offer is believed to have been submitted by a group of industrialists and businessmen and there is no specific date for the receiver to make his decision. "We do not expect a decision or a declaration to come before the weekend, or the beginning of next week." A Prost spokesman said.
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