Thursday March 7th, 2002

By Will Gray

The new 'Phoenix' Grand Prix team will not be able to pay their way out of trouble if the FIA decide their entry is not valid.

It had been reported that businessman Charles Nickerson, who has bought assets from Prost Grand Prix, would be able to pay the £30 million entry fee and immediately get on the grid if the FIA declared the entry he is believed to have bought from Prost invalid.

But a source at the FIA has revealed that "they cannot enter this year because the entries closed in November. They could apply for entry in 2003 and then maybe he could, but he would have to pay the bond for the place on the grid."

However, Nickerson is currently hiring two Prost AP04 chassis for the remainder of this season as part of his deal with the French team's liquidators. It is understood that there had been discussions between all parties prior to the deal and it is unlikely that Nickerson would have bought the team without ensuring his right to race.

But the source from the FIA simply said: "It is nothing if not complex. I have had one or two letters from Nickerson's associates but we cannot do anything without the official confirmation from the liquidators."

Published at 16:20:26 GMT