Honda edge closer to completing buyout
|By Jonathan Noble
||Friday, February 27th 2009, 14:17 GMT
Honda GP Limited, the company name for Honda Racing, has begun processing formal paperwork ahead of the management buyout by the team that is expected to be confirmed within the next fortnight.
Company director Nigel Kerr, who is believed to be involved in the buyout of the team led by team principal Ross Brawn, has signed a number of forms lodged with Companies House that confirm some old outstanding charges for Honda GP Limited have been settled.
The charges, some of which date back to 1998, relate to buildings on the Reynard Technology Centre where Honda Racing are based, plus fixtures and fittings, and other floating charges.
The processing of the paperwork at Companies House comes as the management buyout led by Brawn goes through its final legal processes.
No formal news on the buyout situation is expected for at least another week, and could be even longer than that, even though the team are likely to begin testing of their new Mercedes-Benz powered car at Silverstone next week.
Brawn's continuing role in F1 appears certain, however, with autosport.com understanding that Honda Racing's team principal is scheduled to make an official presentation at next week's Formula One Teams' Association (FOTA) press conference in Geneva.
It is understood that Brawn will talk about his role as head of FOTA's Technical Regulations Working Group, when the body outlines its vision for the future.
The bid to save Honda received support on Thursday when Williams chiefs Frank Williams and Adam Parr said they expected the team to make the grid in Australia.
Williams said: "They're a bunch of racers who I admire very much, so yeah, they might make it."
Parr added: "I think they'll make it. The fact that they're still talking is quite instrumental. If the Honda parent company wasn't faced with any serious opportunity then I think they'd have just called it a day, wouldn't they?
"The fact that we're four weeks away from the beginning of the season and they're still making kit must mean that Honda takes the proposals that are available very seriously."