MAY 9, 2008
The future of Super Aguri F1
Super Aguri F1 Limited has been placed in administration. The company is now being run by PKF (UK), a British accounting firm. Ian Gould, Brian Hamblin and Philip Long have been appointed the administrators of the business and will now manage the affairs, business and property of the company. They hope to be able to sell the business as a going concern. This is not going to be easy because the validity of the entry remains in question. If there was a Concorde Agreement in place there would be no value in the company as missing a race for economic reasons is sufficient to cancel all the benefits and rights that exist, but the doubt over whether or not F1 is currently controlled by the terms of Concorde means that there is a small chance that a buyer could claim the entry. This would almost certainly result in legal actions from others teams because of the points that the team scored last year, and that will probably scare away any potential investors. If there had been a sensible buyer it is most likely that they would have come out of the woodwork before now.
PKF is an experienced administrator in F1 with past experience including Arrows in 2003 and Prost Grand Prix (UK) in 2002.
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