F1 Team Honda going to fold

[Aberdeen Shrimper]

By all accounts if they do not find a buyer they are going to fold the team.....official press statement tomorrow.

Anyone else got any info???

 

[Sean 2]

By all accounts if they do not find a buyer they are going to fold the team.....official press statement tomorrow.

Anyone else got any info???

Really???

But they've worked so hard on the new car...

 

[Bluesmanager]

That's Button screwed then.

 

[Ricey]

Honda have announced that it plans to sell its Formula One team after the Japanese car manufacturer’s decision to withdraw from the sport in light of difficult conditions in the global auto market.

The current Honda team was formed in 2000 after the company took over the former BAR squad, transforming it into a works team in 2006. Honda now hope to have new owners in place ahead of the 2009 season.

Team principal Ross Brawn and team CEO Nick Fry are expected to be closely involved in the evaluation of potential buyers, with speculation also arising that Brawn could call on contacts at his former team, Ferrari, to help secure a new engine supply deal.

Honda’s original Formula One involvement began in the 1960s, American Richie Ginther scoring their maiden win at the 1965 Mexico Grand Prix. Absent from competition in the ‘70s, they went on to several title successes as engine suppliers in the ‘80s and ‘90s with the likes of Williams and McLaren.

Their 2006 works return started well, with Jenson Button winning the Hungarian Grand Prix en route to fourth in the constructors’ championship. However, the team lost their way the following year, scoring just six points from 17 races.

Brawn’s subsequent arrival was heralded as the start of a new era, but came too late to have significant impact on Honda’s 2008 campaign, which saw them finish ninth in the final standings.

Neither of Honda’s race drivers, Jenson Button and Rubens Barrichello, has yet been confirmed for 2009 and the UK-based team recently evaluated GP2 star Bruno Senna.

Full statement from Honda:
“We, Honda Motor Co., Ltd., have come to the conclusion that we will withdraw from all Formula One activities, making 2008 the last season of participation.

“This difficult decision has been made in light of the quickly deteriorating operating environment facing the global auto industry, brought on by the sub-prime problem in the United States, the deepening credit crisis and the sudden contraction of the world economies.

“Honda must protect its core business activities and secure the long term as widespread uncertainties in the economies around the globe continue to mount. A recovery is expected to take some time.

“Under these circumstances, Honda has taken swift and flexible measures to counter this sudden and expansive weakening of the marketplace in all business areas. However, in recognition of the need to optimize the allocation of management resources, including investment regarding the future, we have decided to withdraw from Formula One participation.

“We will enter into consultation with the associates of Honda Racing F1 Team and its engine supplier Honda Racing Development regarding the future of the two companies. This will include offering the team for sale.

“In its third era of Formula One activities, Honda has been participating in Formula One races from the 2000 season, initially with BAR, by adopting a new format of jointly developing racing machines. Subsequently, in a move to meet the changing environment surrounding Formula One, we switched to running a 100 percent Honda-owned team commencing with the 2006 season.

“Surmounting many challenges, the Honda Team achieved a Grand Prix victory in 2006, enabling Honda to receive overwhelming support from Honda fans around the world that were looking forward to greater success. It, therefore, has been an extremely difficult decision for us to come to this conclusion without having been able to fully meet the expectations of our fans.

“By making the best of what we have learned during these times of economic turmoil, coupled with the spirit of challenge gained through active participation in racing, we intend to continue with our commitment in meeting new challenges.

“Finally, we would like to take this opportunity to sincerely thank our fans and all those who have supported Honda’s Formula One efforts, including everyone in the world of Formula One.”

http://www.formula1.com/news/headlines/2008/12/8755.html

 

[* ORM *]

Let's hope the rest of Formula 1 folds too. Surely among the most pointless spectator sports in the world. He who has most money, builds best car + wins championship. Why do people pay small fortunes to spend ages queuing up to get in and out to watch it ?

I have no doubt of the bravery and skill of all the drivers and they are welcome to their rewards but I would much prefer to see them all racing in reasonably identical cars to see who is the best driver.

 

[Ricey]

Let's hope the rest of Formula 1 folds too. Surely among the most pointless spectator sports in the world. He who has most money, builds best car + wins championship. Why do people pay small fortunes to spend ages queuing up to get in and out to watch it ?

I have no doubt of the bravery and skill of all the drivers and they are welcome to their rewards but I would much prefer to see them all racing in reasonably identical cars to see who is the best driver.

They already have that in A1 GP and that is hardly the most exciting sport in the world. Its like football though 'he who has the most money normally wins', everything sport is turning like it. If you haven't got the money you dont stand a chance.

Although take Force India for example their owner is extremley wealthy and has invested millions into the team and they didn't score one point what so ever. The thing is teams like Ferrari, Mclaren, Renault and Sauber have been in it years and will always be miles better than the rest. I think the sport is becoming more interesting. We have young talent coming through the ranks with Lewis Hamilton becoming the youngest ever F1 world champion and British, Seb Vettel the youngest driver to ever win an F1 race. Kubica is another young one showing his potential.

The sport is and always will stay close to my heart, as a young boy I favoured motorsport over football. I remember the days of Hill, Schumacher, Berger, Alesi, Prost, My all time hero Senna, Herbert, Mansell etc etc... Ok the sport has changed alot since then but its a sport I think that will always entertain and draw crowds.

I have been to 3 GP's at Silverstone, I witnessed Johnny Herbert win at Silverstone in the F1 when Damon Hill took out Michael Schumacher (not the first time at Silverstone either ;) ). It is a bit boring watching it when your there but they are introducing new ways of keep the crowds interested. They have mini screens you can hire that offer commentry and you can track cars etc... Keep an eye on the progress whilst also being there live and being able to cheer on Fernando Alonso ;)

Hang fire F1 will come good again, especially now they have finally reintroduced Slicks and got rid of that stupid traction control :D

 

[* ORM *]

They already have that in A1 GP and that is hardly the most exciting sport in the world. Its like football though 'he who has the most money normally wins', everything sport is turning like it. If you haven't got the money you dont stand a chance.

Good answer - precisely why I don't watch the Premiership or England (Italian) matches

 

[RobM]

Formula 1? Dull dull dull! "Races" are decided in qualifying most times. Totally pointless.