As the seasons went on Arrows started to go in debt. In 2002 at times the two drivers, Heinz-Harald Frentzen and Enrique Bernoldi deliberately failed to qualify for a couple of races in an attempt to save some money. The team could not finish the season and went into liquidation and folded at the end of the season. However, Phoenix Finance purchased the team's assets and tried to enter in the 2003 season but was not allowed. 