DECEMBER 4, 2008

Honda looking to sell F1 team by Christmas?

Multiple sources are now reporting that Honda Racing F1 is being put up for sale and that if the sale is not completed by Christmas the team will be closed down. There is no confirmation from any Honda company officials, but teams across Europe are reporting that they have received a rush of applications from Honda F1 personnel in the course of the day.

The fact that the team is not responding to requests for statements is a bad sign, as if the rumours are not correct they would need to be killed as quickly as possible.

The official announcement of such a move is unlikely to come from the United Kingdom and thus the F1 world is waiting for Japan to wake up in around five or six hours to see if the news will be made official by the company.

Given the lack of credit available in the world at the moment it is not going to be easy for Honda to find a buyer, although big companies that might have an interest in running their own Formula 1 team do exist.

We will keep you informed as more news come to light.