Aguri pinning hopes on Weigl

Cash-strapped manufacturer moving closer to financial agreement

Last updated: 3rd May 2008

Anthony Davidson Super Aguri Sep 07

Davidson: Hoping for financial resolution

We would like to express sincere support for the team's participation in the Formula One World Championship and the group's, together with its sponsors and partners.

Franz-Josef Weigl (Weigl Group CEO)
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Super Aguri appear to have moved closer to an agreement that could ensure their continued participation in this year's Championship.

The team owned by former F1 driver Aguri Suzuki have been hovering on the brink of collapse for a number of weeks after a deal with Magma Group and Dubai International Capital failed to materialise.

Super Aguri defied the odds to participate in the Spanish GP last weekend, however their prospects for the rest of the season hinged on securing a backer to bankroll the cash-strapped outfit, whose drivers are Britain's Anthony Davidson and Japan's Takuma Sato.

Sanctuary now appears to have been found with the Weigl Group, with both parties releasing a joint statement on Friday that indicated a deal to keep Super Aguri on the grid was imminent.

The statement read: "Super Aguri F1 Team and Weigl Group AG are in final discussions concerning an agreement for a substantial shareholding of the Formula One team.

Suzuki plea

"Super Aguri F1 Team believes this to be a just and reasonable offer that would secure its racing future."

Super Aguri team principal Suzuki met with Honda's owner in Japan on Wednesday, where he urged Super Aguri's parent company to accept the Weigl Group bid.

Suzuki added in the statement: "We are happy that we have been able to resurrect talks between Super Aguri F1 Team and Franz Weigl at such short notice and to have the opportunity of presenting the Weigl Group to the Honda Board once again.

"Such a partnership as the one proposed by Weigl Group will allow us to race for the foreseeable future and I am hopeful that all parties will find the group's offer a realistic package."

Franz-Josef Weigl, CEO of the Weigl Group, added: "Weigl Group has decided to speak out openly at this decisive time for Super Aguri F1 Team.

"We would like to express sincere support for the team's participation in the Formula One World Championship and the group's, together with its sponsors and partners, earnest intention to provide ongoing investment to secure the team's future."