Formula 1 power-broker Bernie Ecclestone has said he would be delighted if Richard Branson’s Virgin Group took over the stricken Honda Racing team.
Virgin is understood to have made a bid to buy the Brackley-based squad, which was put up for sale by Honda last December following a slump in the Japanese manufacturer’s road car sales.
Ecclestone, F1’s commercial ringmaster, feels an entrepreneur of the stature of Branson would be an ideal new owner for the team.
“We would welcome them with open arms,” said Ecclestone. “He’s exactly the type of person we would want in the sport.
“Sir Richard Branson is a wonderful guy. I met him at Monza last year and we got on very well.”
Branson’s offer could scupper a planned management buyout led by the Honda team’s chief executive Nick Fry, principal Ross Brawn and three other senior Honda Racing executives. “I know about the management buyout,” said Ecclestone. “But if Virgin are interested and people say they want the same management, then that’s great too.”
Branson’s people approached the Honda board directly to push through a deal.
With time running out before the first race in Australia on March 29, they need the nod within a week.
“I’ve spoken to Richard’s people about it. He would love to do it,” said F1 supremo Ecclestone.
Speaking about the prospect of Virgin being involved with F1, Ecclestone said: “I’d like it very much. It would be super. We’re working to try to make it happen.”
The team are very short on time to put a deal together to enable them to compete this season.
They are planning to use Mercedes engines, but the German company has set a deadline by which the team have to prove they have the finances in place to pay for the power-plants.
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