Mexican billionaire buys Honda F1 team

Article by Christian Andrei, on August 29, 2010

It was reported that Honda has found a customer for its F1 team in the person of Mexican billionaire, and the second richest man in the world, Carlos Slim Helu.

Early this December, Honda made it public its withdrawal from F1 subsequent to the impact of the present global economic predicament and the need to radically cut costs, in addition to the poor results that its team achieved all through the 2007 and 2008 seasons.

With the team now supposedly in Helu's hands, conjecture is widespread that the results table may once again bear the name 'Senna' with Ayrton's nephew Bruno tipped to be a top candidate for one of the driving spots.

Senna is expected to substitute Rubens Barichello, and will probably unite with Jenson Button as the two drivers for Helu's team, says Italian newspaper La Stampa.

Helu obviously paid the nominal fee of just $1 dollar for the team as Honda was eager to make the arrangement as attractive as possible to guarantee its continued existence. Honda is anticipated to continue assisting the team in both financial and technical capacities, while Helu is anticipated to have a three year commitment to running it.

The news came after previous reports that French manufacturer PSA Peugeot Citroen was interested in the team, especially in light of imminent intentions to cut the costs of F1 racing to motivate more competition and offer for more thrilling races.

Nevertheless, with Helu reportedly at the wheel, Citroen will probably stick with its rallying efforts, for which it possesses the present championships for constructors and drivers.

Topics: mexico, formula 1

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