(Nov 21) tsn.ca - A Quebec-based group is reportedly close to buying the financially troubled Prost Formula One team.
According to formula1.com, Philip de Laey - whose family owns a controlling interest in beer giant Interbrew - is close to finalizing a deal for the French-based F1 team.
Interbrew is well known to Canadians as the brewer of Labatt's, which was a one-time sponsor of the Williams F1 team in the 1990's.
A source tells formula1.com that de Laey has the suppport of the provincial government in Quebec, who are prepared to put up "substantial loan guarantees or sponsorship" in exchange for a possible stake in the team.
It's believed that should de Laey take control of Prost F1, the business side of the operation would be based out of Montreal while the technical operations would remain in Guyancourt, France.
Meanwhile, a separate report out of France says the Prost team will file for bankruptcy as soon as Thursday. LCI claims the team has debts totalling more than $42-million US.
Prost has acknowledged that the financial troubles within the team are serious, adding that the global economic slowdown has done little to improve the situation. The former world champion skipped the final F1 event in Japan in order to meet with potential sponsors for the team.
Prost has denied speculation that his engine supply deal with Ferrari is in jeopardy due to the hefty $25-million US fee to use the powerplant.
I remember a year or two ago this rumour popped up, I'm not sure if it was the same company; But it was definetly a Canadian group interested in buying a large stake in Prost. But to anyone else, Does this rumour have any force behind it? or is it just idle thoughts from a bored reporter?
I myself would like to see a Canadian company in, but then again I might just be a little biased. (Go Canucks! Go!)
