Ecclestone doubts Aguri deal

F1 boss happy there's "more room" in the paddock

Last updated: 8th May 2008

bernie ecclestone

Ecclestone: open shop

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Bernie Ecclestone has questioned whether any investor will step in to buy the defunct Super Aguri team, F1's commercial supremo being of the opinion that there are already "a lot of people walking around with a begging bowl".

The Anglo-Japanese outfit were wound up on Tuesday and have since been placed into administration, with a corporate recovery team now pursuing a potential buyer.

Joint administrators PKF have said they are "seeking to sell the business as a going concern to a company or individual looking to launch a Formula One or other motor sport operation".

While Ecclestone said he was sorry to see the team founded by former driver Aguri Suzuki leave the sport, he added that he had no personal desire to save them.

Doubts

And, with administrators saying that there had already been several expressions of interest, Ecclestone also expressed doubts as to whether any investors looking to use Super Aguri as a basis for their own F1 team are currently on the horizon.

"I'm sorry to see anybody go. We had no problem with them," Ecclestone said.

"I didn't want to put in 100million (dollars), which is what was needed.

"For somebody else it might have been okay, but it wasn't for me.

"If somebody could properly fund it then it would be good, but there are a lot of people walking around with a begging bowl."

The outfit, who folded with debts to Honda estimated at £50 million, suffered increasing financial strife last year when a major sponsor defaulted on promised payments.

A takeover by the Magma Group ahead of the 2008 season subsequently failed when backers Dubai International Capital (DIC) backed out of the deal.

And a last-minute attempt to broker an agreement with the German Weigl Group, which surfaced last week, ultimately proved insufficient to save the team.

Super Aguri's departure reduces the F1 grid to 20 cars for the first time since 2005 and effectively leaves two spots open.

Prodrive were due to be up and running this year, only to pull out because of changing rules which will preclude the 'customer car' loophole which allowed Super Aguri onto the grid.

Happy

Nevertheless, despite calling F1 an 'open shop', Ecclestone said he was happy with a reduced grid and looked forward to "more room" in the F1 paddock.

"It leaves two spots open, but we're not looking for 12 teams, we're looking for 10," he added.

"But because we have to be competitive and let people come in, it's not a closed shop. It's open.

"It means we have a lot more room now because the teams are expanding like crazy with their hospitality units and their trucks and everything. We're always running out of room."