Epic! Honda pull out of F1!

[ResLo]

ZOMG :o:o:o

BBC SPORT | Motorsport | Formula One | Global crisis ends Honda F1 era

"Honda Motor Co. has come to the conclusion that we will withdraw from all Formula One activities, making 2008 the last season for participation," said Honda president Takeo Fukui at an emotional press conference.

"This difficult decision has been made in light of the quickly deteriorating operating environment facing the global auto industry... and the sudden contraction of the world economies," he added.

"Honda must protect its core business activities and secure the long term as widespread uncertainties in the economics around the globe continue to mount."

According to the Reuters news agency, team bosses Ross Brawn and Nick Fry told a meeting of the Formula One Teams' Association: "They have a month to find a buyer, otherwise they are closing the team."

If no buyer is found, Honda's decision will leave F1 with just 18 cars on the grid next season.

In fairness they are right. Unlike those American car maker idiots who have no problem increasing their debt by flying to the US government crisis meetings in their private jets, Honda take the approach that they would rather not spend $300M a year when they are not getting anywhere in the sport.

This will have serious knock-on affects, not least in Melbourne.... with teams pulling out and money getting tight they'll loose even more money this year.

[insidious]

i thought we might have another GU cash drive and buy em out

[ResLo]

I'll buy the team for $1 as per the report, you run it and find sponsors.

[NisMoSpo]

I'll put in 10 bucks but I wanna drive

[Formula1]

Well Super Aguri Folded earlier this year so I guess we should have seen this coming. I'm really hoping someone can fork out the money, maybe some oil shiek(sp) from Dubai can bail them out.

Button still has got a lot to do in the world of F1, I hope he can get a drive next year.

[rec]

3 potential buyers already apparently. I'd be fairly confident saying we'll be seeing them next season, in 1 form or another. After all, they've put probably the most amount of development into a 2009 car than any other team in there.

[ResLo]

Oh please.... as if McLaren and Ferrari haven't spent loads o cash on the 2009 car.

[Formula1]

Oh please.... as if McLaren and Ferrari haven't spent loads o cash on the 2009 car.

I think rec is referring to time spent devloping the 2009 spec car, as McLaren and Ferrari would have had to develop their 2008 cars til seasons end to try and win the championships. While HONDA stopped development on their 08 car after Hungary round 11.

Honda 2008 Season Review: Another Poor Year | Bleacher Report

[rec]

Exactly! Keep up with it Res.

[ResLo]

Who said they didn't make the decision at round 11 given they were travelling soo well?

Ferrari and McLaren no doubt, spend more money then Honda per year and can afford to continually develop their 08 cars while also spending time and money creating their 09 cars.

No way have Honda put more time or cash into developing the 09 car then other teams.

[rec]

Well according to the various media reports over the last 5 months, they probably did. I'm not some sort of pit-wall insider, nor do I know Michael Shumacher. I'm just regurgitating what I've been reading in this case.

You need to remember that Honda are the richest manufacturer competing in F1. We don't know exact spending trends by teams, but if Honda wanted to, they could spend more money than other teams without batting an eyelid. Unfortunately they decided despite their wealth, their profit margins are more important than running in Formula 1.

[ResLo]

My understanding is that Toyota had invested more then any other team.

[Formula1]

Who said they didn't make the decision at round 11 given they were travelling soo well?

Ferrari and McLaren no doubt, spend more money then Honda per year and can afford to continually develop their 08 cars while also spending time and money creating their 09 cars.

No way have Honda put more time or cash into developing the 09 car then other teams.

I'm saying resources/time spent developing the 2009 car during the 2008 season would be greater at HONDA then Ferrari or McLaren. Therefore HONDA should be very strong next year. This is why I share rec's confidence in HONDA being bought before the start of the season.

With the vast regulation changes in 2009, Ross Brawn decided to put more of the team?s resource, and energy into the 2009 challenger. It is rumoured that in 2008 Honda have had up to four wind tunnels working on 2009 at the same time.

It has been regarded that Honda has put itself ahead of all the other teams on the development of KERs (Kinetic Energy Recovery system).

Honda 2008 Season Review: Another Poor Year | Bleacher Report

[ResLo]

I disagree, but we'll never know now anyway.