Honda F1 in trouble, and withdraw from F1

[donskar]

Some of you may have seen the rumors in grandprix.com: a couple potential buyers for Honda F1.

The Mexican, Senor Slim, has a vast fortune. Here in south Texas we see refernces to him in the Houston Chronicle business section. He's a serious, smart businessman with LOTS of money to spend (probably more than Vijay Malya).

The other candidate, the Hyundai/Kia group is positioned as either a buyer or a potential sponsor of David Richards/ProDrive. That one is very interesting.

Love to see SOMEONE step in, but recent news makes the situation less than bright. Even Toyota will reputedly lose $1.7 billion this year!

(However, a Toyota Director-level marketing guy told me this morning -- with a BIG smile -- that Toyota are down to ONLY about $18 billion in cash.)

[xpensive]

Senor Slim, eh?
When it comes to rich people investing in F1, I think Mateschitz is one of very few successful such. At least when you compare with the likes of Alex Schneider, Andrea Sasetti, Lord Hesketh or outright criminals like van Rossem and Cyril de Rouvre?

[donskar]

Senor Slim, eh?
When it comes to rich people investing in F1, I think Mateschitz is one of very few successful such. At least when you compare with the likes of Alex Schneider, Andrea Sasetti, Lord Hesketh or outright criminals like van Rossem and Cyril de Rouvre?

Yes, xpensive, F1 has been blighted by some real losers, including the "money" behind Onyx many years ago (the name escapes me). I'd disagree with only one name on your list: Hesketh had considerable success. Another rich man who had real success was Peter Revson of the Revlon fortune.

[xpensive]

Indeed donskar, the Lord was perhaps not the best example, actually rather serious in this context.
Regarding Onyx, I think it started out with van Rossem and continued with Peter Monteverdi(!).
Remember the ATS team of the 80's with the somwhat choleric Gunther Schmid footing the bill?
Good lord, maybe we should open a new thread on the subject?

[Carbon]

On the topic of rich men funding (successful) Teams, one can't overlook Canadian Walter Wolf, who, with the assistance of Dr Postlehwaite (of more recent F1 fame) developed the Wolf Ford WR1, which was later piloted by Jody Scheckter to reasonable success. At the end of the 1977 season, Scheckter became vice champion behind Austria`s Niki Lauda at Ferrari. The Wolf Ford scored fourth place in the constructors`s championship behind Ferrari, Lotus and McLaren.

In a fitting nod towards Honda's Earth Car, Walter Wolf stated "I don´t make my car ugly by putting other companies` stickers on it."

An interesting history on Walter Wolf can be found here http://www.research-racing.de/wr1-0.htm

[DaveKillens]

Don't forget Wolf's link to Sir Frank Williams. They were in the racing business together until 1977, when Frank went his way.

[xpensive]

True, but Teddy Yip however, was a little less successful. And who in the world bankrolled "Life racing Engines" with that home-made W12?

[xpensive]

So what do we have on the table for the honda team then, David Richards and Ross Brawn taking over with financing from Senor Slim in Mexico?

[donskar]

More names in the hopper. This from The New York Times:


The Daily Mail also reported that Achilleas Kallakis, a Greek shipping tycoon, is interested, and that efforts by Vijay Mallya, owner of the Force India, an existing Formula One team, have “reached an impasse.”

The third name [first was David Richards] is Carlos Slim Helú, the second richest man in the world. The Mexican billionaire owns Telmex, a Mexican telecommunications company. His interest in the Formula One team was revealed recently when his helicopter landed in the racing team’s parking lot in Brackley, England.

“His helicopter was too big for the heliport so they had to clear the car park for it to land,” a Honda source said, according to The Sun.

Honda Racing said the sale won’t happen until the new year. Until then, the team is continuing to work on the new car “to ensure that our objective of being on the grid at Melbourne at the end of March will be achieved,” Nick Fry, chief executive of the team told Autosport last week.

F1: only for the richest.

[Metar]

Force Mexico F1?

[DaveKillens]

Everyone is running out of time. On Dec 4th, when the Honda pullout was announced, it was stated that any buyer had a month to buy. Well, that month is almost passed.

[xpensive]

I say it again, if those cars are at the starting line in australia, I'll eat a balaclava.

[modbaraban]

I say it again, if those cars are at the starting line in australia, I'll eat a balaclava.

You should be thinking over the recepe by now... just in case.

Honda 'saved' by Slim

[djos]

Everyone is running out of time. On Dec 4th, when the Honda pullout was announced, it was stated that any buyer had a month to buy. Well, that month is almost passed.

I think they said 3 months IIRC?

[xpensive]

For modbaraban: In the case of Senor Slim, I should be happy to enjoy the balaclava with salsa and guacamole, flushed down with tequila in heavy doses.