A Prost Of A Chance
January 23, 2002 | 12:00 A.M. EST
After nearly a month of missed deadlines, rumors and waiting, Monday could be the day Alain Prost knows for certain whether his team will be at the season-opening Grand Prix of Australia on March 3.
Since announcing its financial woes late last year, the Prost Grand Prix team has reportedly been flooded with offers of help form various sponsors and companies, some viable, some not. All official inquiries from potential investors submitted their proposals to a judge by Jan. 15, a deadline set by the Tribunal de Commerce of Versailles.
“These proposals are similar in their characteristics implying a direct or indirect shareholding participation in the Prost Grand Prix capital and immediate funding allowing the team to honor all of its commitments,” the team said.
The court will review the proposals Thursday and Friday of this week, with a ruling expected early Monday. If the court rules the proposals to be insufficient in their pursuit of rescue, the court would declare liquidation of the company. However, if the Tribunal de Commerce of Versailles approves a proposal, a new shareholder will take its place with the company.
The Jan. 18 deadline looms large for many. Tomas Enge and Heinz-Harald Frentzen, who drove for Prost in 2001, are waiting to hear the team's fate. If the team stays in business and is able to compete in 2002, Enge and Frentzen will likely be its drivers, though no official announcement has been made.
However, if the team liquidates, Frentzen is rumored to sign with Arrows for the 2002 season.