Engine starts but won't drive.

Hi there,

We have a 89 535i Msport automatic and after my partner being a bit silly
over Xmas he wanted to do a burnout, it wouldn't work so he
parked it up again. Next time he started it it would only reverse
but not move, only rev, when in drive, 1st,2nd or 3rd gear.
Now the "Trans program" message keeps coming up when reving
to a certain point.

Any ideas what's wrong?? Do you need more info?
Sorry, never owned a BMW and new to forums also couldn't
find an answer online anywhere.

Thanks heaps.