Formula One news

Aguri's financial difficulties caused by SS United

On Tuesday morning the Super Aguri Formula 1 team sadly had to announce its withdrawal from Formula 1. The team joined F1 back in 2006 but after 2 full seasons and four rounds in 2008 the team had to give up the fight searching for financial backing. The breach of contract by the team's 2007 main sponsor SS United brought the team in immediate financial difficulties.

Super Aguri team boss and founder Aguri Suzuki said about the team's difficulties: "The team has competed against the many car manufacturer backed teams and has succeeded in obtaining the first points after only the 22nd race finishing in 9th place overall in the 2007 Constructors' Championship. However, the breach of contract by the promised partner SS United Oil & Gas Company resulted in the loss of financial backing and immediately put the team into financial difficulties. Also, the change in direction of the environment surrounding the team, in terms of the use of customer chassis, has affected our ability to find partners.

"Meanwhile, with the help of Honda, we have somehow managed to keep the team going, but we find it difficult to establish a way to continue the activities in the future within the environment surrounding F1 and as a result, I have concluded to withdraw from the Championship."

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