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[evilowl]

http://news.sky.com/skynews/Home/Busine ... ormula_One

Honda is expected to make a formal announcement on its future in Formula One on Friday.

However, Sky News understands the company is pulling out of the sport with immediate effect.

Honda's 750-strong staff heard the news at a meeting.

They were told that unless a buyer could be found by the end of December, the team would be wound up and not compete in next year's Championship.

Well played [s]Tim Henman[/s] err I mean Jenson Button

[Lucky7]

Flippity flop. I didnt see that coming.

Shame as i think they could have been serious contenders in the next year or two.

[Lucky7]

CTRO group buy anyone?

[Newannaive]

I have a feeling he won't actually sign on though...

[kingofdbrits]

Holy crap!!

Honda didn't develop last years car as they put everything into this years car (supposedly) so i'm pretty shocked to hear they're pulling out entirely!!

Looks like F1 is going down the pan, which isn't a bad thing in its current guise.

Hopefully they'll set up a rival competition and others will follow.

[adam.]

A1 GP FTW.

[kingofdbrits]

A1 GP FTW.

GTFO

[Lucky7]

A1 GP FTW.

GTFO

+1

[Newannaive]

A1 GP FTW.

GTFO

+1

+2

[EvoStu]

Holy crap!!

Honda didn't develop last years car as they put everything into this years car (supposedly) so i'm pretty shocked to hear they're pulling out entirely!!

Looks like F1 is going down the pan, which isn't a bad thing in its current guise.

Hopefully they'll set up a rival competition and others will follow.

The rumours going round at the moment are that Honda F1 have simply run out of finance and its parent company are unwilling to pour any money into it in the current financial climate in the auto industry.

Its a shame but I don't think it will be the last of the teams to fold. I have to say I'm shocked its happened so quickly.

EvoStu.

[kingofdbrits]

IIRC Jenson Button was the second highest earner behind Kimi, i also doubt Ross Brawn came cheap. Won't Honda have to pay off their contracts too?

[evilowl]

I must admit I wasn't surprised at all. Given the fact that F1 costs them millions and millions every year, I don't think they wanted to face telling staff that they were being made redundant and at the same time pumping millions into Jenson coming in 15th (as usual)

[AndyChad]

IIRC Jenson Button was the second highest earner behind Kimi, i also doubt Ross Brawn came cheap. Won't Honda have to pay off their contracts too?

Statutory Govternment redundancy!

[illeagalhunter]

He is pish anyway

[sn:afu]

I was shocked to hear this on the news before, maybe if they'd had some sponsors on the car they might have carried on

[kingofdbrits]

Honda did so badly because Ross Brawn immediately saw that their 2008 car had some fundamental design flaws so all development stopped, they called it something like a dog.

I bumped into the chief chassis designer in my local pub a while back ( he's a neighbour of mine) and while quizzing him on a few things he tried telling me the problem, it was a bit technical (so very long winded) but basically the car was poo and they knew it and no amount of development could get them challenging the lead in the time scale they had so they cut their losses and stumbled their way through the season while pumping what (apparently little) money they had left to developing next years car.

That's why i'm so shocked, they knew this year was a wash out before it began. Maybe the money they had set aside has had to be used else where due to the current car market?

[rodanmk2]

No surprise.

Motor industry is fubar. Nothing is a surprise anymore.

[Lucky7]

All they had to do was paint the car Milano and maybe they would have won some races. :thumbup:

[RickHondaR]

The point that some people are missing is TBH this could happen to any of us in the morning, and unlike Jenson we dont have a lot of 00000's on our bank balance

[Lucky7]

The point that some people are missing is TBH this could happen to any of us in the morning, and unlike Jenson we dont have a lot of 00000's on our bank balance

Wont happen to me.


I'm Awesome :thumbup: