Today (November 15) is crunch day for the cash-strapped Formula 1 Arrows Racing Team, which must pay up to keep its place on the starting grid or face disqualification.

The company, which employs 250 people in Leafield, near Witney, must produce a £200,000 entry fee for next season's competition by the end of the day. Even if it does come up with the cash, it is not guaranteed a place at the start of the 2003 season in Australia in March.

The sport's governing body, the FIA, could still bar Arrows' entry if it felt that the team would repeat its dismal performance of 2002, when it failed to show for five races. The team has applied to be put into administration while it finalises a rescue deal.