Arrows: We have entered 2003 championship.

The troubled Arrows Formula One team claim to have met the FIA deadline and submitted an official entry for the 2003 World Championship.

In order to compete in next year's championship the Oxford based team had to find ?200,000 by yesterday's [Friday] deadline.

They were also required to state their intended title sponsor, drivers and engine manufacturer - this they also claim to have done despite having lost Ford/Cosworth engines, title sponsor Orange and lead driver Heinz-Harald Frentzen.

"We have entered," a team spokeswoman told Reuters on Friday. "The entry has gone in."

However, there has been no official word from the FIA to confirm the submission, although F1's governing body has previously stated that the other 10 teams had already entered.

Tom Walkinshaw's team missed the final five races of the 2002 season after hitting financial problems but claim to be on the verge of announcing a rescue deal.

"Arrows has agreed and signed contracts with German based investors for the introduction of substantial new equity into the team," said Arrows in a statement released on Tuesday.

However, this season has seen Arrows try various desperate 'tricks' to keep their Formula One entry intact - including running just one slow qualifying lap at the French Grand Prix.

The team members and fans will hope that this latest statement is a real sign of the stalemate finally ending...