AUGUST 28, 2002

Arrows announce pending sale

Arrows Grand Prix has released a statement today announcing that a letter of intent regarding the purchase of the team has been signed.

Arrows Grand Prix has released a statement today announcing that the race team has been sent to Spa for this weekend's Grand Prix, and that a letter of intent regarding the purchase of the team has been signed.

Although the identity of the new owner has not been revealed, the team has announced that it is an "American investor". The team hopes to complete the deal by Friday.

With all the uncertainty surrounding the team, the news will be a relief for all those employed by the team.