Honda set to reveal F1 exit plans

[VTEC@14.7psi]

http://www.autosport.com/news/report.php/id/72319

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Formula One is bracing itself for an announcement by the Honda Racing team on Friday morning that could pave the way for one of grand prix racing's biggest names to exit the sport.

Amid the worldwide financial downturn and the impact that has had on Honda's car sales, it is understood that the Brackley-based team's future is now in serious doubt.

Insiders have told autosport.com that the team's senior staff were called for 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 - and if no buyer is found by March then the manufacturer will simply pull the plug and withdraw from the sport.

Amid the current financial climate, it is unclear where Honda Racing would hope to find a buyer willing to support a Formula One team - with budgets already in excess of £100 million per year.

There are suggestions, however, that Honda may be willing to offload the team free of charge to anyone willing to support it - and they could even 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 Ferrari for power-units should a buyer be found - with the Italian manufacturer having spare capacity now after ending their 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 Japanese bosses - and especially define what happens if no buyer is found.

Honda Racing remained silent about the speculation on Thursday evening, with neither press officers 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 their 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' longterm 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 the grid being reduced to just 18 cars, and would leave drivers Jenson Button and Rubens Barrichello without seats.
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oh shit

[Kenshin3180]

Noooooooo!

Breaks my heart

[AusAccord]

oh, not interest in F1 anymore if Honda is gone

[EuroAccord13]

Pulling out could save the company a lot of money, not necessarily a bad thing considering the F1 team is not doing really well, they will never be able to bring themselves up to their former glory of the 60s and 70s.

That being said, I feel sad for Button and Chello for losing their contracts should Honda cane the F1 team.

[SHOGUNOVDDRK]

mmm this doesn't make me happy but at the same time i want to say "FINALLY!!!!"

[Dxs]

are honda's sales really that bad globally? have they dropped a lot


it seems weird that it looked like a team with a lot of money and a lot of focus for next year,
getting braun etc.. focusing on the 09 car in early 08

now before it is even 09 they are looking at exit options?

[Dxs]

they will never be able to bring themselves up to their former glory of the 60s and 70s.

they were 2nd in the WCC in 2004

working on the car for 09 in early 08.. have braun as tech director..

maybe their car is still uncompetitive (fundamental lack of design ability).. and are just going to pull out..


everyone was looking at honda as the potential dark horse for 2009

[Zdster]

Pulling out could save the company a lot of money, not necessarily a bad thing considering the F1 team is not doing really well, they will never be able to bring themselves up to their former glory of the 60s and 70s.

That being said, I feel sad for Button and Chello for losing their contracts should Honda cane the F1 team.

I agree. It is not like they are winning every race they enter. I think that Button will be picked up by someone though.

It will be interesting from a marketing perspective however, as Honda has pushed the fact that their cars are built on the back of their racing background.

[Zdster]

are honda's sales really that bad globally? have they dropped a lot

It might not be that their sales have fallen that much, but rather the forecasting and the massive outlay does not equate to value anymore.

[votek]

but isnt their slogan. if honda does not race then there is no honda


o.O

[SPEEDCORE]

but isnt their slogan. if honda does not race then there is no honda

If Honda has no money.... there is no honda!

Philosophical quotes are awesome.....

They should just go back to being an engine provider and forget about their own team.

[SHOGUNOVDDRK]

not forgetting Honda also races Indy and Bikes...