Black Day For Malik.
Formula One's only black team boss, Prince Malik, has been forced to resign from his Arrows' directorship.
The Nigerian, who joined the team over the winter as part of a rescue package, has come into increasing conflict with fellow owner Tom Walkinshaw and other members of the board after failing to bring further sponsorship to the team. His much-hyped 't-minus' branding has not been as successful as Malik would have wished, and the team continues to struggle at the back of the grid.
Formula One's only black team boss, Prince Malik, has been forced to resign from his Arrows' directorship.
The Nigerian, who joined the team over the winter as part of a rescue package, has come into increasing conflict with fellow owner Tom Walkinshaw and other members of the board after failing to bring further sponsorship to the team. His much-hyped 't-minus' branding has not been as successful as Malik would have wished, and the team continues to struggle at the back of the grid.
Although the prince continues to hold a ten per cent shareholding within Arrows, he resigned from the board of directors yesterday [Tuesday]. Morgan Grenfell Private Equity, the finance company which helped Malik rescue the team before the 1999 season, continues to hold its original 45 per cent stake, and has confirmed its support for the operation.
