Formula 1 Daily Updates

BRACKLEY – Honda Racing will receive the form of shares worth 2.3 billion Pounds Sterling loan from the British Goverment. Really? There are no clear answers, because the squad wich have a headquarters in Brackley is reluctant to respond to the news.

As written by autosport, Friday (30/1/2009), the Honda can borrow funds to the British government to save their squad existence in the Formula One (F1) racing event.

Mentioned, Honda F1 meet the four requirements asked the government – a company with more than 25 million Pounds Sterling, in the forefront of innovation, reduction of carbon emissions and create employment.

"We expect the cooperation of the automotive industry or their partner which had the income as much as 25 million pounds or more. They will get a loan if they have a real project to maintain the company," said spokesperson of Dept for Business, Enterprise & Regulatory Reform (BERR).

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The Honda Formula One (F1) only have time until the end of this month to save their squad. Honda must find a buyer before the jet on the land racing in 2009 season begin.

While some of the worry, Honda F1 itself even stay calm. Japanese manufacturers squad remain confident that, they came down ready to fight in the Australian Grand Prix, March.

“We’re not too concerned with speculation circulating that, because we focus on the time limit has been set,” spokesman of Honda said, as BBC wrote, Wednesday (28/1/2009).

“We have a good progress developing our race car. We are optimistic, although we can not hope for much later,” he added.

Honda F1 indeed surprising when publicly announced the resignation, December 5, with the reason the global economic recession. Fate is in question in the mind of each of the F1 personnel.

However, the rumor mentions Honda is in the process of selling the team and be racing next season. Honda team principal Ross Brawn even revealed, it takes six weeks to modify the car and the engine for himself.

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