Honda F1 Pulling Out of F1 by March 2009

In my previous post discussing the car manufactures funding races, I gave reasons for this and now one BIG reason has surfaced and I am not surprised. It is breaking news and very disturbing news for F1 and that is that Honda F1 is withdrawing from F1 by March 2009. They can no longer justify spending in the neighborhood of 200 million pounds on the team and looking for a buyer in the meantime. ITV is reporting that what is being put up for sale does not involve running Honda engines, but Ferrari engines instead. Granted there has been no official confirmation from Honda as of yet, but as was reported earlier, many other teams have been inundated with applications for employment from Honda F1 employees.

Another Honda employee who may not be getting too much sleep at all is Jenson Button. There are simply not too many seats left in F1.

The cause of course is the global economic situation that has hit every auto manufacturer extremely hard and this is also the reason Honda may not find a buyer for the team.

No doubt Bernie must be on the verge of a breakdown and Max, who knows, but they better get their acts together and find out the financial state of the rest of the teams.