Virgin in F1 Honda Buyover

Richard Branson and the Virgin Group are deep in talks about buying Honda’s Formula 1 team. With the new season beckoning (29th March) it is hopeful that Honda and Virgin can quickly come to some arrangement before deadlines are reached. Honda is currently for sale at the price of £1.00 but any buyer would need around £40 million to bankroll the team for just 1 season. If no deal is reached then Honda would need to get rid of their Formula 1 team, around 700 employees including British driver Jenson Button.

Richard Branson’s 11th hour bid may be a saving grace for Honda. However, Branson has uttered in the past that he sees Formula 1 as a “big black hole for money”, hence, the surprise met by many when Branson announced his interest in Honda. But he is a shrewd business man and is aware that if he had tried a similar feat of buying Honda Formula 1 team five years ago it would have cost him in the region of £100 million. Markets have a tendancy to bounce back, eventually.

Latest Formula 1 Drivers Championship Betting

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