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[McLaren Fan]

From: F1 Live:

The agreed sale of Super Aguri to the Magma Group has hit trouble, reports on Wednesday said.

The British news agency Reuters said the Leafield-based team has received a letter from Magma, which is headed by Martin Leach, explaining that the expected backing had been held up.

We reported last month that the financial elements of the Magma deal were coming from a Dubai-based international investment company that is owned by the emirates' government.

Apparently promised by the Dubai group was $70 million in backing per year, for five initial years.

Super Aguri, until now heavily shored up by Honda backing, is not attending this week's major Barcelona test.

"This could mean that we don't go to the race," a source said, referring to the forthcoming Spanish Grand Prix at the same venue.


"Maybe we need a bit more backing from Honda to get us to Barcelona," he added.

The German magazine Auto Motor und Sport said earlier this week that Super Aguri was awaiting the signing of definitive contracts by the Magma Group, which was expected to occur in the coming days.

D.B. © CAPSIS International
Source: GMM

[Jensonb]

Sounds like Honda might have to bail them out by buying them and then sell them on once appropriate.

[bud]

Super Aguri F1 Team confirms that it has been informed by Magma Group, the potential purchasers of the team, that its investors no longer wish to fund the intended acquisition.

It is with deep regret that Aguri Suzuki is now forced to consider the future of the team, however negotiations with other parties continue.

The team will issue a further statement in due course.

Super Aguri statement

[Selcouth_Feline]

[Denthúl]

Hmm. Sounds just like what happened with the Midland Group and Spyker during their ownership of Jordan. They wanted instant results from a team that was second from the bottom. It's a real shame to see this happening, however with Mosley's future in question, it does bring one good possibility (even if it's not likely): Paul Stoddart's return to Formula 1.

[7UpJordan]

I wonder if Stoddy's in talks with Aguri-san right now? If he does buy out the team will he change the team into Minardi?

[Denthúl]

I wonder if Stoddy's in talks with Aguri-san right now? If he does buy out the team will he change the team into Minardi?

I would imagine that that would be a possibility. After all, he still owns rights to the name. But I wouldn't want that to happen, to be honest. I like Super Aguri as they are. And with the news that Toro Rosso will be up for sale by 2010, he might be tempted to hang on and buy that team instead. After all, they still have all the old Minardi facilities, which means they will be able to build their own cars. Super Aguri don't have that capacity at the moment. :/

Maybe EJ could stop playing wargames and buy them? Or Dave Richards?

[Jensonb]

Richards is my bet. But as Aston Martin Grand Prix or something.

[onelapdown]

This is very sad, but utterly predictable. Every time recession looms F1 teams bite the dust because the first thing companies cut back at times like these is their advertising budget. Dubai's sovereign fund managers know this which is why they've pulled the plug.

It'll be a real shame if Super Aguri do fall by the wayside. They way they got a team up and running from a standing start was nothing short of miraculous. Also both Sato and Davidson belong in F1 as far as I'm concerned.

[6thsecondfaster]

This is very sad, but utterly predictable. Every time recession looms F1 teams bite the dust because the first thing companies cut back at times like these is their advertising budget. Dubai's sovereign fund managers know this which is why they've pulled the plug.

It'll be a real shame if Super Aguri do fall by the wayside. They way they got a team up and running from a standing start was nothing short of miraculous. Also both Sato and Davidson belong in F1 as far as I'm concerned.

Sato should first learn to let people pass him when he is being lapped.

[Denthúl]

This is very sad, but utterly predictable. Every time recession looms F1 teams bite the dust because the first thing companies cut back at times like these is their advertising budget. Dubai's sovereign fund managers know this which is why they've pulled the plug.

It'll be a real shame if Super Aguri do fall by the wayside. They way they got a team up and running from a standing start was nothing short of miraculous. Also both Sato and Davidson belong in F1 as far as I'm concerned.

Sato should first learn to let people pass him when he is being lapped.

Meh. Blue flags and lapping aren't exactly a rule I agree with. Besides, Sato is quite often a really good driver. However, he can also be bad at times. He lacks consistency, much like JPM did.

[Selcouth_Feline]

It would be great if Stoddart took them over - he has already expressed an interest in Super Aguri

Just recently I looked at coming back through Super Aguri and I will probably look at it again if the opportunity comes. But the reality is it will be quite hard for me to come back if Max is still there.

As Max may get pushed (OK, maybe this is wishful thinking ), it's definitely feasible...

I feel really sad for Super Aguri - I've always felt they've had a lot of potential but with the financial woes that have plagued them both this season and last, they haven't really managed to realise any of their potential.

[Forti_Corse]

as much as id love to see the minardi outfit back into play, it wont happen, f1 is a much more dangerous game with money and only teams with cash shall survive, this is how it will work, financial backers will enter a team, last for 2 to 4 years and then get taken over by another and so-on. minardi simply would not survive long enough to give stoddart a good enough reason to gamble an entry. we all know the team was simply invincible to criticism and never gave up but things are much more serious in F1 now. i blame manufacturers entering with their major contributions and almost endless account balances

[bud]

Stoddy said he would only return if Max resigns, and i thought he was looking ar buying Torro Rosso, although im not sure what Burger is planning on doing.

[Denthúl]

I think Berger said he intends on keeping his share in the team. If it's 50/50 between him and Mateschitz, then that could pose problems if Stoddart wanted to rename the team, change the livery and sponsors etc. though I'm not sure he'd be too fussy about change, more about what it becomes. After all, Toro Rosso isn't really fitting if it doesn't have backing from Red Bull.