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Honda Quit F1 #273392
4th Dec 2008 9:58pm
4th Dec 2008 9:58pm
Joined: Aug 2004
Posts: 22,315
Moreton/Beirut/Mobile
MattLFC Offline OP
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MattLFC  Offline OP
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Originally Posted by BBC News
Honda will quit Formula One on Friday, BBC Sport understands.

The Japanese company hopes to sell its team, which costs 200m a year to run, but is prepared to close the team early in 2009 if no buyer is found.

Sources told BBC Sport the team were "optimistic" they would continue, but no investor had yet been found. However, according to the Reuters news agency, team bosses Ross Brawn and Nick Fry fear Honda could close the Brackley-based team within weeks.

According to a Reuters source, Brawn and Fry told a meeting of the Formula One Teams' Association: "They have a month to find a buyer, otherwise they are closing the team."

Honda, who recently cut road vehicle production as a response to the global economic crisis, are expected to make an announcement regarding the team's future at 0500 GMT on Friday.

A great team, even if not so good on the track, they basically kept the Super Aguri team afloat for months, which is something you would never see any of the big boy's do for another team.

Originally Posted by David Croft, F1 commentator, BBC Radio 5 Live
It's the start of the sport as a whole feeling the pinch. Bernie Ecclestone has some serious thinking to do.

F1's days, in its current format, are numbered imho. I rekon we may well see it inevitably end up very similar to the A1GP format in a few years.

BBC News Report

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Re: Honda Quit F1 [Re: MattLFC] #273394
4th Dec 2008 10:04pm
4th Dec 2008 10:04pm
Joined: Dec 2003
Posts: 8,019
my house
Sanchez Offline

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Sanchez  Offline

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my house
dont blame them, its shit.


Uncertainty or not knowing causes depression, Im happy because I know I'm going to die one day!
Re: Honda Quit F1 [Re: Sanchez] #273395
4th Dec 2008 10:07pm
4th Dec 2008 10:07pm
Joined: Aug 2004
Posts: 22,315
Moreton/Beirut/Mobile
MattLFC Offline OP
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MattLFC  Offline OP
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Moreton/Beirut/Mobile
Originally Posted by Sanchez
dont blame them, its shit.

withthat

Re: Honda Quit F1 [Re: MattLFC] #273405
4th Dec 2008 10:29pm
4th Dec 2008 10:29pm
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Posts: 167
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Rhobit Offline
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Rhobit  Offline
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Wow that's pretty shocking and not at the same time.

One would've thought that if any of the motor manufacturers could keep a team afloat it would be Honda frown

Re: Honda Quit F1 [Re: Rhobit] #273495
5th Dec 2008 2:33pm
5th Dec 2008 2:33pm
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MattLFC Offline OP
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MattLFC  Offline OP
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Confirmed:

Originally Posted by BBC News
Honda is pulling out of Formula One, blaming the world economic crisis for plans to sell its team.

The decision leaves Englishman Jenson Button and 2009 team-mate Rubens Barrichello without drives, with only a few mid-ranking seats still available.

Honda, which spent more than 300m a year on F1, said it would also no longer supply the sport with engines.

The team say they are optimistic they will find a buyer who will enable them to continue in the sport.

Chief executive Nick Fry said he has had three approaches already.

But a deadline of January has been set to find an investor and workers at Honda's Brackley base have been told to expect redundancy letters before Christmas.


Originally Posted by Takeo Fukui, President Of Honda
"Honda Motor Co. has come to the conclusion that we will withdraw from all Formula One activities, making 2008 the last season for participation," said Honda president Takeo Fukui at an emotional press conference.

"This difficult decision has been made in light of the quickly deteriorating operating environment facing the global auto industry... and the sudden contraction of the world economies," he added.

"Honda must protect its core business activities and secure the long term as widespread uncertainties in the economics around the globe continue to mount."

BBC News Report

Re: Honda Quit F1 [Re: MattLFC] #273511
5th Dec 2008 3:48pm
5th Dec 2008 3:48pm
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Gutted, plus they are closing the Swindon factory for 2 months next year. Will be interesting to see what car companies actually exist in 2 years. Obviously clever companies, such as Honda make these decisions far before they are needed.

It is a shame though because they had made big investments in the 2009 season. Wonder what will happen to their track.


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