Ferry_vO
Retired SOH Administrator
http://formula-one.speedtv.com/article/f1-honda-tipped-for-withdrawal/
"Honda Racing is expected to make an announcement on Friday morning UK time that it is withdrawing from grand prix racing as a works team – and possibly shuttering its team outright.
Amid the worldwide financial downturn and the impact that has had on Honda’s car sales, it is understood that the Brackley, UK-based team’s future is now in serious doubt. Insiders have told autosport.com that the team’s senior staff were called to a meeting at the factory on Thursday afternoon and informed that Honda in Japan were no longer willing to bankroll the outfit.
It is suggested that the team will be put up for sale – as Ford did with its Jaguar team, subsequently purchased by Red Bull – but if no buyer is found by March then the manufacturer will simply pull the plug and withdraw from the sport. In the current financial climate, it is unclear where Honda Racing would hope to find a buyer willing to support a Formula 1 team with budgets already in excess of $140 million per year….
There are suggestions that Honda could be willing to offload the team free of charge to anyone willing to support it and that the manufacturer might be willing to continue to supply engines for a period of time until another technical partner is found. However, sources have suggested that team principal Ross Brawn is already eyeing a tie-up with his former team, Ferrari, for engines should a buyer be found. The Italian manufacturer has spare capacity now after ending its deal with Force India.
It is understood that Brawn and F1 CEO Nick Fry are scheduled to fly to meetings in Tokyo on Monday to discuss the future of the team with Honda bosses, and to define what happens if no buyer is found.
Honda Racing remained silent about the speculation on Thursday evening, with neither public relations staff nor senior team personnel available for comment. It is understood the staff informed of the decision were told not to discuss the matter prior to an official announcement being made.
It is expected Honda will issue a press release early on Friday morning revealing the company's plans. It comes after a challenging year for the team, which had begun a rebuilding process under the leadership of Brawn.
Any pullout by Honda Racing will send shockwaves through F1, and cast question marks over the future of other manufacturers’ long-term participation. It would also come several months after FIA president Max Mosley warned that the sport was unsustainable at the moment because of the high costs needed to compete. It would also mean a reduction in the size of the the grid to just 18 cars, and would leave drivers Jenson Button and Rubens Barrichello without seats, while removing what would appear to be Bruno Senna's best hope of moving up to F1 next year. "
:isadizzy: Definitely did not see this one coming.......
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"Honda Racing is expected to make an announcement on Friday morning UK time that it is withdrawing from grand prix racing as a works team – and possibly shuttering its team outright.
Amid the worldwide financial downturn and the impact that has had on Honda’s car sales, it is understood that the Brackley, UK-based team’s future is now in serious doubt. Insiders have told autosport.com that the team’s senior staff were called to a meeting at the factory on Thursday afternoon and informed that Honda in Japan were no longer willing to bankroll the outfit.
It is suggested that the team will be put up for sale – as Ford did with its Jaguar team, subsequently purchased by Red Bull – but if no buyer is found by March then the manufacturer will simply pull the plug and withdraw from the sport. In the current financial climate, it is unclear where Honda Racing would hope to find a buyer willing to support a Formula 1 team with budgets already in excess of $140 million per year….
There are suggestions that Honda could be willing to offload the team free of charge to anyone willing to support it and that the manufacturer might be willing to continue to supply engines for a period of time until another technical partner is found. However, sources have suggested that team principal Ross Brawn is already eyeing a tie-up with his former team, Ferrari, for engines should a buyer be found. The Italian manufacturer has spare capacity now after ending its deal with Force India.
It is understood that Brawn and F1 CEO Nick Fry are scheduled to fly to meetings in Tokyo on Monday to discuss the future of the team with Honda bosses, and to define what happens if no buyer is found.
Honda Racing remained silent about the speculation on Thursday evening, with neither public relations staff nor senior team personnel available for comment. It is understood the staff informed of the decision were told not to discuss the matter prior to an official announcement being made.
It is expected Honda will issue a press release early on Friday morning revealing the company's plans. It comes after a challenging year for the team, which had begun a rebuilding process under the leadership of Brawn.
Any pullout by Honda Racing will send shockwaves through F1, and cast question marks over the future of other manufacturers’ long-term participation. It would also come several months after FIA president Max Mosley warned that the sport was unsustainable at the moment because of the high costs needed to compete. It would also mean a reduction in the size of the the grid to just 18 cars, and would leave drivers Jenson Button and Rubens Barrichello without seats, while removing what would appear to be Bruno Senna's best hope of moving up to F1 next year. "
:isadizzy: Definitely did not see this one coming....... <!-- COMMENTS SECTION -->
