I have to respect the Honda motor company after this. "We don't necessarily care about the loss of assets - we care about peoples jobs". Pretty cool corporate direction in this day and age. Well done Honda.
Quote:
Honda F1 team sold for one pound: report
AAP - April 10, 2009, 9:33 pm
Honda Motor sold its Formula One team for just STG1 ($A2.07) to former team principal Ross Brawn to keep it in the sport, a Japanese newspaper reports.
"Since our withdrawal (in December), it was our top priority to sell the team on condition it continues its F1 activities," an unnamed Honda official was quoted as saying by the Yomiuri Shimbun. "The price was not a problem."
"We could not sell the team to partners who had sought to disband it and sell its assets on a piecemeal basis," he said. "We also needed to protect the jobs of hundreds of people and we think it was a good conclusion."
A Honda spokesman declined to reveal financial details of the deal.
Honda is reported to have spent Y20 billion ($A281.73 million) in running the F1 team.
Brawn's Mercedes-powered team has won the first two Grand Prix this season through driver Jenson Button, in the Australian round and Sunday's rain-shortened race in Malaysia.
Button's fellow driver Rubens Barrichello finished second in Melbourne.
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