Honda Rescued!

[dribbler 6]

Surely Mike Oldfield should bang his tubular bells over the nose of the Virgin before it starts its first race. Wouldn't that be ironic? That's if Oldfield's bells are still up to being banged these days.

If not, he could take the Virgin up the Hergest Ridge.

[dribbler 6]

I've been out of the loop lately..

So is the "old" Brackley team gonna be on the grid this year .. or not????

Ah, nice try Rubens. They'll let you know.

[shampion 0]

Ah, nice try Rubens. They'll let you know.

Damn secret identity.... what gave me away??

foiled again!

[Insider 0]

Yeah (and to 5P, but your name is unpronouncable :-), there's a lot in that Steve, indeed, in a similar way to 'there's a lot' in that boobenholster in your sig pic thang, quite magnetic just before 'me Horlics. I mean the drink, not the girlies that Max likes

Branson and F1: He's invested many hundreds of millions into his algae alternative fuel (to try to stop the food shortages that 'traditional' bio fuels are destined to do - what fcukwit thought that would work anyway?) - check out their policy and story behind this, it's a massive part of their future - donating planes to trial it aint cheap...

So... if he can get a foot in the door with this through F1 he'll have made a great move. Blend this (see the fuel terminology rolling off my lips huh?) with his unconventional way of seizing opportunities and there's a bloody clever 'in' there - Richard Branson is one of those that sees best opportunities to make change are from being 'in' with the old-guard and bringing them onside.

Stay tune. when I sober up I'll throw some 3 sylabubble words in too.

When I added my latest reply in this thread, I had no idea that this algae fuel program existed - thanks for the briefing, Meds. Nevertheless, it only gives credence to my belief that he is 'in', as it were. This is a further 'test-bed' opportunity for his 'greener' fuel research. Whether he's going to go the whole hog this season and buy the outfit out or just coming in as a working partner at Brackley for a season or two with an option to buy, I don't know. he'll certainly be putting his own managers in at some stage, that's for sure. Watch the press today.

[Rainmaster 7]

We now hear Bernie's help was turned down; we are not impressed (edit) or surprised for that matter, they are determined to not be saved it seems!

Source

[mikathegreat2 2]

We now hear Bernie's help was turned down; we are not impressed (edit) or surprised for that matter, they are determined to not be saved it seems!

Source

Why oh why would they not want Bernies help to stay in F1, just what kind of idiot would'nt????

[Insider 0]

Bernie's offer would have had many pitfalls, I am sure. Brawn is no fool and I doubt he would have spurned a

[Rainmaster 7]

I guess they felt they were in a position where they could down a probably solid offer from Bernie, in the not too distant future we'll find out if they were right - I hope they were for the same reasons as Bernie.

[Insider 0]

I guess they felt they were in a position where they could down a probably solid offer from Bernie, in the not too distant future we'll find out if they were right - I hope they were for the same reasons as Bernie.

Clearly, they can't afford to turn anything down. This from Reuters this morning:

The Honda Motor Company has announced that Chief Executive Officer Takeo Fukui will stand down in June, when he will be replaced by Senior Managing Director Takanobu Ito.

Ito, a 31-year Honda veteran, has been chief operating officer since 2007, while Fukui, who has led Honda for six years, will remain as an advisor to the company and continue to serve on its board.

The announcement was made at a press conference in Tokyo this morning, where Fukui, a keen racing fan, admitted that things are looking difficult for his company's former Formula One team.

"There are various offers for the team but we have not seen any serious buyer yet," he admitted. "We find the sale process difficult."

At the weekend, Richard Branson admitted that though he is eyeing F1, he would not consider entering the sport until various long-term conditions have been met. At the same time, Bernie Ecclestone claimed that his own

[Medilloni 6]

They will be on the grid in Melbourne. Rest thy beating heart. Couldn't resist that, saw you there Steph

[Quiet One 15]

Guess what? Another rumour from a less than reputable source.

But one of these rumours must be true. I am betting on this one just because I am the one quoting it.

RealHondaF1.com understand a management buyout of the Honda Racing F1 team has been completed, with a change in the senior staff also taking place. With news of significant, but specific, job cuts, we expect to see an official announcement on the future of the team this evening or early tomorrow morning. Our sources indicate to us that the most significant change to the management will be the exit of Nick Fry, who we believe has been looking for a senior role in another sport in recent months. A further senior staff member is also thought to have exited the team.

Job cuts, whilst unfortunate, are to be expected. Our understanding is the test team and engine groups have been disbanded, something that makes sense with the supply of Mercedes engines being serviced by their own staff, whilst the in-season ban on testing means the test teams at many of Honda

[Medilloni 6]

Guess what? Another rumour from a less than reputable source.

