Wednesday 18th February 2009

Branson Bids for Honda F1 Team

Honda may enter Virgin territory

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Richard Branson’s Virgin Group has made a bid for the Honda Formula 1 team, according to a Reuters report that hit the newswires this morning.

Virgin has yet to comment on the report, but Reuters claims its story has been confirmed by an unnamed source close to Honda in Japan.

If true, the latest revelation looks to be a spanner in works for rival buy-out plans proposed by existing Honda F1 team management – led by Nick Fry, Ross Brawn and three other senior executives.

Virgin Group first dabbled in F1 in 2002 when Virgin Mobile sponsored Team Jordan, and Virgin Atlantic Japan have a long-standing commercial relationship with Takuma Sato, the Japanese Former F1 driver who also has strong links with Honda. Additionally, Richard Branson is said to be a friend and business associate of Adrian Reynard, the original co-founder of the BAR (Honda) team, although Reuters says its source doesn’t know if Reynard is involved in any possible Virgin takeover.

With the new F1 season due to start in a little over a month, the pressure is on Honda to take an early decision on the future of its Brackley-based F1 outfit.

With Jenson Button still ready to start for the Honda team at Melbourne in March, any involvement from Virgin could reap PR dividends for the self-proclaimed ‘British national flag carrier’.

[Barry Ashcroft]

If true it's great news. He has deep enough pockets.

[Steff]

nice bit of free publicity for Branson but really the chances of it happening are slim to f**k all.

[jayxx83]

go on branson!!

[RJE1966]

F1 Richard, have you seen it?
Just look at it Richard.

Edited by RJE1966 on Wednesday 18th February 11:53

[Munter]

I'd say it's a story virgin on make believe.

Branson doesn't have a record of flying in to save a business does he?

[flemke]

Is there not something odd about calling a company "Virgin Atlantic Japan"?

[dirty boy]

Branson is one of those types who likes to have a go at something and succeed where others didn't, effectively the Honda situation is right up his street.

I met the guy about 10 years ago (albeit briefly) when he took over a company I used to do the audit on. Nice chap.

Would love to see him make it work.

[cs02rm0]

Pigs flying honda horizon...

[Munter]

dirty boy said:

Branson is one of those types who likes to have a go at something and succeed where others didn't, effectively the Honda situation is right up his street.

I met the guy about 10 years ago (albeit briefly) when he took over a company I used to do the audit on. Nice chap.

Would love to see him make it work.

I thought he normally started "fresh" in each market though. Rather than buy a failing but cheap business and the associated costs. If someone said he wants to be involved with USF1 I'd believe that.

[BoRED S2upid]

Is there enough time for anyone to come in and save Honda before the start of the new season and be able to go racing? do they have a car built? they can't run the old one due to the new rules and changing the old car to meet new regs would make it crap when every other team have spent months redesigning the car for 09-10.

[jon-]

Steff said:

nice bit of free publicity for Branson but really the chances of it happening are slim to f**k all.

Considering yesterday a Virgin spokes person claimed it was Honda that approached Virgin, not the other way around I think you're optimistic with your chances!

[robert_raw]

I hope this goes ahead, would really like to see a honda on the starting grid next year

[Frimley111R]

BoRED S2upid said:

Is there enough time for anyone to come in and save Honda before the start of the new season and be able to go racing? do they have a car built? they can't run the old one due to the new rules and changing the old car to meet new regs would make it crap when every other team have spent months redesigning the car for 09-10.

I have the impression that things are continuing, albeit at a slower pace. If the team falls too far behind no-one will want it. Honda have to keep it going until it is sure no-one is genuinely going to buy it. Yesterday news stated that the employees had been told to keep going because there was a strong chance of them being the in March. Hope so...

[motormania]

beat you to it Reuters...

http://www.pistonheads.com/gassing/topic.asp?h=0&a...

[furtive]

robert_raw said:

I hope this goes ahead, would really like to see a honda on the starting grid next year

you won't though. You might see a Mercedes powered Virgin though

[Howard1650]

RJE1966 said:

F1 Richard, have you seen it?
Just look at it Richard.

Edited by RJE1966 on Wednesday 18th February 11:53

very funny, over the heads of most PistonHead readers

[Howard1650]

RJE1966 said:

F1 Richard, have you seen it?
Just look at it Richard.

Edited by RJE1966 on Wednesday 18th February 11:53

very funny, over the heads of most PistonHead readers

[Gillet]

I don't see why he wouldn't do this, he and his company have money to burn, he loves extreme sports and taking risks, which is what this requires, so why not?

He doesn't always start fresh business' either, look at Virgin Trains, his bid for the Lottery, his bid for Conchord, Virgin TV, Virgin Broadband, Virgin Radio, Virgin Mobile to name just a few.

I hope he does buy it, and i hope he gets fully involved in running the show, aswell as showing Nick Fry the door.

[cvegas]

Could be a great move for F1 and Vigin - the Red Bull F1 marketing model seems to be a very successful one!

[Mr_Yogi]

Howard1650 said:

RJE1966 said:

F1 Richard, have you seen it?
Just look at it Richard.

Edited by RJE1966 on Wednesday 18th February 11:53

very funny, over the heads of most PistonHead readers

Very good