It appears increasingly unlikely that the Formula 1 team currently owned by Honda will compete at the season-opening Australian Grand Prix at the end of March.
Honda have revealed that a “serious buyer” has yet to come forward for the up-for-sale team, following the Japanese manufacturer’s decision – announced in December – to withdraw from the sport.
A proposed management buyout by team CEO Nick Fry and team principal Ross Brawn was offered help by Formula 1 boss Bernie Ecclestone, but the 78-year-old has revealed that his idea was rejected.
The sport’s commercial rights holder offered £100m for a controlling share in the team with the current principal, Ross Brawn, and the chief executive, Nick Fry, each retaining 17.5% stakes.
“It was a very good offer for all concerned,” Ecclestone said. “It gave them complete freedom to do things on their own. Now all we can do is hope and pray.
“I don’t think anybody knows what is going to happen with Honda ... they either go with the management, go with [Richard] Branson, or they could simply close the whole thing down.”
Branson said: “If Bernie Ecclestone can make it more cost-effective for the likes of Virgin to come into the sport, and if he can champion clean motor-car racing – which is possible if all the cars run on clean fuels – then at some stage we might be interested in getting involved.”
Honda has received several proposals, “but actually there are very few who are serious about buying it,” Honda Motor president Takeo Fukui said at a new conference to announce his retirement in June.
Racing “is very challenging but also fun,” said Takanobu Ito, the 55-year-old engineer who will replace Fukui.
“Unfortunately, our company has a slight cold right now. But we would like to cure this cold as quickly as possible and work towards reaching that happiness” of racing, he said.
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