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[f1-gp_info]

I think it is quite likely that Honda will have a Middle East owner.

There is somewhat of a competition in the region about who will organise the best F1 race and it seems just a matter of time before it turns into 'who has the best F1 team in the Middle East' as well.

[headless]

F1 is looking to be going into a really, really bad state.

[FJuan]

I think it is quite likely that Honda will have a Middle East owner.

There is somewhat of a competition in the region about who will organise the best F1 race and it seems just a matter of time before it turns into 'who has the best F1 team in the Middle East' as well.

I agree.
If one team is owned by someone in the Middle East, then others may follow.

[EwanM]

I think it is quite likely that Honda will have a Middle East owner.

There is somewhat of a competition in the region about who will organise the best F1 race and it seems just a matter of time before it turns into 'who has the best F1 team in the Middle East' as well.

I agree.
If one team is owned by someone in the Middle East, then others may follow.

And just like in the English Premiership - it would make the financial times for the teams even less secure.

[Gert]

Nothing new in the idea that F1 teams are the toys of rich playboys - the name Hesketh springs to mind, amongst others - so if the money is in the Mid East why shouldn't the teams' owners be there?

Note too that 1 of McLaren's major long term investors had his origins in that part of the world.

[darwin dali]

F1live:
"Honda will be no great loss," he said at the London boutique Moussaieff, where his daughter Tamara was unveiled as the new 'face' of the jeweller.
Ecclestone, 78, added: "Just look at where they finished in the championship - ninth. They wasted millions and were a bad example to other teams."

"In Formula One, teams come and go. It's not the end of the world. Only Ferrari has been there since the start."

"Now they've gone, we've got a chance to bring in some sense to the teams about how much they should spend."

The Daily Telegraph newspaper said Ecclestone believes a new buyer of the Brackley team will be announced next week.

He said: "I'm keen for the team to be kept in place. We have whittled it down to three serious potential buyers."

Meanwhile, former champion Sir Jackie Stewart believes the global slump in car sales is not the only reason for Honda's decision to part.

"I don't think Honda would have closed down their operations if they had finished third or fourth rather than ninth in the constructors' championship," the Scot told The Herald.

[darwin dali]

Britain's The Times newspaper, citing 'industry experts', estimates the bill could near $150 million unless a buyer can quickly be found.

Compensation for driver Jenson Button's recently-signed new multiple year contract may be more than $35m, while Honda would have to fund redundancy packages for Brackley's 700 staff.

Should a buyer not be found, Honda will also have to fund the disposal of the high-tech F1 factory, and then deal with the consequences of the termination of dozens of supplier contracts.

"Five years from now, I think history will show we made the right decision," Honda Motor Company President Takeo Fukui said.

[Gaz]

Britain's The Times newspaper, citing 'industry experts', estimates the bill could near $150 million unless a buyer can quickly be found.

Compensation for driver Jenson Button's recently-signed new multiple year contract may be more than $35m, while Honda would have to fund redundancy packages for Brackley's 700 staff.

Should a buyer not be found, Honda will also have to fund the disposal of the high-tech F1 factory, and then deal with the consequences of the termination of dozens of supplier contracts.

"Five years from now, I think history will show we made the right decision," Honda Motor Company President Takeo Fukui said.

LOL hardly worth quiting considering the credit crunch could be over with in a year they are saying.

Honda must really be in a bad way which isn't suprising consideirng GM and Chysler are potentionaly going backrupt.

[bud]

there is hope......



Zoom
PSA to take over the Honda F1 team?
The French manufacturer PSA, selling cars under the names Peugeot and Citroen, has reportedly expressed interest in buying Honda's beleaguered Formula One team.

Anonymous sources apparently told the Belgian motor racing magazine Autosportnieuws that the carmaker, last involved in F1 as an engine supplier with the now-defunct Prost team, has made enquiries to buy the Brackley based team as an active F1 competitor.

Citroen's world rally team is the reigning drivers' and constructors' champion, and Peugeot is involved in Le Mans racing.

It is suggested that, given F1's willingness to vastly reduce operating costs, PSA is interested in stepping because it has not been hit as hard by the world economic crisis than some of its peers abroad.



The French government is also pledging financial support to the car sector, in return for Renault and Peugeot-Citroen promising to limit job cuts and plant closures.

It is suggested that Sebastien Bourdais, the French F1 driver whose Toro Rosso seat is in doubt for 2009, would be part of a PSA buyout, with Jenson Button as his team-mate.

[Gaz]

there is hope......



Zoom
PSA to take over the Honda F1 team?
The French manufacturer PSA, selling cars under the names Peugeot and Citroen, has reportedly expressed interest in buying Honda's beleaguered Formula One team.

Anonymous sources apparently told the Belgian motor racing magazine Autosportnieuws that the carmaker, last involved in F1 as an engine supplier with the now-defunct Prost team, has made enquiries to buy the Brackley based team as an active F1 competitor.

Citroen's world rally team is the reigning drivers' and constructors' champion, and Peugeot is involved in Le Mans racing.

It is suggested that, given F1's willingness to vastly reduce operating costs, PSA is interested in stepping because it has not been hit as hard by the world economic crisis than some of its peers abroad.



The French government is also pledging financial support to the car sector, in return for Renault and Peugeot-Citroen promising to limit job cuts and plant closures.

It is suggested that Sebastien Bourdais, the French F1 driver whose Toro Rosso seat is in doubt for 2009, would be part of a PSA buyout, with Jenson Button as his team-mate.

Rather seen Aston Martin/Prodrive with Richards at the helm and Senna/Button driving

[McLaren Fan]

From F1 Live:

The French manufacturer PSA, selling cars under the names Peugeot and Citroen, has reportedly expressed interest in buying Honda's beleaguered Formula One team.

Anonymous sources apparently told the Belgian motor racing magazine Autosportnieuws that the carmaker, last involved in F1 as an engine supplier with the now-defunct Prost team, has made enquiries to buy the Brackley based team as an active F1 competitor.

Citroen's world rally team is the reigning drivers' and constructors' champion, and Peugeot is involved in Le Mans racing.

It is suggested that, given F1's willingness to vastly reduce operating costs, PSA is interested in stepping because it has not been hit as hard by the world economic crisis than some of its peers abroad.

The French government is also pledging financial support to the car sector, in return for Renault and Peugeot-Citroen promising to limit job cuts and plant closures.

It is suggested that Sebastien Bourdais, the French F1 driver whose Toro Rosso seat is in doubt for 2009, would be part of a PSA buyout, with Jenson Button as his team-mate.

Source: GMM
© CAPSIS International

Interesting. It would be certainly be great to see some proper French representation back in Formula One again.

[iPod]

Very interesting. I'm glad that Bourdais would get a seat. He definitely deserves it. I would also like to see Jenson get one last shot in a competitive car. I can't help but think we haven't seen the best of him.

Anyway, any ideas when the proposed buyer will actually buy the team? Or is it all just hear say at the moment.

[Rivelution]

That would be freakin awesome if this happened!!!!

[f1maniac95]

As long as we don't lose another team then I'll be happy and if Bourdais gets a seat next year.

[KyrosV]

would this move see Leob move to F1 too?

But in all seriousness I dont think they will buy honda. Maybe in a few years they will move there Le Mans team to building an F1 team.

My best bet is on Prodrive. Afterall they need a new top line project after Suburu have quit WRC