Honda quiting F1
#1
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Honda quiting F1
Finally tossing in the towel
http://formula-one.speedtv.com/artic...or-withdrawal/
http://formula-one.speedtv.com/artic...or-withdrawal/
F1: Honda Tipped for Withdrawal
Written by: RACER & autosport.com
RACER Magazine http://www.racer.com/speedtv
12/04/2008 - 04:13 PM
Brackley, UK
Honda Racing is expected to make an announcement on Friday morning UK time that it is withdrawing from grand prix racing as a works team – and possibly shuttering its team outright.
Amid the worldwide financial downturn and the impact that has had on Honda’s car sales, it is understood that the Brackley, UK-based team’s future is now in serious doubt. Insiders have told autosport.com that the team’s senior staff were called to a meeting at the factory on Thursday afternoon and informed that Honda in Japan were no longer willing to bankroll the outfit.
It is suggested that the team will be put up for sale – as Ford did with its Jaguar team, subsequently purchased by Red Bull – but if no buyer is found by March then the manufacturer will simply pull the plug and withdraw from the sport. In the current financial climate, it is unclear where Honda Racing would hope to find a buyer willing to support a Formula 1 team with budgets already in excess of $140 million per year….
There are suggestions that Honda could be willing to offload the team free of charge to anyone willing to support it and that the manufacturer might be willing to continue to supply engines for a period of time until another technical partner is found. However, sources have suggested that team principal Ross Brawn is already eyeing a tie-up with his former team, Ferrari, for engines
should a buyer be found. The Italian manufacturer has spare capacity now after ending its deal with Force India.
It is understood that Brawn and F1 CEO Nick Fry are scheduled to fly to meetings in Tokyo on Monday to discuss the future of the team with Honda bosses, and to define what happens if no buyer is found.
Honda Racing remained silent about the speculation on Thursday evening, with neither public relations staff nor senior team personnel available for comment. It is understood the staff informed of the decision were told not to discuss the matter prior to an official announcement being made.
It is expected Honda will issue a press release early on Friday morning revealing the company's plans. It comes after a challenging year for the team, which had begun a rebuilding process under the leadership of Brawn.
Any pullout by Honda Racing will send shockwaves through F1, and cast question marks over the future of other manufacturers’ long-term participation. It would also come several months after FIA president Max Mosley warned that the sport was unsustainable at the moment because of the high costs needed to compete. It would also mean a reduction in the size of the the grid to just 18 cars, and would leave drivers Jenson Button and Rubens Barrichello without seats, while removing what would appear to be Bruno Senna's best hope of moving up to F1 next year.
Written by: RACER & autosport.com
RACER Magazine http://www.racer.com/speedtv
12/04/2008 - 04:13 PM
Brackley, UK
Honda Racing is expected to make an announcement on Friday morning UK time that it is withdrawing from grand prix racing as a works team – and possibly shuttering its team outright.
Amid the worldwide financial downturn and the impact that has had on Honda’s car sales, it is understood that the Brackley, UK-based team’s future is now in serious doubt. Insiders have told autosport.com that the team’s senior staff were called to a meeting at the factory on Thursday afternoon and informed that Honda in Japan were no longer willing to bankroll the outfit.
It is suggested that the team will be put up for sale – as Ford did with its Jaguar team, subsequently purchased by Red Bull – but if no buyer is found by March then the manufacturer will simply pull the plug and withdraw from the sport. In the current financial climate, it is unclear where Honda Racing would hope to find a buyer willing to support a Formula 1 team with budgets already in excess of $140 million per year….
There are suggestions that Honda could be willing to offload the team free of charge to anyone willing to support it and that the manufacturer might be willing to continue to supply engines for a period of time until another technical partner is found. However, sources have suggested that team principal Ross Brawn is already eyeing a tie-up with his former team, Ferrari, for engines
should a buyer be found. The Italian manufacturer has spare capacity now after ending its deal with Force India.
It is understood that Brawn and F1 CEO Nick Fry are scheduled to fly to meetings in Tokyo on Monday to discuss the future of the team with Honda bosses, and to define what happens if no buyer is found.
Honda Racing remained silent about the speculation on Thursday evening, with neither public relations staff nor senior team personnel available for comment. It is understood the staff informed of the decision were told not to discuss the matter prior to an official announcement being made.
It is expected Honda will issue a press release early on Friday morning revealing the company's plans. It comes after a challenging year for the team, which had begun a rebuilding process under the leadership of Brawn.
Any pullout by Honda Racing will send shockwaves through F1, and cast question marks over the future of other manufacturers’ long-term participation. It would also come several months after FIA president Max Mosley warned that the sport was unsustainable at the moment because of the high costs needed to compete. It would also mean a reduction in the size of the the grid to just 18 cars, and would leave drivers Jenson Button and Rubens Barrichello without seats, while removing what would appear to be Bruno Senna's best hope of moving up to F1 next year.
#2
Melting Slicks
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Never understood how Honda management sold its shareholders on the expenses of a Formula 1 team. They never had any success after spending countless millions on the team. Japanese ingenuity and engineering at its best!!!
Frank Gonzalez
Frank Gonzalez
#3
Maybe someday Bernie will stop escalating the costs of F1 so that no one will afford it. If the races are down to Ferrari and McLaren with the rest being just backmarkers and field fillers possibly even the Chinese and the sheiks won't even pony up the 40M or so to bribe Bernie to bring the show to them. Then they will have to find a way to bring the cost down without resorting to making it a spec racer series.
#6
Le Mans Master
F1 is expensive and there are no races in Honda's largest market.
I wonder what the bailout stipulations will be on racing budgets for the "Big Three". I can see all forms of racing getting the axe, or severe reductions, from the US manufacturers.
I wonder what the bailout stipulations will be on racing budgets for the "Big Three". I can see all forms of racing getting the axe, or severe reductions, from the US manufacturers.
#7
Le Mans Master
Remarkably, this story is making the rounds on Fox News and on Paul Harvey's daily radio newscast via my ABC radio affiliate.
Is F1 a publically traded organization? If so I wonder how much BE stands to lose if F1 can't put together a viable racing package.
Interesting times, for sure.
Have a good one,
Mike
Is F1 a publically traded organization? If so I wonder how much BE stands to lose if F1 can't put together a viable racing package.
Interesting times, for sure.
Have a good one,
Mike
#14
Melting Slicks
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Location: Louisville KY
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2020 Corvette of the Year Finalist (performance mods)
C6 of Year Winner (performance mods) 2019
Honda's history in F1 is Legendary they will be missed.
http://www.f1network.net/main/s169/st19511.htm
http://www.f1network.net/main/s169/st19511.htm
#15
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IIRC the Honda Indy engines are built by Ilmore in Mich. Ilmore has been building the Indy engines for a long time. Just different names on the valve covers and minor changes here or there.