Honda's future in Formula One could be secured by the end of March, according to reports in Japan.
Reports from Japan claim a deal will be completed by the end of March
Honda's future in Formula One could be secured by the end of March, according to reports in Japan.
Honda Racing have twice set deadlines for the team to be sold, with the F1 team's parent company in Japan wanting a deal to be agreed by January 31st and then by February 28th.
But as yet there has been silence from Honda as the F1 fraternity waits with bated breath to learn the team's fate.
However, good news emerging from Japan is that a deal is on the verge of being concluded.
"We expect to be able to make an announcement from the company and the team in the near future," the
Yomiuri daily quoted a source at the company's Japanese headquarters as having said.
"Honda has been making all possible efforts to avoid the worst option of having to disband the team."
The source, though, did not say who was buying the team, although he did add the team boss Ross Brawn - the man many rumours claim is the mostly likely buyer - will be staying on.
Jenson Button, who is believed to be taking a pay cut, will also spend another season with the team, while F1 veteran Rubens Barrichello has also reportedly signed on for another year.
