Days Left for Honda F1 Rescue

Well, after the recent video from Jensen Button regarding his racing fitness, the decision time for his future and that of the previously Honda-backed F1 team is looming.

The deadline for decisions on the future of the Honda F1 team buyout is Monday according to team principal Ross Brawn. While  the Honda Motor Co. board need to have approved a deal by the 28th, Mercedes-Benz supplied the engines for the team and have said that the 23rd is the deadline for the first payment. No payment and it’s time to return the engines.

It was a bit of a shock when Honda pulled out financing for their team and potential buyer names bandied around have included the Virgin Group and management buyouts.  

Problem is, with the complications and haste of decision requirements it’s all looking a bit complicated. Will potential buyers be put off by the face that they’re buying a team with payments on key components due in a matter of days. And all a matter of weeks before the season starts.

It’s strange to think that what used to look like a playground for millionaires has been so heavily hit by the recession and given the huge wages commanded by the drivers it’s even stranger to think of them being affected by the financial climate. 

I suppose nobodies job is really that safe even if it was one seen as ideal by so many millions of schoolboys and car lovers. I’m still keeping my fingers crossed that Button gets to race more than a Honda Civic around in 2009.


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