Formula 1 news

Time running out for Honda, but confidence remains

Time is running out for the Honda team to confirm its engine supply deal and have enough time to engineer the new car and powerplant together to be able to compete in the new season.

The team is widely said to have less than ten days to confirm its engine deal with Mercedes or face not having enough time to be ready for the start of the season. At the heart of the issue now, is whether Honda can convince Mercedes that they have the resources in place to guarantee payment of the $10million that will be due for engines.

Mercedes is also reported to be seeking assurances from the team that it will be able to compete seriously during the season, and not cause damage to the Mercedes brand by crawling around at the back of the field.

"We've offered as much help and assistance as we can in the interest of the sport as a whole and the solidarity of FOTA to help the Honda team stay in business," McLaren's new team boss Martin Whitmarsh told the Guardian. 

The Guardian also claims the team has around £35m in backing secured, mainly from Honda in severance payments and advances on television revenues from Bernie Ecclestone. The team is also tapping into funding from Brazil's Petrobras and Embratel who are backing Bruno Senna's bid to break into F1.

more news

• 21 Mar.
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• 20 Mar.
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  • Kobayashi hoping to be more competitive in Melbourne
  • Rosberg positive ahead of Australia
  • Sauber expecting more from Albert Park
• 19 Mar.
  • Kevin Magnussen signed up by McLaren
  • 'We should be more competitive in Melbourne' - de la Rosa
  • Mercedes not competitive enough, says Brawn
  • Lauda impressed by Schumacher comeback
  • Schumacher: Australia a highlight on the calendar
  • Montagny joins Superleague Formula
  • Webber hoping to finish ahead of Vettel
• 18 Mar.
  • Monza signs new F1 contract
  • McLaren buys back Mercedes shares
  • Massa never doubted physical condition
  • Coulthard to drive Red Bull in Belfast
  • Give regulations a chance, says Mallya
  • De la Rosa becomes Certina ambassador
• 17 Mar.
  • Cosworth pleased with F1 comeback
  • GPUpdate TV: Stefano Domenicali interview
  • Schumacher return boosts German TV ratings
  • Bruno Senna column: The season starts in Australia!
  • 'I put too much trust in US F1' - López
  • Button: McLaren will be stronger in Melbourne
  • Horner still hoping for two stops
  • Michael confident with Hülkenberg
• 16 Mar.
  • Ecclestone ponders return to America
  • Lotus eyes Toro Rosso and Sauber
  • Fry: Button must catch Hamilton
  • Di Resta to drive on Melbourne Friday
  • Coulthard slams Mosley's regulation ideas
  • Webber shocked by overtaking difficulties
  • Teams must not write rules, says Ecclestone
  • Vettel: Alonso would not have passed
  • Michael pleased to finish after problems
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• 15 Mar.
  • Schumacher 'very, very happy' with result
  • First-corner IndyCar collision for Sato
  • Bridgestone satisfied with Bahrain tyres
  • Teams considering mandatory pit-stops

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