BAR Honda news
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BAR Honda news
Just saw this on F1-live.com
Originally Posted by F1-live
Sometime in the next 12 months...
The highflying BAR Formula One team looks set to have their engine supplier Honda either become its outright owner or buy a large stake in them according to the BBC on Wednesday.
While Honda has supplied engines to BAR for four years a deal to buy them is said to have been agreed, but the BBC's sources differ on whether Honda will buy BAR outright or become a part owner with a 40 percent shareholding. However BAR team principal David Richards - who guided the team to their most successful season last term where they finished runners-up in the constructors championship behind Ferrari despite not winning a race - is expected to leave and be succeeded by managing director Nick Fry.
The team would retain its two drivers, England's Jenson Button and Japan's Takuma Sato. Honda would not comment on the report but if it came about it would be the first time since 1968 that they have owned a Formula One team owner. However they enjoyed a purple patch as an engine supplier first with Williams in the 1980's and then McLaren in the early 1990's before leaving the sport until returning to supply BAR in 2000.
Fry could not confirm the report. "There is nothing we can say at this stage," he said.
However it is known that Richards told fellow team principals last week he he was unable to agree any proposals for rule changes because the team was being sold and he had to report back to Honda. "Honda will buy the team eventually - some time in the next 12 months," a source close to BAR told the BBC. Another source close to the England-based team said Honda would not acquire an outright controlling interest.
"My understanding is that Honda is going to buy a percentage of BAR, but not a controlling interest. There is a deal done, but there are some loose ends to tie up."
While the team's co-founder Adrian Reynard, who retains a minority shareholding, told the BBC that him and the rest of the board had not been informed of such a move.
"I hold two seats on the board, but this has not been a board subject, and the co-owners ought to know something about it. It wasn't even discussed at the last board meeting and I don't know if it's going to be discussed at the next one, which is on Monday."
However he said he would be delighted if it came true. "I can tell you it has always been my dream that Honda acquires either part or all of the BAR F1 team, because I knew [owner and tobacco giant] BAT's tenure was always going to be limited.
"I believed Honda was a perfect fit - it's a great company - and would dearly love it to be the caretaker of the team, so I am totally supportive of this happening."
The highflying BAR Formula One team looks set to have their engine supplier Honda either become its outright owner or buy a large stake in them according to the BBC on Wednesday.
While Honda has supplied engines to BAR for four years a deal to buy them is said to have been agreed, but the BBC's sources differ on whether Honda will buy BAR outright or become a part owner with a 40 percent shareholding. However BAR team principal David Richards - who guided the team to their most successful season last term where they finished runners-up in the constructors championship behind Ferrari despite not winning a race - is expected to leave and be succeeded by managing director Nick Fry.
The team would retain its two drivers, England's Jenson Button and Japan's Takuma Sato. Honda would not comment on the report but if it came about it would be the first time since 1968 that they have owned a Formula One team owner. However they enjoyed a purple patch as an engine supplier first with Williams in the 1980's and then McLaren in the early 1990's before leaving the sport until returning to supply BAR in 2000.
Fry could not confirm the report. "There is nothing we can say at this stage," he said.
However it is known that Richards told fellow team principals last week he he was unable to agree any proposals for rule changes because the team was being sold and he had to report back to Honda. "Honda will buy the team eventually - some time in the next 12 months," a source close to BAR told the BBC. Another source close to the England-based team said Honda would not acquire an outright controlling interest.
"My understanding is that Honda is going to buy a percentage of BAR, but not a controlling interest. There is a deal done, but there are some loose ends to tie up."
While the team's co-founder Adrian Reynard, who retains a minority shareholding, told the BBC that him and the rest of the board had not been informed of such a move.
"I hold two seats on the board, but this has not been a board subject, and the co-owners ought to know something about it. It wasn't even discussed at the last board meeting and I don't know if it's going to be discussed at the next one, which is on Monday."
However he said he would be delighted if it came true. "I can tell you it has always been my dream that Honda acquires either part or all of the BAR F1 team, because I knew [owner and tobacco giant] BAT's tenure was always going to be limited.
"I believed Honda was a perfect fit - it's a great company - and would dearly love it to be the caretaker of the team, so I am totally supportive of this happening."
