Honda says no to Aguri F1 team bail-out

0 Comments | AFP, April, 2008

TOKYO (AFP) — Honda Thursday said it had no plans to bail out cash-strapped Japanese Formula One team Super Aguri, whose future is in serious jeopardy.

The Japanese carmaker, which provides engines and technical support, made the comment after Britain's Magma Group announced it was pulling out of a deal to buy the struggling team.

"We intend to continue the present structure of our support for Super Aguri," a spokesman for Honda told AFP.

He added there had been no request from Super Aguri for a financial rescue package despite press reports it was calling for assistance from Honda, which has its own separate team.

Founded in late 2005 by former Japanese F1 driver Aguri Suzuki, Super Aguri is now a major doubt to make the grid for the next grand prix...