Honda confirms F1 exit

[Nomi929]

Honda have announced their immediate withdrawal from Formula One, the Japanese manufacturer's president and CEO Takeo Fukui confirmed on Friday morning. After a night of frenzied speculation about the future of the Honda Racing team, Fukui told a hastily called press conference in Tokyo that difficult financial conditions had forced the company to make the decision.
"Honda must protect its core business activities and secure the long term as widespread uncertainties in the economies around the globe continue to mount," he said. "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 One participation.
"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."


On the other hand, Honda Racing CEO Nick Fry and team principal Ross Brawn are 'deeply committed' to finding a buyer to save the team, a senior figure within the Brackley-based outfit has confirmed.


It is understood Brawn has already addressed the team staff to say that potential buyers have been lined up, and sources suggest moves are being made to secure a supply of customer Ferrari engines for 2009.

[TsAr]

Honda is back as but with different name and owner

[960bhp]

I was a huge Honda fan for last 15 years and when they decided to exit I decided not to watch F1 anymore... Since then Brawn bought the team and made a deal with Mercedes for engines and they are setting tracks ablaze with there speed in testing.

All F1 teams have acknowledged that they are leaps and bounds in front of everyone and they will fight for victory between themselves in Melbourne. Chassis BGP001 is effectively Honda RA109 but only with different engine which actually they had to made a compromise so if it was Honda engine it wouldve been even better for them. I am too sad, probably this car will win WCC and all the work and money Honda put into it wont count towards them. They are still funding the team with 100 million USD given to Brawn. I wish them good luck this year and will definitely cheer for them as they have Honda DNA in them