Posts Tagged ‘formula one’

I’d like to think I played some small part in this given my statement that buyers for Honda’s F1 team could be “put off by the fact that they’re buying a team with payments on key components due in a matter of days,” but I doubt it.

Well, this is the news: Mercedes-Benz look like they’re willing to hang on as long as possible before finalising their 2009 supply deal which has given fresh impetus to the management buyout plan.

That Mercedes-Benz seem to be doing all they can to support the aililng Honda F1 team if only by not demanding payments and deals to be settled, shows that there really is still an element of honour and sportsmanship in Formula One.

There’s still loads of rumours for potential buyers but the management buyout is the strongest likelihood. If all goes to plan there may still be time for some pre-season testing and a Mr Button to be sat behind the wheel of a Honda F1 car in Brisbane for the Australian GP rather than a Civic in his local Morrison car park. Or his couch.   

Fingers crossed then.

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.

So the news today tells me that Jenson Button has said he remains “hopeful” that he’ll be sat behind the wheel of a Honda on the grid in Australia when the next Formula One season kicks off.

I have to admit I feel something resembling pity for Button. At one point he was the nation’s glimmering hope: a potential British Formula One Champion and then.. well, it all went a bit Tim Henman on him and he seems to have vanished in the heat haze of Lewis Hamilton. Then Honda put their team up for sale a couple of months ago and now all the other figure-hugging seats on the F1 grid have been filled so if Honda’s bid to find a rescue fail he’ll be watching the season from his sofa, albeit it a presumably very expensive and comfy one.

Well, slim as chances are and despite warnings from David Coulthard that he may fail to get back into the game if he misses a 2009 seat, Button seems up-beat and has been continuing his usual regime and a video on his personal site (if you’re not a fan it may induce vomit) has him stating his got his “fingers crossed” to be racing come the end of March.

Let’s hope that March 29 sees him racing an F1 Honda round the track rather than racing a Honda Civic around his local ring-road.