From GMM
Honda Motor Company chief Takeo Fukui in Tokyo confirmed on Friday afternoon that the Japanese manufacturer is withdrawing from formula one ahead of the 2009 season. So what's next?
He said the decision was taken as a result of the prevailing conditions in the automotive sales sector, including a near-unprecedented decline of more than 30 per cent in its biggest market, the United States, last month.
Fukui also revealed that Honda will not even remain involved in F1 as an engine supplier, despite attempts to sell the Brackley based team as a going concern before the 2009 season commences in late March.
Instead, it is understood that Honda team boss and former Ferrari technical director Ross Brawn has arranged that a buyer of the Brackley outfit will be powered by 2.4 litre Ferrari V8s.
Nick Fry on Friday said he is confident Honda will find a buyer for the Brackley based formula one team and be on the grid as scheduled in Melbourne next March.
According to early speculation, one potential buyer of the team could be Dubai International Capital (DIC), which came close to buying Super Aguri when Honda pulled its support for the satellite team earlier this year.
Team chief executive Fry told the BBC: "In the last 12 hours, we've had three serious people come and suggest they'd like to buy the team."
Honda, although uncompetitive in the last two years, spent most of last season working on its 2009 car.
Honda is prepared to assume any debts, and sell the team as a going concern for a nominal sum.
photo:Honda
Honda Motor Company chief Takeo Fukui in Tokyo confirmed on Friday afternoon that the Japanese manufacturer is withdrawing from formula one ahead of the 2009 season. So what's next?
He said the decision was taken as a result of the prevailing conditions in the automotive sales sector, including a near-unprecedented decline of more than 30 per cent in its biggest market, the United States, last month.
Fukui also revealed that Honda will not even remain involved in F1 as an engine supplier, despite attempts to sell the Brackley based team as a going concern before the 2009 season commences in late March.
Instead, it is understood that Honda team boss and former Ferrari technical director Ross Brawn has arranged that a buyer of the Brackley outfit will be powered by 2.4 litre Ferrari V8s.
Nick Fry on Friday said he is confident Honda will find a buyer for the Brackley based formula one team and be on the grid as scheduled in Melbourne next March.
According to early speculation, one potential buyer of the team could be Dubai International Capital (DIC), which came close to buying Super Aguri when Honda pulled its support for the satellite team earlier this year.
Team chief executive Fry told the BBC: "In the last 12 hours, we've had three serious people come and suggest they'd like to buy the team."
Honda, although uncompetitive in the last two years, spent most of last season working on its 2009 car.
Honda is prepared to assume any debts, and sell the team as a going concern for a nominal sum.
photo:Honda