Super Aguri Withdraw from Formula 1

The Super Aguri team have withdrawn from the Formula One World Championship because of a lack of funding.

The Japanese team have wound up their racing activities with immediate effect and will not compete at this weekend's Turkish Grand Prix.

Super Aguri have been struggling for survival since the collapse of a takeover deal in April by the Dubai-based Magma Group.

It means British driver Anthony Davidson is now without an F1 drive.

Team founder Aguri Suzuki broke the news in Japan saying: "Regretfully I must inform you that the team will be ceasing racing activities.

"The loss of financial backing put the team into financial difficulties.

"The change of direction of the environment surrounding the team, in terms of the use of customer chassis, has also affected our ability to find partners.

"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 so I have concluded to withdraw.

"I have been very happy that I was able to achieve a miracle and become a team owner."

Things looked bleak for Super Aguri when they were denied access to the Istanbul circuit ahead of this weekend's Grand Prix pending talks over their survival.

Team founder Aguri Suzuki and backers Honda were expected to meet on Tuesday; while the team's trucks and motorhome were not allowed into the paddock.

The team's car, engine and gearbox, and much of their funding, came from Honda, but the Japanese company wanted them to start paying for their equipment.

New regulations that come into force in 2010 also means teams will no longer be able to make custom cars for other outfits.

Super Aguri announced last week an 11th hour deal for Germany's Weigh Group to take a "substantial shareholding" but it now seems likely Honda did not approve that deal.

It is understood Honda provided an emergency cash injection which allowed Super Aguri to race in the Spanish Grand Prix on 27 April, but no longer wants to divert cash away from its own racing team.

Suzuki's team, who were based in the factory formally used by the now defunct Arrows team, made its F1 debut in 2006.

The following season, with drivers Takuma Sato and Davidson at the helm, the team collected four points to finish ninth in the constructor standings, just two points behind Honda.

Super Aguri had not scored any points from four races this season with Sato's 13th place in Barcelona, where Davidson retired, their best placing.

Suzuki, 47, paid tribute to his drivers, adding: "Anthony Davidson has always pushed to the limit despite very difficult conditions.

"Takuma Sato has been with us from the very start and has always fought hard and led the team.

"Lastly, I would like to express my thanks to our fans from all over the world, who have loyally supported the team."

Super Aguri's demise is another unfortunate turn in Davidson's career, which began in 2000 when he joined BAR, which became Honda in 2005, as a test driver.

After making his Grand Prix debut in 2002 filling in at Minardi, Davidson, 28, finally got a full-time drive with Super Aguri in 2007.

Sato made his debut in 2002 with the former Jordan team before moving to BAR. The 31-year-old was dropped in 2005 and Super Aguri was partly set up to provide a drive for the Japanese racer.

SOURCE: BBC SPORT

:( This is just not fair... Why? Why? *sigh* This team had great promise and potential and yet it was left to fall apart with no financial backing :(, I will certainly miss them on the grid.

Anthony and Taku will have to get looking for drives ASAP if they are to carry on competing even at some point this year, or to Look for a drive next year.

GoodBye Super Aguri, We will miss you.

"In order to realize 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 2 years and 4 months as the SUPER AGURI F1 TEAM, 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 has succeeded in obtaining the first points after only the 22nd race finishing in 9th place overall in the 2007 Constructors' Championship.

However, the breach of contract by the 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 advise during various situations over the past couple of years all the Team Staff who have kept their motivations high and always done their best, 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 SUPER AGURI F1 TEAM."

SOURCE: ITV-F1

JAMES ALLEN'S REACTION

It's very sad news for the Super Aguri team and everyone at Leafield, and I feel for them greatly.

A series of events has led to their demise, beginning with the non-payment of a sponsorship cheque by SS United last year.

This is a great little team that, certainly in their first year, managed to punch above their weight on many occasions and served as an example of what a well-run customer squad might achieve in Formula 1.

Since their inception at the end of 2005, the debate over customer cars has gone against teams like this, and it's clear that as a business model it has no future.

Honda created Aguri to help themselves out of an awkward situation after they dropped Takuma Sato, and I think they have gone beyond the call of duty in many ways to keep the struggling B-team going.

With their own increasing need to make competitive headway, it was becoming an unwelcome distraction to have to keep Aguri going.

I feel sorry for Aguri Suzuki himself. He never had the time to build the team up and to prepare before making his entry to F1.

