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FYI
BRANSON BIDS FOR HONDA F1 TEAM

Honda may enter Virgin territory



Richard Branson’s Virgin Group has made a bid for the Honda Formula 1 team, according to a Reuters report that hit the newswires this morning.
Virgin has yet to comment on the report, but Reuters claims its story has been confirmed by an unnamed source close to Honda in Japan.
If true, the latest revelation looks to be a spanner in works for rival buy-out plans proposed by existing Honda F1 team management – led by Nick Fry, Ross Brawn and three other senior executives.
Virgin Group first dabbled in F1 in 2002 when Virgin Mobile sponsored Team Jordan, and Virgin Atlantic Japan have a long-standing commercial relationship with Takuma Sato, the Japanese Former F1 driver who also has strong links with Honda. Additionally, Richard Branson is said to be a friend and business associate of Adrian Reynard, the original co-founder of the BAR (Honda) team, although Reuters says its source doesn’t know if Reynard is involved in any possible Virgin takeover.
With the new F1 season due to start in a little over a month, the pressure is on Honda to take an early decision on the future of its Brackley-based F1 outfit.
With Jenson Button still ready to start for the Honda team at Melbourne in March, any involvement from Virgin could reap PR dividends for the self-proclaimed ‘British national flag carrier’.
 

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Any investment in F1 is good for the sport if it means more teams on the grid. I'm not sure about Branson though, he likes to think he is the peoples consumer champion, but is really just as power crazed and ruthless as every other entrepreneur. He also has a habit of buying into a business and selling it on again as soon as he has made a few quid. I don't think he'll be in F1 for the long term.
I hope I'm wrong, and hope he'll make a substantial long term investment into the team and help turn them into a championship contending team again.
 

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May make sense in Branson's case....he can afford the advertising for his space rockets and other stuff.....but F1 is insanely costly...hope he's got an even readier pocketbook.....

He might have been wiser to own an F1 site, or sponsor something without investing too much in a team.
 

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May make sense in Branson's case....he can afford the advertising for his space rockets and other stuff.....but F1 is insanely costly...hope he's got an even readier pocketbook.....

He might have been wiser to own an F1 site, or sponsor something without investing too much in a team.
I am sure if he is buying the team, it is very little of his own money that he will be putting up.
 

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I am sure if he is buying the team, it is very little of his own money that he will be putting up.
no one ever said sir richard wasn't smart..so you are probably correct.
 

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A1 boss interested in Honda

London - A1 Grand Prix boss Tony Teixeira said on Tuesday he had been until recently talking to Honda about acquiring the Japanese manufacturer's F1 team.

"I was one of the guys talking to Honda in the last two weeks," the South African told the Autosport website (www.autosport.com).

Virgin Group boss Richard Branson has expressed an interest but a management buy-out now looks the most likely route, other than closure, after Honda said on Monday they had received various offers but no serious buyers.

Teixeira has been interested in F1 in the past to promote his self-styled "World Cup of Motorsport" that runs mostly during the European winter.

He told Reuters last year he had scrapped plans to buy a team after the sport changed the rules to ban the use of so-called customer cars.

Teixeira said on Tuesday that, with cost-cutting measures likely to make the sport far more affordable to new entrants from 2010, his interest had revived although the credit crunch had scuppered any immediate plans.

"Today I'm in a completely different situation," said the A1 chairman, whose series uses single-seater cars designed and powered by Ferrari.

"I've built my own cars and designed my own chassis. I have my own factory. So I'm not a customer boss. I can now build my chassis and run with a Ferrari engine. I'm now the same as everyone else.

"The only reason we want an F1 team is for the winners of A1 to go to F1," added the entrepreneur, who talked to Spyker in 2007 before that team became Force India and also made an approach to Red Bull-owned Toro Rosso last year.

"But, because of the times, I cannot commit myself to this year's budget."

Teixeira said he had bought land near the Algarve circuit in southern Portugal that could be used as a base for his series as well as any future F1 team.
 

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Race on: Honda F1 becomes Brawn GP

The former Honda Formula One team has been saved and will race this season as Brawn GP under new owner Ross Brawn, the renamed team said in a statement on Friday.

Britain's Jenson Button and Brazilian Rubens Barrichello, last year's Honda line-up, will continue to drive for the British-based team with the first race in Australia little more than three weeks away on March 29.

Brawn GP, whose change of name is subject to the agreement of the governing International Automobile Federation (FIA), will use Mercedes engines under a deal with McLaren's partners.

No financial details were given.

"Honda Motor Company Limited and Ross Brawn are pleased to confirm that they have reached agreement to secure the future of the former Honda Racing F1 Team," the statement said.

"With immediate effect, Honda will pass ownership to Ross Brawn, Team Principal of the new Brawn GP Formula One Team."

Brawn, a former Ferrari technical director, looked forward to the new season after months of doubt about the team's survival following Honda's announcement in December they were pulling out due to the credit crunch.

"The past few months have been extremely challenging for the team but today's announcement is the very pleasing conclusion to the strenuous efforts that have been made to secure its future," he said.

"I would like to thank Honda for the fantastic co-operation and support we have received throughout this process, particularly those members of the senior management who were closely involved with concluding our agreement, and for the faith they have demonstrated in myself and our team."

Fry remains

The team said Nick Fry, the former Honda Racing chief executive who attended a news conference held by the Formula One Teams Association in Geneva on Thursday, will remain as part of Brawn's senior management team.

However the Brackley-based team, formerly the sport's biggest spenders, are likely to shed a considerable number of their 700 employees as they enter the season in more straitened circumstances.

They are due to hold a private shakedown of the new car at the Silverstone circuit in England on Friday before travelling to Spain for their first test of the year in Barcelona on Monday.

They will also hold a final pre-season test in Jerez.

Barrichello is Formula One's most experienced driver with a record 270 starts and his partnership with Button, reported in the British media to have taken a significant pay cut, represents a combined total of 423 grands prix.

Brawn's move, effectively a management buy-out, rescued both men's Formula One careers with 36-year-old Barrichello out of contract while Button was facing a year on the sidelines with all other teams completing their line-ups.

With the team's survival, Formula One will start the season with 10 teams - one fewer than at the beginning of 2008 before Super Aguri folded.
 

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What mileage would Ross have got trying to get Ferrari engines - with his links.

Or do you think with Ferrari already supplying another team that door was closed (by Bernie) and it re-inforces Ross distancing himself further from Ferrari?
 

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Discussion Starter #11
What mileage would Ross have got trying to get Ferrari engines - with his links.

Or do you think with Ferrari already supplying another team that door was closed (by Bernie) and it re-inforces Ross distancing himself further from Ferrari?
I don't think Ferrari was very pleased when Brawn left. Hence no real desire to supply him with engines or any other help.
 
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