Phoenix Finance's Failed F1 Entry
A consortium fronted by Phoenix Finance — run by Charles Nickerson, a friend of Arrows' Tom Walkinshaw — purchased the team's assets, believing that together with their purchase of old Arrows assets, specifically the engines, it would gain them entrance for the 2003 season. However, the FIA viewed the consortium as a new entry (subject to an entry fee) and the project did not go ahead.
Read more about this topic: Prost Grand Prix
Famous quotes containing the words phoenix, finance, failed and/or entry:
“A victorious tomcat is like a tiger; a plucked phoenix is not worth a chicken.”
—Chinese proverb.
“There is an enormous chasm between the relatively rich and powerful people who make decisions in government, business, and finance and our poorer neighbors who must depend on these decisions to alleviate the problems caused by their lack of power and influence.”
—Jimmy Carter (James Earl Carter, Jr.)
“The contented and economically comfortable have a very discriminating view of government. Nobody is ever indignant about bailing out failed banks and failed savings and loans associations.... But when taxes must be paid for the lower middle class and poor, the government assumes an aspect of wickedness.”
—John Kenneth Galbraith (b. 1908)
“When women can support themselves, have entry to all the trades and professions, with a house of their own over their heads and a bank account, they will own their bodies and be dictators in the social realm.”
—Elizabeth Cady Stanton (1815–1902)