It was very much a 'needs must' situation and he must be feeling a bit sore about it. But I'm sure we'll see him again in some capacity in the future.

Now we have 20 cars on the grid and F1 moves on without Super Aguri.

As for the drivers, it's conceivable that Takuma Sato might pop up again, either in a Honda or Toyota capacity.

Anthony Davidson turned down a BMW test drive in order to have the possibility of racing this year and he must be slightly regretting that decision now.

But he's such a highly respected development driver that I'm sure he won't be unemployed for long.

SOURCE: ITV-F1

SUZUKI: TIME RAN OUT TO SAVE TEAM

Aguri Suzuki admitted his team simply ran out of time to secure a rescue deal afterannouncing its Formula 1 adventure was over on Tuesday.

The financially troubled squad has pulled out of the sport with immediate effect despite Suzuki's best efforts to secure its future.

After the Magma Group backed out of a planned takeover earlier this month, there seemed some hope that an offer from the German automotive firm Weigl AG could secure the team's continued participation in F1.

But after confirming his team's exit, Suzuki told a Tokyo news conference that time had finally ran out for the minnow.

"We simply ran out of time to put together a deal with Weigl," he was quoted as saying by Reuters.

"Magma pulled out suddenly, and without any explanation, and since then I have been flying all over the world talking to other companies but was unable to secure a deal.

"Financially it was just impossible to continue in F1 with the enormous budgets needed today.

"We did reach a basic agreement with Weigl but were always battling against time."

The Weigl Group's rescue package had been greeted with scepticism by Honda Racing CEO Nick Fry over the weekend, who doubted it was a big enough company to finance an F1 team.

Suzuki took the opportunity in the press conference to take a parting shot at Fry.

"I don't understand how suddenly Nick Fry needs to be commenting on everything," he said.

"Honda were our backers and he's not the CEO of Honda.

"I have no interest in Nick Fry whatsoever and have no idea what he was talking about."

Suzuki, with financial and technical support from Honda, launched the team against the odds in late 2005 and saw it punch above its weight over the next two seasons, scoring four points last year.

But despite the desperate end to the outfit's stay in F1, the former driver said he had no regrets about taking on the challenge – although he admitted he wasn't keen on an immediate return to the sport.

"It had always been my dream to be a Formula 1 owner," he said.

"The past two and a half years have flown past but I have no regrets."

He added: "I definitely need a break.

"It's a piranha club and I kind of feel that I don't want to stick my fingers back in."

SOURCE: ITV-F1

HONDA: AGURI WITHDRAWAL "INEVITABLE"

Honda insists it did everything it could to help save Super Aguri but that the demise of its B-team was ultimately "inevitable" because it was unable to secure financial backing of its own.

The cash-strapped Aguri outfit finally gave up the unequal struggle to stay in business on Tuesday morning, when it announced its withdrawal from Formula 1 with immediate effect.

Over the weekend the Leafield-based squad and driver Takuma Sato had made last-ditch pleas to Honda to consider a rescue deal involving German automotive firm the Weigl Group.

But the Japanese car giant evidently did not regard this as a credible means by which Super Aguri could sustain itself without the need for Honda assistance - which the manufacturer had made clear would no longer be forthcoming.

Honda issued a statement on Tuesday saying: "Honda has been supporting the Super Aguri F1 Team by supplying engines and financial support amongst others since its establishment in 2005.

"Honda has continued to support the team as much as possible but Aguri Suzuki, team principal, has come to Honda and expressed his decision to withdraw from Formula 1 as he is not capable of establishing a foundation for independent operation of the team.

"The Super Aguri F1 Team's withdrawal is indeed very disappointing for us but we understand that it was inevitable unless the team could find a way to stand alone by itself in the future.

"We would like to express our thankfulness to the Super Aguri F1 Team and all the fans who have supported them for sharing the dreams and fighting together with Honda."

Super Aguri had been beset by financial worries ever since its foundation in late 2005.

But those problems became life-threatening for the team after a major sponsor, SS United, defaulted on a payment midway through last year.

The budget shortfall forced it to sit out most of last winter's testing, although - displaying its characteristic fighting spirit - it made it onto the 2008 grid.

But, in hindsight, the collapse of a potential takeover by the Magma Group and Dubai International Capital shortly after the Bahrain Grand Prix sealed the team's fate.

"Especially since 2007, we have been deeply involved in discussions together with the team to find sponsors and partners," said Honda.

