Just a break in my Top 5 drivers of the year to bring the news that Honda will most probably quit F1 today, with an announcement imminent over the next 24hrs. We did know the recession would impact Formula One but this is a huge blow to the sport. The name Honda has strond ties with Formula One, and today they will announce that the team will be sold. Apart from the 700 employees who will get their pink slips, notable F1 figures such as Ross Brawn and Jenson Button will be left homeless.
If Honda are to cut jobs in Japan, their F1 program would not look justifiable in the eyes of the employees or the public. Honda are reportedly spending $218 million on their F1 project, but this figure also included the Super Aguri expenses. In these tough financial times it will hard for a company to justify spending on a project like this while they have to look to cut expenses.
This will be a big blow not only for F1 but for a lot of people as well. Ross Brawn should not have trouble finding another home but Jenson Button will have to pull something out of the abg to get a drive next year, with only few drives available. Upcoming drivers Bruno Senna and Lucas Di Grassi will have to look elsewhere or head back to Gp2. And finally spare a thought for the employess back at Brackley, who have had a miserable year and a worse ending to it.
Bernie Eccelstone will have to pull something special out of the bag to get a solid buyer for the team. Red Bull as well are looking to sell the Toro Rosso team, so expect a whirlwind of cost cuts to hit the sport. Let us hope, by the time we reach Melbourne next year that there are no other teams who will suffer the same fate, especially another manufacturer..
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