Formula One news

Mexican billionaire denies Honda bid

The Mexican billionaire, Carlos Slim, has denied he is in talks about a possible take over for the Honda F1 team. Italian newspaper La Stampa claimed this weekend the owner of telecom firm Telmex was in the closing stages of the take over.

A statement from Telmex said: "The Telmex Team can confirm that Carlos Slim Helu has not bought the Honda F1 team nor is holding any negotiations to do so. Therefore all information related to this subject has no basis and is completely false."

Honda F1 team boss Ross Brawn confirmed by telling the Daily Telegraph: "We would love it if it were true but it's pure speculation from various members of the media. It's just been one of those rumours which has developed a life of its own."

Brawn furthermore said about the current negotiations: "There has been a huge amount of interest. It's now got to the stage where we need to filter out the serious from the not so serious. We're all hopeful that something will happen and we're anxious to turn up the wick again in the new year.

"We haven't really lost anything yet as it has still only been a few weeks. Everything is in place although we have had to turn down various programmes. We have enough funding to get us through to Melbourne and we still have a competitive package."

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