Onestopstrategy forum     |     news feed     |     Online games     |     shop     |     insurance broker     |     advertising
 
Welcome on DailyF1News.com
You are not logged in or not registered yet
Click here for more information about an Account
Register | Log in | Passwordmailer
Frontpage   |   Calendar   |   Photos   |   Drivers   |   Teams   |   Results   |   Game   |   Standings Formula 1 on Friday 3 September 2010
 
Aguri future 'in Honda's hands' - Weigl
Sunday 4 May at 18:10 : One week before the start lights shine on the Turkish grand prix gantry, Super Aguri's future is still hanging in the balance.

Not long after it was officially confirmed on Friday that the German automotive company Weigl was poised to rescue the team, Honda's F1 CEO Nick Fry cast doubt on Weigl's ability to make its touted investment work.

The executive board of Honda - Super Aguri's creditor, sponsor and technical supplier - will meet in Tokyo to rule on the Weigl proposal on Tuesday.

Amid speculation that Weigl's proposed offer is only for a partial shareholding and initial funds only to cover the 2008 season, it has emerged that the company is also only willing to pay back the team's nearly $100m in debt to Honda over a three year period.

Magma Group, the prospective Aguri saviour whose Dubai backing recently fell through, was apparently willing to pay back the debt to Honda in one hit.

Weigl CEO Franz Josef Weigl, however, insists that his Bavaria-based company has the ability to prop up Super Aguri into the long term.

"The Weigl group's offer is backed by strong business finance partners who along with the Weigl group would like to invest long term and not just short term," he said.

"With our partners, the offer is not only about rescuing the team, but about constructing a future for Super Aguri and Takuma Sato."

Weigl also claims that F1 chief executive Ecclestone "confirmed to us that he wants the team to survive", despite emerging reports on Sunday that Super Aguri's transporters have been prevented from accessing Istanbul's Otodrom venue just one week ahead of the grand prix there.

Weigl said: "The decision is now in Honda's hands."
Previous article Discuss this article on our forum Previous article
Related articles
06-05 Suzuki admits hopes for Super Aguri return 0
09-04 Honda scuttled Super Aguri team sale 0
05-09 2006 Super Aguri car sold for $150,000 0
30-07 German company buys Super Aguri assets 0
08-07 GP2 boss Campos eyes Super Aguri assets 0
If you want to react, you have to be logged in
Register now for an account and take the advantage of the benefits
 
Useroptions
Search for more articles in the newsarchive
Print this article
Mail a copy of this article
Daily F1 Headlines
Massa, Alonso, summoned to FIA team orders hearing 0
Sauber not dismissing Mexican rumours 0
Abu Dhabi denies funding Bulgaria F1 track 0
Korea's final FIA inspection nearly six weeks overdue 0
Spa shortfall clouds future of popular race 0
F1's new sponsor is good 'signal' for Williams 0
Small teams confirm opposition to in-season testing 0
'Bad loser' Vettel still eyeing 2010 title 0
FIA investigating Massa's unpunished head-start 0
Kolles hints HRT to keep same race lineup 0
Renault uses Twitter to dismiss F1 rumours 0
Pirelli continues F1 testing in France 0
DailyF1News Magazine
Register now for the DailyF1News Magazine and you will receive a copy in your mailbox every Monday after the race. With the latest news and results from out the paddock of Formula 1.
Click here for more information
Dossier: Insight from the Outside
12.12 - Where to for Heiki?
30.10 - Of bendy floors and McLaren protests
29.10 - Where to for Fernando?
26.10 - Top ten unpublished stories of 2007
Click here for more articles in this dossier
 
 
 
16 Most recent photo's:
Mark Webber, Lewis Hamilton, Robert Kubica, Spa Francorchamps Sunday 2010 Lewis Hamilton, McLaren, Spa Francorchamps Sunday 2010 Jenson Button, Lewis Hamilton, Spa Francorchamps Sunday 2010 Lewis Hamilton, McLaren, Spa Francorchamps Sunday 2010 Lewis Hamilton, McLaren, Spa Francorchamps Sunday 2010 Lewis Hamilton, McLaren, Spa Francorchamps Sunday 2010 Lewis Hamilton, McLaren, Spa Francorchamps Sunday 2010 Lewis Hamilton, McLaren, Spa Francorchamps Sunday 2010
Lewis Hamilton, McLaren, Spa Francorchamps Sunday 2010 Lewis Hamilton, McLaren, Spa Francorchamps Sunday 2010 Lewis Hamilton, McLaren, Spa Francorchamps Sunday 2010 Lewis Hamilton, McLaren, Spa Francorchamps Sunday 2010 Mark Webber, Red Bull, Spa Francorchamps Sunday 2010 Mark Webber, Red Bull, Spa Francorchamps Sunday 2010 Mark Webber, Red Bull, Spa Francorchamps Sunday 2010 Mark Webber, Red Bull, Spa Francorchamps Sunday 2010
Copyright ©2010 Onestopstrategy.com Powered by Websitefreelancers.nl Contact | Advertising | Vacancies | Pricacy Statement
used Honda Accord
Knowledge about F1? Bet on F1 at www.bwin.com