Richards rules out Honda deal

Prodive boss says costs are still too high

Last updated: 9th January 2009   Subscribe to RSS Feed

Richards rules out Honda deal

Richards: Out of the running

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Prodrive boss David Richards has ruled himself out of the running to buy the Honda F1 team.

Richards, who served as team principal for the Brackley-based outfit between 2002 and 2004, had said he was in talks with the Kuwait-based Investment Dar Company (TID) over a potential buy-out.

However, Richards has for now ruled out a return, saying that, as far as he is concerned, costs are currently still too high in F1.

Despite recent moves made in this regard by teams and the FIA, Richards believes that little will change until the season after next.

"All I can say is that I have made it very clear that the only terms (under which) I would ever consider a return or an involvement was if I felt we could be competitive - and nobody expects to win in their first year of Formula One," he said at the Autosport International Show on Thursday.

"It has also got to be financially viable. You expect to (have to) invest but you also expect it to work. I just personally feel that the current environment is too unsettled.

"The cost-cutting process that has been put in place has not yet seen its full benefit, and I don't think it will be until 2010 that you will see those issues roll out properly.

"The teams have still got a burden of overhead that is unsustainable. So consequently, with the window of time for entry, I just question whether it is right at the moment."

Following a slump in car sales, the Japanese manufacturer announced in December that they were withdrawing from the sport with immediate effect.

However, also speaking on Thursday, team CEO Nick Fry said that they were currently considering "something in the region of a dozen" takeover offers.

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