The Honda Motor Company reached a deal with Ross Brawn to allow the F1 team to compete in the championship later this year.
The former team principal will take over controlof the British-based team “with immediate effect”.
Click Here For More Formula 1 Photos
Brawn GP will take part in preseason tests in Spain ahead of the Australian Grand Prix later this month.
Brawn immediately said he would keep experienced drivers Jenson Button and Rubens Barrichello, banking on their racing know-how to make up for lost time ahead of the F1 season opener March 29 in Melbourne.
This deal saves the Honda team from falling victim to the global economic crisis which has seen big companies slashing costs wherever they can to stay afloat.
Honda and Brawn did not disclose the cost of the deal but said the company had sold all shares of its Honda Racing F1 Team to him.
Brawn GP acknowledged in its statement that “the past few months have been extremely challenging,” and that Friday’s announcement “is the very pleasing conclusion to the strenuous efforts that have been made to secure its future.”
“The vast experience and knowledge that both drivers bring to our team will prove invaluable as we aim to get up to speed in the shortest possible time to be ready for the first race of the season,” he said.
| 
|