F1 News, Views and Reviews

Honda Confirm Branson Interest And Offer For Team

The Honda F1 Team have confirmed that multi-billionaire businessman Sir Richard Branson is one of the front-running parites in the purchase of the team ahead of the 2009 season, and has put in an offer.

The owner of the Virgin group was said to be interested yesterday in a leak from the team, but today a spokesman confirmed the rumour.

“We are negotiating with several buyers and one of these parties is the Virgin Group,” a Honda spokesman stated.

“They [Virgin] have made a bid to purchase the team,”

Branson is expected to purchase the team for just £1, but needs to put at least £40million in for one season’s running.  It is believed that after purchase, Branson 58, would leave the running of the team to Nick Fry and Ross Brawn.

His Virgin group would be the leading sponsor on the car.

Branson has dabbled in F1 before, sponsoring Jordan in 2002, and then sponsoring Japanese driver Takuma Sato for the past 4 years with his Virgin Atlantic brand.  It is hot rumour that Sato would be one of the chosen drivers for the new team, alongside Brit Jenson Button.


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