Sir Richard Branson to buy Honda F1

Sir Richard Branson to buy Honda F1

Postby damo1583 » Wed Feb 18, 2009 3:55 pm

Sir Richard Branson to buy Honda F1.............

Honda Racing have confirmed that Richard Branson's Virgin Group is in negotiations to buy the Formula One team.

With the start of the 2009 season just over five weeks away, a Honda spokesman said Virgin were among several potential buyers for the Brackley-based outfit.

"We are negotiating with several potential buyers for the racing team, among which is the Virgin Group," the spokesman said, declining to name the other interested parties.

The Virgin Group had earlier declined to comment, a spokeswoman saying they were "constantly named in speculation and rumour".

There has also been the suggestion of a management buyout, led by Honda Racing's chief executive Nick Fry.

A decision by the Japanese manufacturer on the future of the team is likely by the end of the month.

"We are doggedly pursuing negotiations in time for the start of the F1 season in March," said another Honda official who declined to be named.

"We are intensely discussing options including finding a buyer," he added, admitting that the team may still have to be disbanded if the negotiations fail.

Honda announced at the start of December that they were putting the team on the market following a sharp decline in car sales.

The team employs around 700 people, with the decision also placing the F1 career of driver Jenson Button in jeopardy.

Prior involvement
Branson has had prior involvement in the sport, his Virgin Mobile company sponsoring the Jordan team in 2002.

Virgin Atlantic Japan have also sponsored Japanese driver Takuma Sato for the past four years.

Sato drove for Jordan in 2002 and also raced for Honda - when the team was owned by British American Tobacco - in 2004 and 2005.

Branson is also a friend and business associate of Adrian Reynard, co-founder of the team in 1998.


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Re: Sir Richard Branson to buy Honda F1

Postby Cheese » Wed Feb 18, 2009 7:53 pm

I hope a deal can be done - for the simple reason - the more teams the better.

Richard Brandson isn't my most favourite of people but i would think he's a good choice of buyer for Honda.

So Button could well still have a drive next season.
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Re: Sir Richard Branson to buy Honda F1

Postby damo1583 » Wed Feb 18, 2009 7:57 pm

I think Branson would be good for F1, he has a great track record in business and in his past times. He runs his projects impeccably well. And living in Frome (Jensons home town) I of course want to see Button competing this season, would love to see him at Mclaren though with an all English line up............
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Re: Sir Richard Branson to buy Honda F1

Postby Reverend Gooner » Wed Feb 18, 2009 9:15 pm

Honda is my team so i really hope this happens, but it has to happen soon.

I hope Richard Branson knows not to expect too much in the first season despite having Mercedes engines. They are behind on testing and design time obviously.


Overall i think Virgin would be a great asset to F1, Branson has been involved in bike racing for a while now and has done well there.


The one thing i am trying to figure out is how the car will look, Ferrari have monopolised the colour red as the only colour on the car. A half red and white? but that is Mclarens old colours. Virgin advertising without red would be weird but we will have to see what happens.



I will be really disappointed if this does not go through.
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Re: Sir Richard Branson to buy Honda F1

Postby damo1583 » Wed Feb 18, 2009 9:26 pm

Little Motzart will get thesecond drive lol......................

He does everything else for Virgin so he might aswell have a pop at driving.........lol
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