Aguri Suzuki is considering the future of his team after confirming that the investment group intent on buying the outfit withdrew its offer on Wednesday.
Magma, working on behalf of Middle Eastern backers Dubai International Capital, informed Suzuki today that its investors 'no longer wish to fund the intended acquisition', once again throwing into doubt Super Aguri's continued participation in Formula One.
Having completed a full day of negotiations with Honda's senior management in a bid to secure the team's future, Suzuki released a statement announcing that the team are now working on alternative solutions.
The statement read: "Super Aguri F1 Team confirms that it has been informed by Magma Group, the potential purchasers of the team, that its investors no longer wish to fund the intended acquisition.
"It is with deep regret that Aguri Suzuki is now forced to consider the future of the team, however negotiations with other parties continue."
It seems likely that the outfit's best hope of competing in next weekend's Spanish Grand Prix depends on Honda continuing to fund the team and providing spares until a new backer can be found.
Suzuki is believed to be working with Honda to find a practical solution by Friday.
Honda's senior board 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.
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