Fry gives details of Honda plans

Nick Fry, the chief executive of Honda Racing F1, says that he is hopeful that the team will still be on the Formula 1 grid for the start of next season.

"In the last 12 hours we've had three serious people come to us and suggest they would like to buy the team," Fry says. "This is a completely different situation from prior Formula 1 teams stopping. This team is one of the best funded, has the best assets, the best resources in the pit lane, a fantastic group of people, and a car designed by Ross Brawn, who has won many World Championships, and is ready to go next year. I think we are going to be a desirable asset for somebody. We are very hopeful that this team is going to take a big step upwards, so it is a big opportunity for somebody. This is all to do with the financial situation in the world, and as you know all the motor companies are being struck very hard by falling sales. Clearly more success on the track would have been nice, but this is a much-bigger-picture issue."

The big question for British fans is what now happens to Jenson Button.

"Jenson has a contract with the team," Fry says. "If we can find new owners then we hope he will continue. He has very much been an integral part of the team for a good few years now. He is a fantastic driver and a big asset, which will hopefully make the team even more attractive."

If the team cannot be saved then Button would be available. On paper the only opening is at Scuderia Toro Rosso but the availability of a driver of Button's calibre may lead to other opportunities opening up in other teams.

Fry says that as the search continues for a buyer the team will continue its preparations for 2009.

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