Honda Saved!

[PolePosition_1]

RealHondaF1.com understand a management buyout of the Honda Racing F1 team has been completed, with a change in the senior staff also taking place. With news of significant, but specific, job cuts, we expect to see an official announcement on the future of the team this evening or early tomorrow morning. Our sources indicate to us that the most significant change to the management will be the exit of Nick Fry, who we believe has been looking for a senior role in another sport in recent months. A further senior staff member is also thought to have exited the team.

Job cuts, whilst unfortunate, are to be expected. Our understanding is the test team and engine groups have been disbanded, something that makes sense with the supply of Mercedes engines being serviced by their own staff, whilst the in-season ban on testing means the test teams at many of Honda’s competitors will also be made redundant.

Brazilian driver Bruno Senna was present at the factory late last week, and is expected to be confirmed in the second seat alongside Jenson Button.

This is an ever-changing subject currently, and we’re having difficulty separating fact from rumour. However, we do believe the above is correct. For the latest accurate news, keep checking RealHondaF1.com.

SOURCE :http://www.f1network.net/main/s169/st140565.htm

Not what I would call official but sign in right direction.

Anyone else heard more about this?

[Tazio]

Anyone else heard more about this?

http://www.newsnow.co.uk/h/Sport/For...tructors/Honda

Have at it my man!!!

[Easy Drifter]

TSN who are usually pretty quick and accurate have exactly the opposite.
Here's hoping they are wrong this time!

[Robinho]

how does a management buyout work with the senior management leaving?

[ozrevhead]

I hope its true - think of everyone who may loose their jobs if honda does close down

im also 99% sure that Senna and Button will be the drivers

[ioan]

how does a management buyout work with the senior management leaving?

Good question.

[nigelred5]

Depends on who is leaving and who the "Management" is. Doesn't mean all management. I read "senior administrative staff" meaning Nick Fry was leaving, not everyone. Ross Brawn isn't going anywhere in what I read and from what I can piece together is the likely new team prinicpal in the deal.

[Knock-on]

http://www.autosport.com/news/report.php/id/73408

News is starting to filter out about positive progress

[Sonic]

I'd still be quite surprised if there were 20 cars on the grid come Aus. I can't see how we go from 'no serious buyers' to a management buyout in a week; if the management buyout was on the table as a serious proposition then why the negative press release earlier this week?

[jens]

Management buyout or not, but the biggest question to me is, who is going to finance their team. Almost all the information about possible funders (Petrobras, Bernie) have turned out to be empty rumours. There hasn't been an official 'denial' by Virgin though, although it was mentioned by Branson that he would prefer to get involved in F1 if some changes in the series have taken place.