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
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