04-Dec-08: Reports Suggest Honda to Withdraw from F1

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It’s the 4th December 2008, and you’re listening to F1 Minute.

Rumours suddenly began circulating today that there were problems at Honda. The automotive company has seen a downturn in sales, and it was already mentioned that Christmas parties were cancelled, but things appear to have got a lot more serious. Pitpass is reporting that an emergency meeting took place at the Honda factory in Brackley, where employees learned that the company are withdrawing from F1 by March 2009. Now, this isn’t confirmed, but Pitpass appear to have a lot of information from inside sources. Honda want to sell the team, and claim to have two potential buyers, but if they can’t sell before the March deadline, then the team will fold. Honda are stepping away from the sport completely, not even continuing as an engine supplier.

For the staff, there will be no forced redundancies, although volunteers are welcome, and it appears many employees have been talking to other teams, hoping for work elsewhere.

That’s it for today, please join me again tomorrow for another F1 Minute.