Formula One news

Honda to buy rest of Suzuka track

As arch-rival Toyota ramps up its bid to secure the Japanese grand prix at Fuji, Honda has announced that it will buy the rest of the Suzuka venue. "Honda will obtain all outstanding shares of Suzuka Circuitland and make it a wholly-owned subsidiary," a statement said on Tuesday.

The news comes less than a month after it was reported that Toyota's renovated Fuji Speedway could snatch the race from Suzuka in 2007. Honda-owned Suzuka's F1 contract runs out next year.

In addition to Honda's total Suzuka buyout, the Japanese carmaker - owner of the Brackley based F1 team - announced that it would merge the two companies that are running Suzuka and Motegi.

The merger, to be complete by June next year, 'will leverage the know-how of each facility to offer higher quality events,' Honda added. Honda established Suzuka in 1961.

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