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Oli

Honda Rescued!

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Don't worry Danny, someone does buy them but it doesn't happen just yet.

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From today's Daily Telegraph - a good source:

With less than six weeks to go until the start of the season, speculation regarding the future of the Brackley-based team, which was put up for sale by the Japanese car manufacturer in December, is now reaching fever pitch. Widespread reports over the weekend claimed that Senna, nephew of the late great Ayrton Senna, had signed and would bring with him considerable financial backing through his links to Brazilian oil company Petrobras and telecommunications firm Embratel. However, Telegraph Sport understands that not only are the reports regarding Senna untrue but Petrobras have pulled out of a sponsorship deal with Honda for 2009.

It leaves the future of the team and their 750-strong staff, including Jenson Button, hanging in the balance. With the nine other teams on the grid having already finalised their line-ups for 2009, former driver David Coulthard recently voiced concerns for Button's future career if he is forced to sit this season out. There now appear to be three options on the table.

Firstly Honda could shut down the team altogether, which would cost them an estimated

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This from Grand Prix.com two hours ago:

It seems that the plans for a management buyout at Honda were almost completed when a new bidder arrived on the scene, which has thrown the whole process into some confusion. The new bidder is believed to be very serious and to have the kind of brand that will benefit from F1 - and benefit the sport as well. The fact no-one is saying anything publicly suggests that things are at a very delicate stage and the new bid could result in a new management being brought in to the team.

Honda now has to decide what to do and as time is now very short because the cars need to be built and this work cannot be completed unless there is guaranteed money for an engine supply deal to be secured, a decision has to be made soon, unless Honda wishes to find itself paying for an engine deal that it cannot use.

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This may be pure conjecture but could have some merit:

There are rumours that the new bidder for Honda could be the Virgin Group, the venture capital firm that is headed by Sir Richard Branson. This specialises in travel, entertainment and lifestyle products. The company is estimated to be worth $8bn. The broad-ranging empire is not all doing well at the moment with the Virgin Atlantic airline announcing a reduction in its workforce by up to 600 jobs but other businesses doing very well. The lure of F1 is not obvious, apart from as a brand-building exercise, but it could be related to Virgin Fuel. Branson says he is investing $1bn in alternative fuels for cars and airliners. Using F1 would be a good way to promote the idea.

Virgin has been operating since the early 1970s when Richard Branson first launched the Virgin record label, shops, followed by a film company, games, the airline in 1984, holidays, airships, hotels, radio stations, books, cola, vodka, trains, cosmetics, mobile phones, internet access and space travel. Virgin announced its diversification into new fuels in 2006.

The most interesting element of any potential bid for Honda's F1 team is that Branson has expressed an interest in motor racing before. in 1997 he said that Virgin would fund the British Grand Prix if it was run without any tobacco sponsorships. In 2000 Branson appeared in Monaco as a guest of his friend, next door neighbour and business partner Adrian Reynard, as the Reynard company was at the time designing seats for Virgin Atlantic airliners. Two years later there was a small sponsorship deal from Virgin Mobile for Eddie Jordan.

The most intriguing idea is that Branson might be involved in a bid to put Reynard in charge of the team of which he was one of the founders and a shareholder in the early days. Reynard still owns the land on which the team's factories are built and is believede to own one of the two buildings as well, although these are leased to the team. Reynard and Branson have long been pals and he is one of the founding members of Virgin Galactic, Branson's companmy dedicated to taking normal (rich) people into space.

EDIT: Source - GrandPrix.com

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It makes sense. I really hope this happens. And I can't see why Mercedes would refuse to supply engines to Virgin F1 if it came to fruition...

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Well, they have covered every single possible combination of sponsors and/or outcomes for the team. I guess they only forgot to mention the United Nations.

You will see that whatever way this story ends (and I really stopped caring about Honduh a while ago) some journalist will be there to say "See? Just like I predicted!"

Rumours are a many splendorous thing.

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It doesn't sound right but then neither did Force India.

Team Virgin? Virgin Squad....?? Force Virgin???!!! :o

Would not work too well with commentators either:

"Its the first time for the Virgin, let's hope it doesn't get screwed...."

"Its slippery and the Virgin is putting on some new rubber"

"....and the first Virgin driver is.... Jenson Button" :)

" ....the Virgin makes a pass and comes first...."

"....the Virgin gets taken from behind, despite a load of dirty air...." :D

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Well, they have covered every single possible combination of sponsors and/or outcomes for the team. I guess they only forgot to mention the United Nations.

You will see that whatever way this story ends (and I really stopped caring about Honduh a while ago) some journalist will be there to say "See? Just like I predicted!"

Rumours are a many splendorous thing.

I'm with you in the "I don't care" camp. Whoever buys them they will still be hopeless.

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Team Virgin? Virgin Squad....?? Force Virgin???!!! :o

Would not work too well with commentators either:

"Its the first time for the Virgin, let's hope it doesn't get screwed...."