But one of these rumours must be true. I am betting on this one just because I am the one quoting it.

Source

-------------------------------------------------------------

Everybody loses. I like those movie endings....

Bah humbug, harbinger of misery Andres

Never mind that silly art-tickle, it's not reputable like wot I am, they will be on the grid in Melbourne, the car has run with a Merc injun and it's ready to go. So there.

[Insider 0]

'Is it a done deal' I am hearing from an ex-colleague at Enstone. Honda Motor Co have accepted the buy-out bid. This guy's daughter is having a relationship with a member of the Brackley staff. That's what I know.

[Fed up 0]

'Is it a done deal'......That's what I know.

Now, where have I heard that before.

Honda Racing's hopes of Formula One survival suffered a blow on Monday when their Japanese chiefs said they could not see a 'serious buyer' for the team.

After months of speculation about the future of the outfit, with most recent rumours suggesting Richard Branson could get involved, hopes for an imminent deal were dashed with Honda saying that there had been little joy in trying to find someone to take control of the outfit.

Honda's outgoing CEO Takeo Fukui told a press conference in Tokyo, following board meetings in Japan, that the company may have trouble finding a buyer having made little progress since it put the team up for sale in December.

"There are various offers for the team but we have not seen any serious buyer yet," Fukui was quoted as saying by Reuters. "We find the sale process difficult."

Fukui's comments add fresh intrigue to what is going on at Honda Racing, after Formula One supremo Bernie Ecclestone told the News of the World on Sunday that team chiefs Nick Fry and Ross Brawn had turned down a 100 million pound offer to help save the outfit.

"I tried to help with the management buy-out," said Ecclestone. "They should have taken what I offered. It was a very good offer for everybody concerned. It gave them complete protection but they wanted to do things on their own. Now all we can do is hope and pray."

Time is running out for Honda to find a buyer for the team, with engine supplier Mercedes-Benz reported to need guarantees by the end of Monday that the team have funds in place before it commits to a deal for 2009.

Honda Racing have maintained silence for weeks now about the state of negotiations, with a team spokeswoman merely saying last week that the outfit remained 'optimistic' they would be on the grid in Melbourne.

The Honda Motor Company also announced on Monday that Fukui, a big supporter of motorsport, would be stepping down from his role as CEO in June. He will be replaced by senior managing director Takanobu Ito.

[Insider 0]

Now, where have I heard that before.

Honda's CEO was clearly referring to third party interest. That was my reading of it, anyway.

[The Rumble Strip 0]

That was also my take on it.

[mikathegreat2 2]

Oh come on!

[Fed up 0]

Oh come on!

Exactly!

I don't see any ambiguity in this statement

There are various offers for the team but we have not seen any serious buyer yet

[Jean Todt 4]

Feb.24 (GMM) Honda Motor Co.'s incoming chief executive has left the door open to the struggling Japanese manufacturer returning to formula one in the future.

Under the stewardship of departing CEO Takeo Fukui and amid the brunt of the global financial crisis, Honda decided to pull out of the sport after the 2008 season, citing the need to "protect its core business activities".

But with Takanobu Ito set to take over in June, the future Honda CEO and president insisted that elite motor racing is "very challenging but also fun".

"Unfortunately, our company has a slight cold right now. But we would like to cure this cold as quickly as possible and work towards reaching that happiness (of racing)," the 55-year-old explained in a press conference in Tokyo.

Honda contested grands prix as a standalone manufacturer in 1963-1968 and 2005-2008, but achieved its greatest success as a F1 engine supplier in the 80s and 90s.

http://www.f1complete.com/content/view/11478/900/

[Max Mosley 2]

Honda sucks.

[Quiet One 15]

Honda sucks.

I agree with you. makes me feel kind of dirty.

[Max Mosley 2]

You should. Agree with me too easily, and no one will respect you in the morning.

[Kopite Girl 0]

They will be on the grid in Melbourne. Rest thy beating heart. Couldn't resist that, saw you there Steph

You know me too well, Meds.

[Medilloni 6]

Honda sucks.

Indeed, their knee-jerk (non) decision making is remarkable.

Further, my BBQ flavour HP Sauce says a huge part of the hesitation is the fear that the 'new' team will embarrass the hell out of the obscene past behaviour and results of the old lot.

[mikathegreat2 2]

That article is a bit off topic cos the guys just talking about the history of Honda & their success as an engine supplier, not about whether they'll be bought out by Virgin or not & it's less than a month till Melbourne!