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Thread: Honda Quitting F1

  1. #1
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    Default Honda Quitting F1

    http://www.grandprix.com/ns/ns21017.html

    "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."

    Poor old Jensen!

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    rmdferrari is offline Crop rotation in the 14th century was CONSIDERABLY more widespread after John... Banned user
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    Pity. Jenson had been saying he was pinning his hopes on Honda providing a great car in a few years.

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    Got to say ... it had to happen at some point. The economic recession is affecting every walk of life and in every country. With the over excess that is common in racing circles, and 10 times more so in F1, something had to give.

    Could it be that the Mosley/Ecclestone plight to reduce costs, may have come too late?

    For Honda, it certainly appears so. They did however, have a very poor season - and in F1, points make prizes (money). But with Ross Brawn there, you had to hope next season would see some form from Honda.

    Time will tell if the economy affects other F1 teams. We all hope not ...but you never know.

    Looks like Nick Fry won't be able to go back to his former job at Aston Martin either as 600 are being laid of there too! Oh dear! Fingers crossed for everyone.

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    just hearing on BBC budget was close to 500mill - I would want a return on that too !! Hope this isnt the start of a landslide in F1 withdrawals for next season - still, Bigmoose may be along shortly to announce his new team as soon as negotiations have concluded

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    t1grm is offline It's basically an old car with a stripe - The Ferrari Challenge Stradale Club Member
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    I got an SMS off Orange updates about this. Honda ruined the careers of two drivers through false promises IYAM Ė Button and Villeneuve Jr. Quite frankly itís disgraceful the amount of cash theyíve pi$$ed up the wall with no results. Itís the same with Toyota. IMHO Itís no coincidence that in both cases theyíve decided to set up a new team from scratch rather than buy up an existing team and rebrand it. Having worked for a Japanese company before, its Japanese arrogance at its best.

    P.S. Before you ask, I know Honda used to be BAR but, it was still a fledgling team with no pedigree when Honda bought it so itís tantamount to starting a team from scratch rather than buying up someone like Williams.

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    Sad if it turns out this way, know a fair few guys who work there from my McLaren days. I can totally understand why it happens as the money involved is immense.

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    Iain is offline Overpriced piece of old tat - Ferrari 250 GTO Club Member
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    Quote Originally Posted by t1grm View Post
    P.S. Before you ask, I know Honda used to be BAR but, it was still a fledgling team with no pedigree when Honda bought it so itís tantamount to starting a team from scratch rather than buying up someone like Williams.
    BAR was originally Tyrell so the team has a long lineage......

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    Iain is offline Overpriced piece of old tat - Ferrari 250 GTO Club Member
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    Quote Originally Posted by The Driving Doctor View Post
    Got to say ... it had to happen at some point. The economic recession is affecting every walk of life and in every country. With the over excess that is common in racing circles, and 10 times more so in F1, something had to give.

    Could it be that the Mosley/Ecclestone plight to reduce costs, may have come too late?

    For Honda, it certainly appears so. They did however, have a very poor season - and in F1, points make prizes (money). But with Ross Brawn there, you had to hope next season would see some form from Honda.

    Time will tell if the economy affects other F1 teams. We all hope not ...but you never know.

    Looks like Nick Fry won't be able to go back to his former job at Aston Martin either as 600 are being laid of there too! Oh dear! Fingers crossed for everyone.
    Given that costs are coming down, Could Dave Richards dive in and take it? The news said tonight that £1 will buy the team. (Note to CS committee, no more unauthorised purchases please!)

    Honda would still be able to supply engines on a commercial basis - there is basically no engine development so the thing is on the shelf & ready to go..

    Toyota have to be a candidate to go next - or maybe BMW. BMW is a privately held company & they have to be hurting now. Some interesting tidbits floating around about how deep the doo-doo BMW finance are in is.

    To be fair to Honda, the global downturn in the car business has been brutal & worse than anyone predicted. Indeed that industry is probably running on a par with construction in terms of how badly its been hit. The difference being that they have massive investment in infrastructure and factories not to mention valuable (but perishable) inventories. Tens of millions of dollars worth of cars are piling up on the docks in the US. Honda's sales are off 30+%. A lot of the construction business is all about the labour - especially at the small end - and that's not so hard to deal with.

    What Honda are doing signals just how bad they think its going to be and for how long as well. In six months they may very well look like the most foreward thinking and rational company in the industry. Still, its a nice problem to have (in comparison to what the CEOs of GM, Ford & Chrysler have been up to today).
    Last edited by Iain; 05-12-2008 at 01:23 AM.

  10. #10
    t1grm is offline It's basically an old car with a stripe - The Ferrari Challenge Stradale Club Member
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    Quote Originally Posted by Iain View Post
    BAR was originally Tyrell so the team has a long lineage......
    Oh yeah. Forgot about that I think Craig Pollock had a pretty good clean out when he took over though, no?

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