Super Aguri Exit F1 - 6th May 2008 10:42am
Originally Posted by BBC News
The Super Aguri team have withdrawn from the Formula One World Championship because of a lack of funding. The Japanese team have wound up their racing activities with immediate effect and will not compete at this weekend's Turkish Grand Prix.
Super Aguri have been struggling for survival since the collapse of a takeover deal by the Dubai-based Magma Group in April. It means British driver Anthony Davidson is now without an F1 drive.
Team founder Aguri Suzuki, who broke the news in Japan, said: "Regretfully I must inform you that the team will be ceasing racing activities. The loss of financial backing put the team into financial difficulties.
"With the help of Honda, we somehow managed to keep the team going, but we find it difficult to establish a way to continue the activities in the future so I have concluded to withdraw. I have been very happy that I was able to achieve a miracle and become a team owner."
Super Aguri have been struggling for survival since the collapse of a takeover deal by the Dubai-based Magma Group in April. It means British driver Anthony Davidson is now without an F1 drive.
Team founder Aguri Suzuki, who broke the news in Japan, said: "Regretfully I must inform you that the team will be ceasing racing activities. The loss of financial backing put the team into financial difficulties.
"With the help of Honda, we somehow managed to keep the team going, but we find it difficult to establish a way to continue the activities in the future so I have concluded to withdraw. I have been very happy that I was able to achieve a miracle and become a team owner."
All credit to Honda for assisting the team so much to help it stay in the sport, but how many more small team's are going to go bust before it becomes just a 4 or maybe 5 team sport?
BBC News Report