The Formula One grid was reduced to 10 teams when Arrows was left off the 2003 entry list today. Last season Arrows missed six of the final seven races and they have been reported to be nearly bankrupt.
The FIA said in a brief statement that Arrows had applied to compete next year “but was declined for reasons which have been communicated to the Arrows team.”
In theory Arrows could still enter next season as a new team but in reality there is not much chance of this happening as they would then be required to pay an entry fee of around $48 million.
Tom Walkinshaw has been trying to sell the Arrows team for months but the loss of their grid position for next year and their ongoing legal problems will almost certainly be the final nails in their coffin.