"Its slippery and the Virgin is putting on some new rubber"

"....and the first Virgin driver is.... Jenson Button" :)

" ....the Virgin makes a pass and comes first...."

"....the Virgin gets taken from behind, despite a load of dirty air...." :D

I'm perspiring from laughter :lol:

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I can think of no one more Qualified then Richard Branson to run the old Honda F1 operation. Coupled with the fact that he is pally with Reynard, that's gotta be great grounding for a strong team.

Sure has to be better then a management buyout !!

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Argh too many quips in my head......

You could imagine some of the headlines:

If Richard Branson were to be forceful: "Virgin's d#ck makes a stand...."

If Max were to penalise the team: "Max spanks two Virgins..."

If Patrick Head was to take over Brawn's role: "Virgin gives Head a try for the first time...."

If A driver was offered a job and declined: "Rosberg offered a ride by Virgin, but declines...."

If one of their drivers was fined for an embarassing rule breach: "Virgin's top Button comes undone, feels exposed, hides...."

Noooo, make it stop!!! :(:D

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Argh too many quips in my head......

You could imagine some of the headlines:

If Richard Branson were to be forceful: "Virgin's d#ck makes a stand...."

If Max were to penalise the team: "Max spanks two Virgins..."

If Patrick Head was to take over Brawn's role: "Virgin gives Head a try for the first time...."

If A driver was offered a job and declined: "Rosberg offered a ride by Virgin, but declines...."

If one of their drivers was fined for an embarassing rule breach: "Virgin's top Button comes undone, feels exposed, hides...."

Noooo, make it stop!!! :(:D

:rofl:

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I can't help thinking this closer to the truth:

The latest Honda rumour doing the rounds (yawn) has Virgin buying the beleaguered Brackley outfit.

However, contrary to reports Pitpass can reveal that it was Honda who approached the Virgin Group, not the other way round.

Talking to Pitpass' business reporter Chris Sylt, Will Whitehorn, Virgin Group's Brand Development and Corporate Affairs Director, when asked whether Sir Richard Branson would be interested in F1, said: "I don't think Sir Richard would be interested in all honesty as he has only been to a handful of F1 GPs and Virgin have never been a sponsor in that field."

When asked whether there is any truth in the rumours that Virgin is looking at buying the Honda F1 team, Whitehorn replied: "I don't think much apart from the fact that I believe Virgin Group was approached by Honda recently. I doubt the appetite will be that enormous given that Virgin recently took over sponsorship of the London marathon."

While speculation over the fate of the Brackley outfit continues, there is said to be serious concern in Japan as to how the sale of the team is being handled in the UK, which some sections of the Japanese media alleging that the negotiations are being hampered by certain parties involved in the process.

This, in turn, has led to talk of a hostile buy-out from a potential buyer who is interested in the team but not the present management.

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This doesn't help either:

Petrobras have denied reports that their backing has landed Bruno Senna a 2009 race-seat with the Honda F1 team.

According to reports over the weekend, sponsorship from the Brazilian oil company was behind Honda, who are still looking for a buyer, agreeing to sign Brazilian driver Senna.

Petrobras, though, have released a statement refuting the reports.

"Petrobras denies the rumours seen in the media about Bruno Senna's hiring by the ex-Honda team with the company's support," the company said.

"The company has no contract with Honda or any future team being formed for the 2009 Formula One season. Petrobras also reiterates that under the terms of its Motorsport Sponsorship Programme, it does not sponsor drivers individually."

However, it wasn't just bad news for Senna.

Petrobras also revealed that they would not be fulfilling a $10 million sponsorship deal to support Honda this season in the wake of the team being put up for sale.

"Petrobras' presence in Formula One was our means to continue technological development and to do that we needed to work closely with a manufacturer," said Claudio Thompson, Petrobras' Manager of Sports Sponsorship.

"Once Honda announced it was pulling out of Formula One, we decided we were going to stop too, because all the manufacturer-backed teams had fuel suppliers for 2009.

"We're not interested in just being a commercial sponsor without the possibility of using and developing our products."

Source: Planet-F1

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Ok, I hear any other rumour about Honda and I'm gonna throw up.

So, let's end this right here, rioght now. How much for the team? I am willing to pay...let's see...USD 15. Cash. I will even provide the silver catsuits for the female workers myself.

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The latest on the newswire.......

[quote]Honda's future was today secured after a buyout from a London businessman. Henceforth Honda will be known as "Bob's Heating and Plumbing F1". Operating with an initial budget of ten pounds, the team have already secured sponsorship from several major local newsagents.

BH&P CEO Bob Smith told reporters "we are realistic- we realise it may be three or four days before we can start winning races". The team's first action has been to hire Madge from Neighbours as Team Principal. When asked why Mr. Smith stated it was "for a laugh".

Jenson Button is 43.[/quote]

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The latest on the newswire.......

Well, you started the thread! You might have known it would run longer than Corrie.

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