Sunday, December 28, 2008

Honda rescue close to being finalized

The following is are excerpts from a report on I have been burned once already thinking Super Aguri was going to be saved but then their world fell to pieces, so we will wait until ink is to paper.

Honda Racing are in talks with four potential buyers including wealthy Mexican businessman Carlos Slim, has learned, but no deal has yet been completed. Reports emerging out of South America on Saturday suggested that Slim, ranked as the world's second richest man behind American investor Warren Buffett, had actually finalised a contract to take over Honda.
Italian newspaper La Stampa also wrote that Slim had agreed a deal that would see the team line-up on the grid in 2009 with Jenson Button and Bruno Senna as their drivers.

Sources have told that there are four parties considering getting involved - with Slim believed to be heading the running at the moment. Although the identity of the buyers has not been confirmed, it is believed that apart from Slim they are Prodrive boss David Richards with the Kuwait-based Investment Dar Company (TID), Greek shipping magnate Achilleas Kallakis and an unidentified Swiss group.

As mentioned in a previous post, the purchase of Honda by prospective buyer David Richards of Prodrive would be rather ironic. Richards was the team principal of the previous iteration, BAR (British American Racing) from 2001 to 2004. Given that earlier this month Suburu has pulled out of the World Rally Championship it leaves some Prodrive employees looking for work within the company or elsewhere. Richards has stated that he will redeploy his WRC workforce. Suburu's decision has certainly freed up technical and intellectual resources at Prodrive that would make a Prodrive entry very logical provided there is money available from the Kuwait-based backers/partners. I wonder if Ferrari would still be looking to secure another engine deal or if Mercedes would look to revive a failed prospective deal with a previous Prodrive attempt in get into F1.

However, all signs point to Carlos Slim being the new owner of a Formula One team which is what was needed to save this race ready and experienced team from being liquidated.

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