Richard Branson (Virgin) to save Honda together with Adrian Reynard?

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Originally Posted by Cooper_S

BACK ON TOPIC

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:laugh:

Good try :D

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The Virgin deal must be dead as it looks like it is a management buy out afterall...



Go look at Honda GP Ltd on Companies House Direct - the UK companies register

A whole load of forms 403a have been filed today, releasing the company's assets from various charges that the company's funders held.
This all suggests that the facilities have been paid off in full and means that the company would be free to sell those assets.

So In other words, something is definitely happening today and it looks like the rumour of the Management Buyout today could well be true.

http://wck2.companieshouse.gov.uk/3ae9f3d8...dorder?incexc=1

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Something's happening for sure.

My hunch when Honda said recently that it could wind it up is that it was an attempt to railroad negiotiations with a prospective buyer.

I am sure there is a deal on the table but it needs a push. The deadline is TODAY for the engines.

Expect more by close of play with Honda, Mercedes and A. N. Other saying they are very pleased with the deal.

The CEO stated today that they may have trouble finding a buyer, might this reorganisation be part of making the assets free to sell before winding up the company/team? It does look like management buyout is the only remaining option, and nobody seems very hopeful about this.

If nothing happens, then this will be a pathetic waste of a ready-to-go Formula 1 team. They have staff, drivers, a car, an option for engine supply and good facilities. Honda are satisfied they can't keep the team because of it's finances, so why won't they just get off their high horse and let the team go for an expected non-financial gain. They turned down Ecclestone's rescue and a supposed management buyout, and for what? It just seems like they are greedily trying to get somesort of huge amount of money for it all, when that is clearly not going to happen. So it seems like we'll just lose the whole thing altogether and be left with 700 people out of a job, Button with no drive, Brawn with no job, a developed car which which never see the track and 2 less cars on the grid. It just seems like a totally annoying and needless waste. It's not so much that they can't find a buyer, more that they didn't get the seemingly impossible offer they wanted.

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Originally Posted by Cooper_S

BACK ON TOPIC
A whole load of forms 403a have been filed today, releasing the company's assets from various charges that the company's funders held.
This all suggests that the facilities have been paid off in full and means that the company would be free to sell those assets.

So In other words, something is definitely happening today and it looks like the rumour of the Management Buyout today could well be true.

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So either the management buyout can take place or preparations are being made to liquidate the team...

Given all thats gone on there is nothing having precluded Virgin talking to the management buyout group to sponsor them. Bernie's being unhelpful as usual, I believe it was last week that he indicated that it would be illegal for him to take a stake in Honda F1, now he's suggesting they were mad not to take it up.

Someone will buy it at the last moment when the price will be the lowest possible and the conditions too.

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Originally Posted by ioan

Someone will buy it at the last moment when the price will be the lowest possible.

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I think the price is for consideration; i.e. £1

The discussion will be centered around liability of debt and contracts.

Honda are NOT bankrupting their F1 team but are offloading the liability as I understand it.

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Originally Posted by Knock-on

I would say that China and India are the largest Markets for BMW, regardless of the number of cars they sell there.

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maybe in 25 years

popultaion numbers are not the key, purchasing power and discretionary income are the keys in this case.

That's why the US is 1, and Japan and Germany are close behind.

If it were simply a numbers game, you could throw in Inodnesia and Vietnam each with staggering populations as well. then Brazil, The Philippines and Nigeria to boot.

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Originally Posted by truefan72

maybe in 25 years

popultaion numbers are not the key, purchasing power and discretionary income are the keys in this case.

That's why the US is 1, and Japan and Germany are close behind.

If it were simply a numbers game, you could throw in Inodnesia and Vietnam each with staggering populations as well. then Brazil, The Philippines and Nigeria to boot.

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25? you're joking right.

5 Max! They are the fastest growing economies and set to explode.

As Markability says, follow the money. The US and Europe are leaking investment to the far East and Subcontinent.

How many people in America are buying New Beemers? About 0.1% of the population.

Then consider that Mercedes and BMW are seen as huge statements of wealth in China and you will understand that a very small shift in the wealth of the top 0.01% of the population there and you see why they are so important.

This and the cheap labour probably explains why they have stuck a few factories in China and India.

Sorry for going off topic again. Anything going on with Honda yet ;)

It takes a long time to sign 700 pink slips......

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Originally Posted by Knock-on

25? you're joking right.

5 Max! They are the fastest growing economies and set to explode.

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You can't buy new BMW's with monthly paychecks between 100 and 200 Euros.
And I doubt that the salary will go up to almost 2000Euro in just 5 years!