Honda might be running on unstable ground....
Posted by Joe_Satriani
yes, this is the message that honda sent to its sponsors
"It is with regret that I am writing to inform you that at 13.30hrs Tokyo Time today (04.30hrs UK Time), Honda Motor Co. announced that they are pulling out from all Formula One activities at the end of the 2008 season.
We are currently evaluating the future. The management team led by CEO Nick Fry and Team Principal Ross Brawn is deeply committed to securing the team’s future and we are engaged in seeking a new team owner given the high expectations we had for 2009 under new technical leadership in addition to the world class facilities and people here at Brackley. We will keep you advised of our progress."
X (@ed24f1)
"It is with regret that I am writing to inform you that at 13.30hrs Tokyo Time today (04.30hrs UK Time), Honda Motor Co. announced that they are pulling out from all Formula One activities at the end of the 2008 season.
We are currently evaluating the future. The management team led by CEO Nick Fry and Team Principal Ross Brawn is deeply committed to securing the team’s future and we are engaged in seeking a new team owner given the high expectations we had for 2009 under new technical leadership in addition to the world class facilities and people here at Brackley. We will keep you advised of our progress."
X (@ed24f1)
9 teams left
when the last time that honda wasnt in f1?
when the last time that honda wasnt in f1?
so it took them from 1992 to 1999 to setup the team ??
Honda have pulled out before and F1 has survived. Bearing in mind the infrastructure they are leaving, i expect someone will step in and buy it before too long.
BAT takeover, anyone
BAT takeover, anyone
as much as rosberg and button in a williams would make my ultimate dream team, im not sure franky would welcome jense back so much.
nonetheless, feet in the door now if williams is suddenly competitive next season.
i wondered if someone like williams or even another team would look at merger deals, but probably not a financial option.
i do think its too good a chance to buy into honda, even if it is risky times, everything seems to be setup there and ready, even with brawn as manager. expect big paycuts, and you almost have there an all rounded team once the honda design fools jump off the boat.
Jenson drives it like he owns it; Lewis drives it like he stole it
nonetheless, feet in the door now if williams is suddenly competitive next season.
i wondered if someone like williams or even another team would look at merger deals, but probably not a financial option.
i do think its too good a chance to buy into honda, even if it is risky times, everything seems to be setup there and ready, even with brawn as manager. expect big paycuts, and you almost have there an all rounded team once the honda design fools jump off the boat.
time to allow for customer chassis?
Jenson drives it like he owns it; Lewis drives it like he stole it
Im a little confused, so thay can still sell the team or is it just over 
RenaultFan schreef:
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> Im a little confused, so thay can still sell the
> team or is it just over
Yes the team is for sale, so if you're interessed...
Quite shocked about this. Not so surprising that one team would have to leave, but Honda? They had one of the biggest budgets in F1.
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Bring back the racing
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> Im a little confused, so thay can still sell the
> team or is it just over
Yes the team is for sale, so if you're interessed...
Quite shocked about this. Not so surprising that one team would have to leave, but Honda? They had one of the biggest budgets in F1.
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Bring back the racing
ok....when the last time f1 have 18 cars on the grid
Edited 3 time(s). Last edit at 12/05/2008 11:39AM by SAMF1.
Edited 3 time(s). Last edit at 12/05/2008 11:39AM by SAMF1.
We've only had twelve hours since the news but already we have had three serious people come forward and say they are interested in buying us," Fry told BBC Radio Five Live.
Who's that I'd like to know.
The breaking news indeed was a shock yesterday, it's one thing to read about speculations, know something in advance, but this one was out of the blue, despite the current financial sitation.
The suddenness of this one is just one big -->
[www.planet-f1.com]
GPGSL career;
Current team: Team ShadowSubaru, Previous teams: MPR, Minardi
starts:100 Wins: 12, Podiums: 34, Fastest Laps: 14, poles: 12 Points: 708
winner of Belgian GP (s1), Australian GP (s1), Canadian GP (S1), Brazilian GP(s4, s5), Hungarian GP(s3), Italian GP(s3), French GP (s5,s7), Monaco GP (s4) and USA GP
Edited 1 time(s). Last edit at 12/05/2008 12:43PM by BAR#10.
Who's that I'd like to know.
The breaking news indeed was a shock yesterday, it's one thing to read about speculations, know something in advance, but this one was out of the blue, despite the current financial sitation.
The suddenness of this one is just one big -->
[www.planet-f1.com]
GPGSL career;
Current team: Team ShadowSubaru, Previous teams: MPR, Minardi
starts:100 Wins: 12, Podiums: 34, Fastest Laps: 14, poles: 12 Points: 708
winner of Belgian GP (s1), Australian GP (s1), Canadian GP (S1), Brazilian GP(s4, s5), Hungarian GP(s3), Italian GP(s3), French GP (s5,s7), Monaco GP (s4) and USA GP
Edited 1 time(s). Last edit at 12/05/2008 12:43PM by BAR#10.
