Super Aguri buyout collapses

Super AguriSuper Aguri have released a statement confirming that their potential purchasers the Magma Group, have pulled out of the planned acquisition. The team have also confirmed that current team principal Aguri Suzuki is continuing his negotiations with other potential purchasers.

The Magma Group, representing Middle Eastern investors Dubai International Capital, revealed to Suzuki earlier today that they no longer wished to purchase the Japanese F1 squad. The news means that the future of Super Aguri in Formula 1 is now in jeopardy.

A statement from Super Aguri read, “Super Aguri F1 team confirms that it has been informed by Magma Group, the potential purchasers of the team, that it s 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.”