Super Aguri have announced their immediate withdrawal from this season's Formula One World Championship.
Troubled Japanese team call it quits
Super Aguri have announced their immediate withdrawal from this season's Formula One World Championship.
The Japanese outfit's place on the F1 grid has been in doubt ever since rescue talks with Magma Group collapsed in the build-up to the Spanish GP.
The cash-strapped team only raced thanks to last-minute help from Honda, who provide the team with engines and technical support.
However, with Honda refusing any more aid and a new financial deal with investors yet to be finalised, Aguri were denied access to the Instanbul circuit ahead of next weekend's Turkish GP.
In a statement, team owner Aguri Suzuki said: Suzuki said: "In order to realise my dream to become an owner of a Formula One team, I applied for a grid position in the FIA Formula One world championship in November 2005.
"Since then, I have participated in the championship for two years and four months as the Super Aguri F1 Team.
Ceasing activities
"But regretfully I must inform you that the team will be ceasing its racing activities as of today.
"The team has competed against the many car manufacturer backed teams and succeeded in obtaining the first points after only the 22nd race, finishing ninth overall in the 2007 constructors' championship.
"However, the breach of contract by promised partner, SS United Oil & Gas Company, resulted in the loss of financial backing and immediately put the team into financial difficulties.
"Also, the change in direction of the environment surrounding the team, in terms of the use of customer chassis, has affected our ability to find partners.
"Meanwhile, with the help of Honda, we have somehow managed to keep the team going.
"But we find it difficult to establish a way to continue the activities in the future within the environment surrounding F1 and as a result, I have concluded to withdraw from the championship.
"I would like to express my deepest thanks to Honda, Bridgestone, the sponsors, all the people who have given us advice during various situations over the past couple of years and all the team staff who have kept their motivation high and always done their best.
"I would also like to thank Anthony Davidson, who has always pushed to the limit despite the very difficult conditions, Takuma Sato, who has been with us from the very start and has always fought hard and led the team, and lastly our fans from all over the world who have loyally supported the team."
