FORUMula1.com - F1 Forum

[EwanM]

Virgin make bid to buy Honda F1

Richard Branson has Honda Formula One team in his sights
Honda has confirmed Richard Branson's Virgin Group have made a bid to purchase its Formula One team.

The Japanese carmaker hopes a deal can be made in time for the start of the 2009 season in Australia on 29 March.

It is thought the team is up for sale for £1 - although any buyer would need to find a budget in the region of £40m to run the outfit for the new campaign.

"We are negotiating with several buyers and one of these parties is the Virgin Group," a Honda spokesman stated.

Honda pulled out of Formula One and put the team up for sale in December because of the effects of the global economic crisis. 606: DEBATE
I'd imagine Branson would leave the running of the team to those who actually know what they are doing

leesharpuk1984

Since then the leading contender was rumoured to be a planned management buyout led by the team's current chief executive Nick Fry, principal Ross Brawn and three other senior Honda Racing executives.

Branson has been involved with F1 before to a minor extent, his Virgin Mobile company sponsoring the Jordan team in 2002.

Virgin Atlantic Japan have also been personal sponsors of Honda-backed Japanese driver Takuma Sato for the past four years.

The decision could be a major boost for the career of British driver Jenson Button as well as the jobs of the team's 700 employees.

Honda first competed in F1 in 1964 and has clocked up three Grand Prix wins as a full works team.

Its engines have also been behind dozens of victories by stars such as world champions Ayrton Senna and Alain Prost.

http://news.bbc.co.uk/sport1/hi/motorsp ... 896784.stm


IT'S ON!

Beardy Branson comes good

[bud]

Thats great news Hopefully the deal gets done!

[Dutchcruijff]

Does anyone know a rough estimate of the number of jobs that could be saved by this move?

[McLaren Fan]

Virgin Atlantic Japan have also been personal sponsors of Honda-backed Japanese driver Takuma Sato for the past four years.

No doubt Sato or his manager will have been on the phone already to Branson. "Please give me a drive". Piss off!

[scotty]

Does anyone know a rough estimate of the number of jobs that could be saved by this move?

I think it's in the region of 700...

[texasmr2]

Good news and I hope they take control of the team as it would be a shame to lose them. There may still be some jobs that are cut but maybe only a small portion of the originaly estimated 700, all we can do is wait and see.

[Gaz]

so hopfully Virgin F1 on the grid for 09

[Hanwombat]

Richard is truly taking over the world, I wish hed make his Virgin Voyager trains more spacious!!!

[Gaz]

Richard is truly taking over the world, I wish hed make his Virgin Voyager trains more spacious!!!

i think there brilliant on the rare ocasion i get the train its always much better getting a virgin train rather than the transpennine poo we get.

[Hanwombat]

Richard is truly taking over the world, I wish hed make his Virgin Voyager trains more spacious!!!

i think there brilliant on the rare ocasion i get the train its always much better getting a virgin train rather than the transpennine poo we get.

Transpennine are poo too

[Gert]

If I was Honda I might be inclined to ask well known publicity freak Richard Branson to pretend to make a bid for the team in order to kick the arses of the other bidders into showing me their cash.

That said I'd like to see Virgin on the grid.

"Jenson comes 1st in the Virgin" - dirty snigger

[EwanM]

"Jenson comes 1st in the Virgin" - dirty snigger

Oh dear Was only a matter of time

[Dutchcruijff]

"Hamilton is having real trouble with that Virgin"
"Button has no control over the Virgin whatsoever"

[Rivelution]

Absolutely amazing I hope he doesnt give up if they have a rough season. Hopefully they can be the new Jordan.

[EwanM]

"The Virgin is on the Pole."