Formula One news

Super Aguri F1 team put into administration

There are administrators appointed to search for a buyer for the Super Aguri Formula 1 team. The team decided to stop its activities in Formula One on Tuesday. The administrators are searching for a buyer that will purchase the team as an ongoing business.

In a statement, joint administrator Philip Long said: "This Administration provides a unique opportunity to get into high-level motorsport without having to build an operation from scratch. In terms of capability a new team could easily be up and running for the 2009 Formula One season.

"Virtually everything is in place including the people, the technical expertise, the laboratories and testing facilities. A new team could walk in and take over a fully operational unit from day one. There are a number of other motor sport projects being undertaken which should interest the motor racing world."

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