LONDON, England (CNN)—Super Aguri could be forced out of Formula One after a potential investor pulled the plug on a multi-million pound deal.
“It is with deep regret I am now forced to consider the future of the team, however, negotiations with other parties continue,” Suzuki said.
Although Super Aguri use Honda engines and have long been supported by them, it is unlikely they will bail out the team.
Super Aguri have the smallest budget of any F1 team, estimated to be $90m. Toyota are believed to top the spending pile dominated by the manufacturers, lavishing up to $550m a year on their bid to overhaul Ferrari and McLaren. Edition CNN
“Super Aguri Formula One team confirms that it has been informed by Magma Group, the potential purchasers of the team, that its investors no longer wish to fund the intended acquisition,” the team announced in a statement.
“It is with deep regret that Aguri Suzuki is now forced to consider the future of the team, however negotiations with other parties continue. Associated Press
Super Aguri now face the prospect of not only missing next week’s Spanish GP in Barcelona, but potentially folding altogether.
Just over a month ago, Super Aguri – who feature British driver Anthony Davidson – confirmed that investment company Magma Group had agreed to buy them out.
But the deal has now been put on hold after Magma’s backers, Dubai International Capital, the same group hoping to buy Liverpool, have decided they no longer wish to invest.
If a new backer is not found, Super Aguri – who couldn’t even attend this week’s testing sessions at the Circuit de Catalunya – could go under. Daily Star
Far from suggesting that the team will merely be forced to miss the Spanish Grand Prix at the end of this month, however, it has now been suggested that the body blow may lead to Super Aguri having to close its doors altogether.
“We have exactly three days to find an alternate solution,” a team insider told German magazine Auto Motor und Sport, after Super Aguri was again forced to miss F1 testing in Barcelona this week. “If we do not find the money, we cannot race.”
The three-day deadline is believed to refer to the amount of time that would be needed for the team’s transporters to leave its Oxfordshire headquarters to head to the Circuit de Catalunya for the Spanish Grand Prix on 27 April.
The ailing concern is now looking to parent company Honda once more, as well as F1 supremo Bernie Ecclestone, whilst Grand Prix Magazine hints that there are possible signs of interest from both Germany and America. UK Eurosports Yahoo
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