Thursday, May 01, 2008

F1 Team Super Aguri Negotiating with Honda on More Financial Support

Formula One 1 team, Super Aguri is now going through a rough patch in terms of financial problem. The team is now negotiating with its sponsor Honda in getting more financial helps from the Japanese car maker. However, Honda has already declined to continue their emergency financial help for Super Aguri. Now, the team’s participation in the upcoming Turkish Grand Prix is in doubt as Super Aguri is currently running short of money. However, there is a ray of hope regarding the team’s participation in Turkish Grand Prix after news came out that Super Aguri cars were seen in Honda F1 factory. However, both Honda and Super Aguri are reluctant to comment on this regard.

Super Aguri was founded by former Japanese F1 driver Aguri Suzuki in 2005 and since then the team has never gone through good time so far. Its on track record is not satisfactory at all and this year they are yet to earn a point even after four races being completed already.

Reuters reported:

Honda have already said they are unwilling to continue supporting the team in addition to their own Honda F1 operation after helping Super Aguri through last weekend's Spanish Grand Prix.

In an intriguing twist however, a witness at the Honda F1 factory in Brackley told Reuters that the Super Aguri cars had turned up there.

Super Aguri is now in search for potential investors. The team was supposed to be owned by Dubai International Capital (DIC) and the Magma group but the takeover deal came to an end recently. The team also has 100 million dollar debt to Honda. So, naturally the team is finding it difficult to find investor. Now, let us see if Super Aguri could come out of this rough patch very soon and participate in the Turkish Grand Prix, set to start from May 11 2008.