Arrows' fight for survival continues

Arrows lived to fight another day at the British Formula One Grand Prix, but the battle for long-term survival goes on.

Team boss Tom Walkinshaw used his own money to satisfy Cosworth at Silverstone last Friday after the Ford-owned company immobilised the team's engines until two months of arrears, around $4.7 million, were paid.

The respite allowed German Heinz-Harald Frentzen and Brazilian Enrique Bernoldi to race but the team still needs to find a saviour fast if they are not to become Formula One's second failure of the year after Prost.

Walkinshaw said last week that there were three parties interested in buying the team or making a partial investment and he was aiming to resolve the situation before the French Grand Prix at Magny-Cours on July 21.

He was confident the team would now complete the seven remaining races of the season.

"Tom has set his own deadline to get everything sorted by Magny-Cours," said a team source.

One known potential purchaser is current team sponsor Red Bull, the sports drink company run by Austrian Dieter Mateschitz.

But the London High Court, in a judgement in favour of investor Morgan Grenfell Equity Partners, last week prevented Walkinshaw from selling the team's Formula One revenue rights to Mateschitz's company.

Negotiations will continue this week and the next crunch date is likely to be July 17.

THRASHED OUT

Jaguar team boss Niki Lauda, who also oversees the Cosworth business, said the deal thrashed out with Walkinshaw at Silverstone aimed to ensure there was no repeat of that embarrassing 11th hour wrangling.

"We have a contract whereby there were monthly payments. The decision on Friday was to fix the past, which Tom did," the Austrian explained.

"Now we agreed that we get on the Wednesday before the race a cash downpayment for the outstanding money, so we do not find ourselves in the position like at Silverstone where we were fighting all Friday to get the money."

Asked whether he was confident that Cosworth would therefore be paid on schedule ahead of the French race, Lauda replied: "He (Walkinshaw) did pay at Silverstone so if he gets all his other problems sorted out, why not?"

Bernoldi, yet to score a point in 27 races with Arrows, sounded hopeful that a corner had been turned and he would be testing in Spain this week.

"I am supposed to test this week, if the test is happening, because we are racing," he said. "I heard that they are sure until the end of the season so I hope so."

A team spokeswoman said the testing in Valencia was confirmed for Wednesday, Thursday and Friday.

Arrows have never won a race in 381 attempts, a Formula One record, and have scored just two points this year.