Honda has confirmed it is quitting Formula 1 with immediate effect due to the impact the global financial crisis has had on its core car business.
The Japanese manufacturer has put its Brackley-based team up for sale and itv.com/f1 sources understand that if no buyer for the operation is found by March then the team will close before the start of the 2009 season.
Honda’s bombshell decision, the first reports of which emerged on Thursday evening, was confirmed by Honda Japan at a press conference in Tokyo on Friday morning.
The decision puts the futures of its 700-strong workforce, including team principal Ross Brawn, under threat and raises the possibility that Jenson Button and Rubens Barrichello could be without 2009 drives.
Honda, who have recently cut road car production in both Japan and Europe, says the global climate has forced it to make the tough decision to end its F1 involvement for the wider good of the firm.
“We, Honda Motor Co., Ltd., have come to the conclusion that we will withdraw from all Formula 1 activities, making 2008 the last season of participation,” Honda president Takeo Fukui said in a statement.
“This difficult decision has been made in light of the quickly deteriorating operating environment facing the global auto industry.
“Honda must protect its core business activities and secure the long term as widespread uncertainties in the economies around the globe continue to mount. A recovery is expected to take some time.
“Under these circumstances, Honda has taken swift and flexible measures to counter this sudden and expansive weakening of the marketplace in all business areas.
“However, in recognition of the need to optimize the allocation of management resources, including investment regarding the future, we have decided to withdraw from Formula 1 participation.”
Fukui added it will now look to sell on its F1 operation, adding: “We will enter into consultation with the associates of Honda Racing F1 Team and its engine supplier Honda Racing Development regarding the future of the two companies.
“This will include offering the team for sale.”
The decision brings to an end the Japanese carmaker’s eight-year involvement with the Brackley squad having initially been an engine supplier to BAR for five years.
After buying a 45% share in the team in 2004, Honda fully bought out former owners British American Tobacco in September 2005 and the team ran under the Honda name from the following season.
However despite being one of the biggest and best funded teams on the grid, it had failed to make a breakthrough at the front of the field with just Jenson Button’s single win at the Hungarian Grand Prix in 2006.
During the last two seasons it has slumped towards the back of the grid, finishing ninth in this year’s constructors’ championship, but was anticipating a big step forward in 2009 following Brawn’s appointment as team boss last November.
Fukui admitted it had been a difficult decision to make to pull Honda out of F1 before achieving its goals as a team owner and he thanked both it’s staff and fans for their support of the project.
“Surmounting many challenges, the Honda Team achieved a grand prix victory in 2006, enabling Honda to receive overwhelming support from Honda fans around the world that were looking forward to greater success,” he said.
“It, therefore, has been an extremely difficult decision for us to come to this conclusion without having been able to fully meet the expectations of our fans.
“By making the best of what we have learned during these times of economic turmoil, coupled with the spirit of challenge gained through active participation in racing, we intend to continue with our commitment in meeting new challenges.
“Finally, we would like to take this opportunity to sincerely thank our fans and all those who have supported Honda's Formula 1 efforts, including everyone in the world of Formula 1."
LS's Tip of the week
ESSENTIAL OILS aren't essential unless you're an engine, a gearbox or a twat
The Japanese manufacturer has put its Brackley-based team up for sale and itv.com/f1 sources understand that if no buyer for the operation is found by March then the team will close before the start of the 2009 season.
Honda’s bombshell decision, the first reports of which emerged on Thursday evening, was confirmed by Honda Japan at a press conference in Tokyo on Friday morning.
The decision puts the futures of its 700-strong workforce, including team principal Ross Brawn, under threat and raises the possibility that Jenson Button and Rubens Barrichello could be without 2009 drives.
Honda, who have recently cut road car production in both Japan and Europe, says the global climate has forced it to make the tough decision to end its F1 involvement for the wider good of the firm.
“We, Honda Motor Co., Ltd., have come to the conclusion that we will withdraw from all Formula 1 activities, making 2008 the last season of participation,” Honda president Takeo Fukui said in a statement.
“This difficult decision has been made in light of the quickly deteriorating operating environment facing the global auto industry.
“Honda must protect its core business activities and secure the long term as widespread uncertainties in the economies around the globe continue to mount. A recovery is expected to take some time.
“Under these circumstances, Honda has taken swift and flexible measures to counter this sudden and expansive weakening of the marketplace in all business areas.
“However, in recognition of the need to optimize the allocation of management resources, including investment regarding the future, we have decided to withdraw from Formula 1 participation.”
Fukui added it will now look to sell on its F1 operation, adding: “We will enter into consultation with the associates of Honda Racing F1 Team and its engine supplier Honda Racing Development regarding the future of the two companies.
“This will include offering the team for sale.”
