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Monday, February 23, 2009

No buyer yet for Honda

We are all awaiting an announcement from Honda concerning the future of the team, and if the announcement was “not yet,” then we got it.

With just over a month before the season starts at Melbourne, things are looking increasingly dire for the Brackley squad.

Honda Revise Fiscal Year 2008 Forecast



“There are various offers for the team but we haven't seen any serious buyer,” Honda president Takeo Fukui is quoted by the BBC. “We find the sale process difficult.”


It was thought the two offers being considered for the team were Sir Richard Branson’s Virgin Group or a management buyout.

Branson said he might be interested, but he would want to see the sport become cheaper and greener, first.

Reports over the weekend also revealed the management buyout group turned down an offer to help from Bernie Ecclestone.

James Allen’s blog addresses some of the rumors circulating the Interwebs concerning the management buyout (sans Nick Fry?), and also discusses what may have been the real motivation for Bernie to buy into the team, and why he was turned down.

Spygate comes to an end

Legal proceedings against McLaren employees in Italy were officially dropped Monday, putting an end top the scandal which rocked the 2007 season.

Italian prosecutors in Modena dropped charges against former McLaren chief designer Mike Coughlan and current employees Paddy Lowe, Jonathan Neale and Rob Taylor as part of an agreement reached late last year.

The FIA closed the case following a December 2007 apology by McLaren, and Ferrari and McLaren resolved the remaining issues between them last summer.

Force India set to reveal ’09 car

Force India will debut the VJM02 Sunday at Jerez
.

Giancarlo Fisichella and Adrian Sutil will both get a taste of the Mercedes-powered challenger over the course of the week.

In addition to the power plant, Mercedes is providing the KERS device and gearbox. Don't miss the top stories of the day, subscribe to the SpeedRead Web newspaper now! -- Email SpeedRead -- Learn more about author C.D. Six

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