Wednesday, April 30, 2008

Honda Declines to Provide Any More Emergency Help to F1 Team Super Aguri

Widely known automobile engine manufacturer Honda has recently revealed that it will not provide any more emergency financial help to Japanese struggling Formula 1 team, Super Aguri. Honda has already given three million dollars to Super Aguri so that the team can take part in the Spanish Grand Prix. At this moment Super Aguri is in debt of 100 million dollars to Honda.

Super Aguri was founded in 2005 by former F1 Japanese racer Aguri Suzuki and the team is now going through a tough time in terms of performance and its financial situation is not good as well. The team received a blow when Britain’s Magma Group declined to buy Super Aguri. After four races so far this season, the team is yet to get their first point. Briton Anthony Davidson and Japan's Takuma Sato are the two drivers of the team.

AFP reported:

"We will not provide relief on a race-by-race basis any longer," a Honda official was quoted as saying.

Honda, which has its own Formula One team, and Super Aguri, which owes about 100 million dollars in debt to Honda, were to hold a "final" meeting on the issue on Wednesday, the report added.

No doubt, the team is struggling and I am doubtful how long the team can survive this way unless a company acquire it and invest a handsome amount to make bring out some successes for it. Now, the question is who are going to take the risk, while the team’s performance is not so satisfactory. Let us hope Super Aguri survives in F1 and success comes in its way in future.