Who Will Buy Honda's Formula One Team?

Last December Honda announced that they were pulling out of Formula One racing, and would not have an entry in the 2009 schedule. This was done in response to the world wide economic conditions and therefore the company decided that they had to cut down on certain activities.

Since that time there have been all kinds of guesses as what would happen to their team. Would someone buy it in time for the first race of the season at the end of March? Lot's of names were tossed around as potential buyers. Most of them proved to be idle speculation.

Recently, the team's current chief executive Nick Fry, and four other senior Honda executives were putting a bid together for the team. It looked like these were the leaders and might take oved. However, yesterday word came out that British entrepreneur Richard Branson's Virgin Group has made a bid for the Honda Formula One team. Looks like Honda might have a choice now, but time is running out for the team to participate in the early races. Will they make it?

As the old saying goes, time will tell.

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