Super Aguri's future in fresh doubt
|By Steve Cooper||Wednesday, April 16th 2008, 10:03 GMT|
Super Aguri face a race against time to make next weekend's Spanish Grand Prix after the investment group buying the team chose to reconsider their options at the very last minute, autosport.com can reveal.
The Japanese outfit were due to ink a deal this week with automotive investment group Magma, which was working on behalf of Middle Eastern backers Dubai International Capital.
Honda's senior board had personally rubber-stamped the Magma-led buyout of the team because they felt the proposal offered the best opportunity for the team to prosper and grow into a full constructor ahead of the 2009 season.
Super Aguri's future had been in doubt at the beginning of the year and they missed most of the pre-season testing before a last-minute deal with the Magma group secured their presence on the grid.
However, the Dubai investors are now reconsidering the level of investment they are willing to sink into the Formula One operation.
Magma CEO Martin Leach has written to Super Aguri informing them of the Dubai group's decision to rethink their financial commitments.
While the Leafield-based team are still making preparations to attend next weekend's race at Barcelona, the lateness of the decision has left them requiring crucial funds and spares to contest the weekend.
Team principal Aguri Suzuki is engaged in talks with Honda's senior management in Tokyo in a bid to find a practical solution within the next 48 hours.