Honda F1 website

DECEMBER 15, 2004

Wanna buy a secondhand race team?

Those with money are advised that there is a chance for them to buy the team that finished second in the 2004 FIA Formula 1 Constructors' Championship - although they will have to outbid British American Tobacco and Honda for the right to take over the team. And they can bid as high as they like as most of the money will go to BAT, which is the chief creditor of the now-defunct British American Racing Holdings company. Bidding against BAT is therefore a thankless task and so it can be assumed that within a few days the sale will be completed and there will be a new company replacing BARH as the parent company of British American Racing. This will feature 55% ownership by BAT and 45% by Honda although it is fairly clear that Honda will eventually buy all the shares and take over the team.