Newspapers claim Honda F1 deal done

Ross Brawn (right) is tipped to lead the former Honda team

Ross Brawn (right) is tipped to lead the former Honda team

Several newspapers this morning are claiming a deal to rescue the Honda F1 team has been done.

According to The Times:

Sources close to the Brackley-based outfit confirmed last night that the deal is going ahead and that the team will conduct a ??shakedown?? test of their new car at Silverstone next Thursday, which will be Button?s first outing in the new machine.

The management buyout is being led by Ross Brawn, the team principal and former Ferrari technical director, and will be funded by a combination of money from Honda itself for this year, funds from Bernie Ecclestone, the Formula One commercial rights-holder, and commercial sponsorship. Recent reports suggested that Sir Richard Branson?s Virgin Group could be a backer but this was being ruled out by informed sources last night.

The Daily Telegraph claims the deal has been secured with money from Honda:

It is likely to mean up to 300 jobs lost at their base in Brackley, Northamptonshire, and a pay cut of roughly $7.5million (??5.2million) for British driver Jenson Button.

Chief executive officer Nick Fry, team principal Ross Brawn and three other directors have finally convinced Honda’s board in Tokyo to hand over a sum, believed to be in excess of $100million, to enable the new team to continue racing in 2009 at least. It would have cost the manufacturer roughly the same amount to wind up the company.

Jenson Button is widely tipped to retain his seat and will drive the car at a test next week. One of two Brazilians – Rubens Barrichello or Bruno Senna – will drive alongside him.

Is this really the end of the agonising wait to find a buyer for Honda, over two months since they were put up for sale?

Read more: Honda: a one-off or the first of many?

Advert | Go Ad-free

59 comments on Newspapers claim Honda F1 deal done

  1. I’d go for Tyrrell. Or, if Fry is still involved in the buy-out, Brawn & Fry Racing. Or maybe just Brackley F1, then. Boring, but OK.

  2. This is sounding a little complicated but fingers crossed they make it to the grid and last the full year and some…

  3. ruudtobz said on 27th February 2009, 13:28

    brawn and fry racing sounds like a cooking oil. funny though!

  4. Willthey, won’t they??? Love the circus of the whole thing it definatley been the best off season for a long time!!! From what ive heard Fry has made no investment and he will be only an “employee”. My preffered team name would be Tyrell as well but i think the Brackley F1 name is done. Jensons last chance I think and i hope he can transform that smooth style into some points. Big up to Rubens, I hear he has the second drive.

  5. Rob R. said on 27th February 2009, 13:36

    A Bit of Fry And Brawn?
    Brawn’s Brackley Braves?

    Who knows. They could call it whatever they like at this stage, since it’s obvious that this is going to be the last season of F1.

  6. sparky said on 27th February 2009, 14:09

    I just checked out the domain name brackleyf1.com and
    brackleyf1.co.uk

    both registred to a Dominic Stanton.

    It was registred with godaddy today and an advert site just went live in the last few minutes.

    I guess honda f1 should have reserved this name a few days ago if it was to be used. So maybe they will be called something else?

    • Adrian said on 27th February 2009, 15:37

      Interesting though, I’m sure I read somewhere else that the url was registered to someone with a foreign sounding name. I suspect that this Dominic Stanton is hoping to make a quick buck out of buying the name and then selling it on at a profit…

  7. YeaMon said on 27th February 2009, 15:33

    Brackly Mercedes. Got a nice ring to it.

  8. Martin Bell said on 27th February 2009, 16:25

    @ colin “the best off season for a long time” , I hadn’t really thought of it until now, but you’re right. Plenty of intrigue, despair and frustration for us all to fill up the winter months with. Has anyone else started to feel that this has become the PR disaster Honda so desperately wanted to avoid? So much has been written about the”loss of face” so important to Japanese businessmen, but doesn’t this now all look like a monumental cock up by them, a failure to act decisively. Surely this outcome could have been arrived at months ago?

    • Absolutley it is a PR disaster. The worst part for Honda is that, if everything gose well with the FIA in the future, the new wave of cost-cutting measures will allow their competitors to saty in the sport and prosper, and it was all triggered by their sudden and complete withdrawl from the grid.

  9. Good luck to them, we cannot afford to lose any more teams from F1. Having read the article it sounds like Fry may be bowing out. Ross Brawn is taking on a much bigger challenge that even he thought when he signed with Honda F1 in 2007.

  10. Somers said on 27th February 2009, 16:55

    As a Honda/Jenson fan I think it’s great the team is being thrown a lifeline. HOWEVER I’m still unsure as to what impact this coming season will have. Honda seem to be quietly confident about their chances this season but still packed it up, so with a new engine/KERS package is this Honda gonna be like a shopping trolley with a wonkey wheel just like the others? :( It would have been altogether better if Honda would have still acted as a supplier for the coming season and seen out what they started.

    • Adrian said on 27th February 2009, 16:59

      A lot of people question the engine packaging, but the engines in formula 1 are so similar these days that I doubt it will be as big an issue as it’s made out to be. Red Bull and Torros Rossos manage to mount 2 very differetn engines in their carrs without much hassle…

  11. “I can’t believe it’s not Honda”

  12. Enough, either say the team is sold or just shut it down.

  13. ajokay said on 27th February 2009, 17:39

    5pm has passed and still no more information. Guess we’ll have to wait until Monday now then, *sigh*.

  14. Any confirmation on what engines will be used?

    LMAO I also vote “I can’t believe it’s not Honda”!

  15. Keith

    There’s an interesting history regarding an internet domain registered by a lawyer named Caroline McGrory (former BAR employee!). She taken two names:

    BRAWNRACING.COM and BRAWNRACING.CO.UK

    Here, the data concerning the domain register:

    BRAWNRACING.COM

    Registrant: Caroline McGrory
    28 The Hall Close
    Rugby
    Cv22 6NP
    UK

    Domain name: brawnracing.com

    Created on: 2009-02-25
    Expires on: 2011-02-25

    Administrative contact:
    Easily Limited
    3rd Floor, Prospero House
    241 Borough High Street
    London
    SE1 1GA
    UK

    +44.8704589450
    +44.8704589458

    domain-admin@easily.co.uk

Add your comment

Your email address will not be published. Required fields are marked *

All comments must abide by the comment policy. Comments may be moderated.
Want to post off-topic? Head to the forum.
See the FAQ for more information.