JANUARY 12, 1998
No problems for Danka!
DESPITE a crushing drop in share price and legal actions against the company and its management Danka Business Systems - the title sponsor of the Arrows team in 1997 - says that it is planning to continue to support Tom Walkinshaw's team in 1998.
The American office machinery business says that the reason it was not listed on the official FIA entry list was because its agreement with Arrows allows the team to name a co-title sponsor in 1998 and negotiations are still taking place between the team and a potential title sponsor. Our sources suggest that this is a major international tobacco company.
Danka says that the collapse in the share price has resulted in shares being snapped up cheaply by big institutional investors who believe that the company will bounce back after its setbacks. The share price has climbed slightly in recent days but progress is slow.
Arrows is due to announce its full package for 1998 when the new car is launched early in February. The team is not planning to do any testing between now and then as there is little point in continuing with the old Yamaha-engined package. The new Brian Hart-designed Yamaha V10 has yet to be officially announced but Yamaha is expected to be the name on the cam covers of the engine.
|Print News Story|
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