Honda Still Committed to Breakaway Plans

The five Formula One carmakers, who are planning their own series from 2008, and seven of the 10 teams met in Germany and issued a statement last week announcing a binding agreement and reiterating their commitment to creating a new series.

The manufacturers - DaimlerChrysler's Mercedes, Renault, BMW, Honda and Toyota - are at odds with Formula One supremo Bernie Ecclestone over the way the sport should be run once an existing commercial agreement expires at the end of 2007.

Honda, who announced on Tuesday that they are to acquire 100 percent of BAR by the end of the year, are involved in the new Formula One team that they are hoping will make their debut next season.

Fry, however, said that despite Honda's backing, the new team would be independent.

"Consider the two separate," said Fry of Honda and the new Honda-powered team. "Honda signed the agreement with the other car manufacturers in Munich on Wednesday that everyone would stick together, so you would be completely wrong to read that into it, it has no connection.

"We are looking towards the future," Fry added. "Everyone wants to reach an agreement. If we can and to have an 11th team is good for everyone so I think Bernie is working on the assumption that we are going to somehow reach an agreement.

"And if we have an 11th team that is fantastic, because really we would like 12. So to have another one and one that would appear to be a credible entry, is good for Formula One."