Username
Password
Suzuki: I have no interest in Nick Fry
By Phil Huff May 6 2008
With Honda Motor Co ceasing financial support for Super Aguri F1, and Honda Racing F1's Nick Fry informing Formula One Management that Super Aguri won't be racing, the Leafield team has succumbed to the inevitable and pulled out of Formula One. The team will, therefore, be absent from the remaining races of 2008.
The team, financed in part by Honda, were struggling for survival as they failed to secure sufficient financing to stand on their own two feet, partly due to a major sponsor falling somewhat short on promised funding. A recent buy out by the Magma Group, signed by Super Aguri, Honda, Magma and intriguingly Bernie Ecclestone, fell through during the due diligence stages, while a second buy out option from the Weigl Group seemingly didn't convince those that needed convincing.

Indeed, Honda Racing F1's Chief Executive Officer Nick Fry has been vocal over Super Aguri's chances, stating in Barcelona that "we've been working as hard as we possibly can to find a solution for Aguri, but at this stage I'm not overly optimistic. Honda in my opinion have done the maximum possible to support the Super Aguri team. We have been engaged almost full time in the last few weeks trying to find a solution and I hope that it's going to be a happy ending to the story, but at this stage that certainly can't be guaranteed."

Over this weekend Fry apparently took steps to prevent Super Aguri racing, informing Formula One management that the team won't be entering the Istanbul event, leading to the Super Aguri trucks being prevented from entering the paddock. A source has told us, however, that the order for Nick Fry to speak to FOM did not come from Honda Motor Co, the backers of the Super Aguri effort. It will be interesting to find out where the authority did come from. Meanwhile, the Super Aguri race cars were already recovered by Honda Racing F1, and remained in their Brackley factory even though the team's trucks were in Turkey.

Days before a final meeting with Honda Motor Co, Super Aguri and Weigl, Fry made it clear what his thoughts were. "It would appear unlikely that a company the size of Weigl is able to support a competitive Formula One team, unless of course there are other partners of which we have not been made aware," he explained. "We tried to help as much as possible and Honda never intended to fund two F1 teams. We've gone way beyond what was ever originally anticipated. Now Aguri has got to find some money."

Ultimately a deal couldn't be done in time, and Super Aguri pulled out before the vital Honda meeting, placing the blame firmly at the door of SS United, the defaulting sponsor, and the change in acceptance of customer cars. He also took a parting shot at Honda Racing F1's Nick Fry.

"I don't understand how suddenly Nick Fry needs to be commenting on everything," said Suzuki in Japan this morning. "Honda were our backers and he's not the CEO of Honda. I have no interest in Nick Fry whatsoever and have no idea what he was talking about."

Super Aguri are now believed to owe Honda somewhere in the region of £30m ($60m/€38m), with all of that secured on the assets of the Leafield based team. With very few assets (even the factory is leased rather than owned), it now appears that Honda have chosen to cut their losses and hope that a suitable buyer, perhaps even Honda Racing F1, recovers the few assets remaining.

Bookmark or share this story with: