Formula One news

Richards reveals Honda interest

Prodrive boss David Richards has revealed that he is working on a potential rescue deal for the Honda F1 team. Speculation has been rife that Richards may be one of the frontrunners for the F1 team since Honda put it up for sale, as he had hoped to enter F1 with his own team until the customer car row broke out and scuppered his plans.

Richards has flown to the Middle East to hold talks with interested backers for the Honda team. 

"There are a group of people in the Middle East who want to support an F1 entry for me and have been very specific about it for a year now," Richards told the Mail on Sunday newspaper. "But we have to agree when the time is right."

"When you sit down in the cold light of day and realise the liability you would be taking on, and the huge restructuring of staff and resources that will be needed, investors will have to think long and hard before taking a punt," Richards added. "You will have to bridge a big gap in finance, probably for three years, before balancing the accounts." 

Richards' interest in F1 is thought to have been revived after Subaru announced it would pull out of the World Rally Championship, affecting the team that his Prodrive company ran for the manufacturer.

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