David Richards eyes axed Honda F1 team: Brackley headquarters could change hands soon
Dec 7, 2008 | 10:30 AM
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David Richards eyes axed Honda F1 team: Brackley headquarters could change hands soon
David Richards is believed to be perhaps the most serious of the prospective buyers of Honda's Formula One team.
As alluded to by Honda figures as well as F1 powerbrokers Bernie Ecclestone and Max Mosley, there is already interest in the team which on Friday was put on the market by the struggling Japanese carmaker Honda.
To boost the chances of a sale, Honda has offered to bear the team's outstanding debts, and offer for sale the excellent facilities of the Brackley-based squad for a nominal fee as low as $1.
The successful buyer would have to convince Honda that it could safeguard the future of the team, even if many of the 700 employees would be retrenched as the annual budget is slashed from its current $300 million to as little as $70m.
The British newspaper The Daily Telegraph said the most serious buyer, believed to be Prodrive chief David Richards, could be in a position to seal the deal by the end of this weekend.
56-year-old Richards is no stranger to the team, having been brought in to run its previous BAR incarnation in 2001.
Prodrive was slated to join the F1 grid in 2008, but Richards pulled out because his plans involved running a controversial McLaren-Mercedes customer package.
Honda driver Jenson Button, who has been very loyal to the team, is rumoured to be preparing for a test drive with Scuderia Toro Rosso next week - a team which parent company Red Bull has also put on the market.
However, due to Richards' known preference for Button during the BAR days, a quick purchase of the Honda team might convince Button to stay on.
D.B. © CAPSIS International
Source: GMM
As alluded to by Honda figures as well as F1 powerbrokers Bernie Ecclestone and Max Mosley, there is already interest in the team which on Friday was put on the market by the struggling Japanese carmaker Honda.
To boost the chances of a sale, Honda has offered to bear the team's outstanding debts, and offer for sale the excellent facilities of the Brackley-based squad for a nominal fee as low as $1.
The successful buyer would have to convince Honda that it could safeguard the future of the team, even if many of the 700 employees would be retrenched as the annual budget is slashed from its current $300 million to as little as $70m.
The British newspaper The Daily Telegraph said the most serious buyer, believed to be Prodrive chief David Richards, could be in a position to seal the deal by the end of this weekend.
56-year-old Richards is no stranger to the team, having been brought in to run its previous BAR incarnation in 2001.
Prodrive was slated to join the F1 grid in 2008, but Richards pulled out because his plans involved running a controversial McLaren-Mercedes customer package.
Honda driver Jenson Button, who has been very loyal to the team, is rumoured to be preparing for a test drive with Scuderia Toro Rosso next week - a team which parent company Red Bull has also put on the market.
However, due to Richards' known preference for Button during the BAR days, a quick purchase of the Honda team might convince Button to stay on.
D.B. © CAPSIS International
Source: GMM
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