The decision brings to an end the Japanese carmaker’s eight-year involvement with the Brackley squad having initially been an engine supplier to BAR for five years.
After buying a 45% share in the team in 2004, Honda fully bought out former owners British American Tobacco in September 2005 and the team ran under the Honda name from the following season.
However despite being one of the biggest and best funded teams on the grid, it had failed to make a breakthrough at the front of the field with just Jenson Button’s single win at the Hungarian Grand Prix in 2006.
During the last two seasons it has slumped towards the back of the grid, finishing ninth in this year’s constructors’ championship, but was anticipating a big step forward in 2009 following Brawn’s appointment as team boss last November.
Fukui admitted it had been a difficult decision to make to pull Honda out of F1 before achieving its goals as a team owner and he thanked both it’s staff and fans for their support of the project.
“Surmounting many challenges, the Honda Team achieved a grand prix victory in 2006, enabling Honda to receive overwhelming support from Honda fans around the world that were looking forward to greater success,” he said.
“It, therefore, has been an extremely difficult decision for us to come to this conclusion without having been able to fully meet the expectations of our fans.
“By making the best of what we have learned during these times of economic turmoil, coupled with the spirit of challenge gained through active participation in racing, we intend to continue with our commitment in meeting new challenges.
“Finally, we would like to take this opportunity to sincerely thank our fans and all those who have supported Honda's Formula 1 efforts, including everyone in the world of Formula 1."
LS's Tip of the week
ESSENTIAL OILS aren't essential unless you're an engine, a gearbox or a twat
Bernie Ecclestone says Honda’s demise has given Formula 1 a “wake-up call” and it must now act decisively to substantially decrease costs in the sport.
The Japanese manufacturing giant announced on Friday morning the shock news that it was pulling out of F1 with immediate effect and has puts its Brackley-based operation up for sale.
Honda cited its plummeting car sales amid the global financial downturn as the reason for its sudden decision to pull the plug on its team, with the car maker having already cut vehicle production at its Japanese and European factories.
Ecclestone, along with FIA president Max Mosley, has been pushing for a drastic cut in spending levels, including the proposal of standard engines and parts, in recent months and says Honda’s plight should act as a warning to overspending teams.
“This is a wake-up call,” he told Sky News.
“We have been campaigning for quite a long time now to try and reduce the necessity to spend vasts amounts of money to be competitive.
“The bottom line is very simple, what I’m saying is if you or I wanted to run a Formula 1 team we wouldn’t need to have to spend what they are spending at the moment – probably to a £100million to do it.”
Ecclestone also took a swipe at the bosses controlling spending at the F1 teams, saying: “The trouble is the teams are basically run by technicians who really should be at home playing with their PlayStations rather than spending fortunes.”
Honda’s withdrawal announcement came a day after the Formula One Teams’ Association (FOTA) met in London to discuss cost-cutting measures which it could present to Mosley later this month.
However, while fears have grown that another manufacturer or independent team could follow Honda in pulling out of F1, Ecclestone insists that while times are tough the future of the sport as a whole is safe.
"F1 is in no bigger crisis than any other company in the world at the moment but the world won't stop, that's for sure," he told the BBC.
LS's Tip of the week
ESSENTIAL OILS aren't essential unless you're an engine, a gearbox or a twat
The Japanese manufacturing giant announced on Friday morning the shock news that it was pulling out of F1 with immediate effect and has puts its Brackley-based operation up for sale.
Honda cited its plummeting car sales amid the global financial downturn as the reason for its sudden decision to pull the plug on its team, with the car maker having already cut vehicle production at its Japanese and European factories.
Ecclestone, along with FIA president Max Mosley, has been pushing for a drastic cut in spending levels, including the proposal of standard engines and parts, in recent months and says Honda’s plight should act as a warning to overspending teams.
“This is a wake-up call,” he told Sky News.
“We have been campaigning for quite a long time now to try and reduce the necessity to spend vasts amounts of money to be competitive.
“The bottom line is very simple, what I’m saying is if you or I wanted to run a Formula 1 team we wouldn’t need to have to spend what they are spending at the moment – probably to a £100million to do it.”
Ecclestone also took a swipe at the bosses controlling spending at the F1 teams, saying: “The trouble is the teams are basically run by technicians who really should be at home playing with their PlayStations rather than spending fortunes.”
Honda’s withdrawal announcement came a day after the Formula One Teams’ Association (FOTA) met in London to discuss cost-cutting measures which it could present to Mosley later this month.
However, while fears have grown that another manufacturer or independent team could follow Honda in pulling out of F1, Ecclestone insists that while times are tough the future of the sport as a whole is safe.
"F1 is in no bigger crisis than any other company in the world at the moment but the world won't stop, that's for sure," he told the BBC.
LS's Tip of the week
ESSENTIAL OILS aren't essential unless you're an engine, a gearbox or a twat
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