Sunday 28 December at 13:13 : Dec.28 (GMM) Departing Honda's Brackley based formula one team has been rescued by the second richest man in the world, according to increasingly widespread reports in the wake of Christmas

The unofficial news was first carried at the weekend by the Italian newspaper La Stampa, which said the Mexican billionaire Carlos Slim has succeeded in buying the team for a symbolic single dollar

Slim, who controls the telecommunications giant Telmex, was among several interested parties in the Japanese manufacturer's outfit, including David Richards

La Stampa acknowledged that the news is not official

"But two things are certain -- the team has been saved and the drivers will be Jenson Button and rookie Bruno Senna in place of Rubens Barrichello," the Turin-published newspaper said

It is believed Slim is prepared to fund the F1 team to the tune of a healthy $300 million per year