Monday January 7th, 2002

The struggling Prost Grand Prix team could be on the verge of being saved by an unknown French investor willing to invest around €45 million ($40 million), according to a report by French news agency AFP.

The team of four-time World Champion Alain Prost went into receivership at the end of 2001, with debts of around $28 million, and a source close to the Guyancourt-based outfit told AFP that the Frenchman finally found an investor last week, who would become the main shareholder but who would allow Prost to remain as sporting director of the team.

Prost, whose teams finished in ninth place in last year's Constructors' Championship with four points, set a January 15 deadline to find a rescuer in order to be able to compete in the 2002 season.

The team are yet to confirm a Ferrari engine deal, which according to Prost is their only option to compete in this year's Championship, and their two drivers. Last week, around 200 employees and supporters of the team gathered in Paris to support the Formula One team's survival battle.

Published at 18:14:49 GMT

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