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Author Topic: Honda F1 - Virgin bid  (Read 1431 times)

Tom@Crewe

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Honda F1 - Virgin bid
« on: February 21, 2009, 12:19:33 pm »

Honda have confirmed that Richard Branson's Virgin Group have tabled a bid to buy the Formula One team.

Reports on Wednesday morning suggested the British billionaire's company were interested in buying out Honda Racing, and the team have now confirmed the group or one of several potential buyers.
"We are negotiating with several buyers and one of these parties is the Virgin Group," a Honda spokesman said.

Reports suggest Branson would require just 1 to buy the team, but the businessman would then need to fork out another 40million if Honda are to roll onto the starting grid at the season-opener in Australia.

It was believes that the team's chief executive Nick Fry together with team principal Ross Brawn and three other Honda Racing executives were lining up a management buyout, but those plans seem to have been scrapped following the reported interest from Virgin.

It is not the first time Branson has been tied to F1, with Virgin Mobile having sponsored Jordan in 2002, while Virgin Atlantic Japan have sponsored driver Takuma Sato for many years.
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Proteus

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Re: Honda F1 - Virgin bid
« Reply #1 on: February 21, 2009, 12:42:57 pm »

 Richard Branson was on Sky news this morning an was very non commital about it he would not even say if he was interested, but the way he smiled when asked gave it away.

http://www.crash.net/Formula+One/News/143210/1/branson_coy_on_virgin_to_f1_rumours.html


http://www.autosport.com/news/report.php/id/73376
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nhp651

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Re: Honda F1 - Virgin bid
« Reply #2 on: February 21, 2009, 01:04:58 pm »

40 million............... pocket money to richard. {-) {-) %%
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tobyker

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Re: Honda F1 - Virgin bid
« Reply #3 on: February 22, 2009, 12:05:19 am »

Q. What's the fastest way to become a millionaire?

A. Be a billionaire and buy either an airline, or an F1 team.
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Bryan Young

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Re: Honda F1 - Virgin bid
« Reply #4 on: February 22, 2009, 09:02:47 pm »

Q. What's the fastest way to become a millionaire?

A. Be a billionaire and buy either an airline, or an F1 team.
Buying a bank in Antigua seems to be a pretty good wheeze. BY.
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Notes from a simple seaman

hopeitfloats

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Re: Honda F1 - Virgin bid
« Reply #5 on: February 23, 2009, 05:32:16 am »

who were the investors bernie eccelstone was tied up with that honda rejected their offer.
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Proteus

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Re: Honda F1 - Virgin bid
« Reply #6 on: February 25, 2009, 10:13:48 pm »


Its nice to see the nice chaps from across the water have not got delusions of grandeur, they did invent the Harrier , hovercraft, computer, etc (according to the American discovery channel anyway)  <*<  now its all F1 technology , well there teams have done so well in the past  {-)


 USF1 chief: Most F1 technology from America anyway
 
http://www.crash.net/Formula+One/News/143336/1/usf1_chief_most_f1_technology_from_america_anyway.html


Proteus
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malcolmfrary

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Re: Honda F1 - Virgin bid
« Reply #7 on: February 26, 2009, 01:29:32 pm »

I hope he knows that he will be up against a company with a liking for red cars, and unlike the bike makers we see on Discovery, he will be unable to compete with a vehicle constructed from scaffolding pipe.
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"With the right tool, you can break anything" - Garfield

KEMO

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Re: Honda F1 - Virgin bid
« Reply #8 on: February 26, 2009, 01:51:40 pm »

Hiya,
      I read today that it is the Ross Braun and Nick Fry partnership that  has won it.

Keith.
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