"At the beginning of the 2008 season, when the team started negotiations with the strong candidate Magma Group, Honda has actively cooperated by proposing many forms of support.

"Just when we thought the three groups had reached an agreement, we were told that Magma and their financial backers had decided not to pursue the deal."

SOURCE: ITV-F1

The grid will feel empty without them :(cjek

Those eliminated in Q3 will feel alone, too.

I mean, come on. This is not a loss and everyone knows it. Okay maybe we lose Super Best Friend jokes.

DAVIDSON DETERMINED TO STAY IN F1:

Britain's Anthony Davidson says he intends to stay in Formula One after financial problems forced his team Super Aguri to withdraw from the sport.

"It's a difficult time of year to suffer this bitter blow, but I'll bounce back," he told BBC Radio 5 Live. "I'm fully confident of my ability behind the wheel, and I'm sure things will be better in the future for me."

The 28-year-old started his career as a test driver for BAR and joined Super Aguri in 2007.

Super Aguri's demise is an unfortunate turn in the career of Davidson, who made his Grand Prix debut in 2002 filling in at F1 minnows Minardi.

This latest twist leaves Davidson out in the cold, with 24 races under his belt but no points from any of them.

But Davidson said he wants to remain in the sport he loves.

"I have to stick to F1. That's the priority at the moment and for the future. That's what I have to do, it's what I'm trained to do," he said.

"I really want to concentrate and get a good chance to do it properly. I really feel it's unfinished business for me in F1. I feel it's where I belong.

"But you never know in this game - you ride the up and downs on this rollercoaster.

"This has been a downward slope but I'm sure we'll bounce back.

"You begin to realise just how much you love it when it's taken away from you."

SOURCE: BBC SPORT

SUPER AGURI PUT INTO ADMINISTRATION:

Super Aguri has gone into administration a day after the team was forced to end its fight for Formula 1 survival.

The Leafield-based squad withdrew from the sport with immediate effect on Tuesday after failing to find a rescue deal that would allow it to continue following months of financial difficulties.

Financial firm PKF announced in a statement on its website on Wednesday that a joint administration team of corporate recovery partners had now been appointed to sell the outfit to a new owner.

The statement said the administrators were looking to sell the business as an "on-going concern to a company or individual looking to launch a Formula 1 or other motor sport operation" and that they had already received interest.

Joint administrator, Philip Long said: "This Administration provides a unique opportunity to get into high-level motor sport without having to build an operation from scratch.

"In terms of capability a new team could easily be up and running for the 2009 Formula 1 season.

"Virtually everything is in place including the people, the technical expertise, the laboratories and testing facilities.

"A new team could walk in and take over a fully operational unit from day one. There are a number of other motor sport projects being undertaken which should interest the motor racing world.

"I am pleased that there has already been significant interest."

The statement also confirmed that in addition to the team's two drivers Takuma Sato and Anthony Davidson, Super Aguri employed more than 90 people at its Leafield base in Oxfordshire, the same factory the now defunct Arrows team previously used.

SOURCE: ITV-F1

SATO HAS "NO INTENTION" OF QUITTING F1:

Takuma Sato has affirmed his determination to remain in Formula 1 after being left without a drive following the collapse of Super Aguri on Tuesday.

In his first public statement since the team's withdrawal, Sato expressed dismay that no solution had been found to secure its future.

The 31-year-old Japanese driver said he hadn't had time to consider the options for his future – but, like his former team-mate Anthony Davidson, insisted he would not be giving up on F1.

"At this time I am not sure what will happen next as I have been concentrating all my efforts on racing for SAF1," he said.

"I will be looking at my options with my manager and will make an announcement once it is appropriate.

"However, I have no intention to retire from F1.

"I feel I am driving at the top of my game and want to give so much more to my fans and supporters in Japan and worldwide who have been so incredibly supportive to me during my whole career."

Last weekend Sato made a last-ditch plea to Honda to facilitate a rescue deal that would enable Super Aguri to stay in business, but to no avail.

"What can I say except that I am so sad and disappointed that the Super Aguri F1 Team has had to withdraw from F1," he said.

"I realised that the situation for the team was very difficult but I really hoped that all the parties involved would find a solution.

"Unfortunately for whatever reasons this has not happened..."

Sato paid a heartfelt tribute to the team that relaunched his F1 career after he was dropped from the Honda works squad at the end of 2005.

"Super Aguri has always been a small team but with a big heart and mega spirits," he said.

"Every single person at Leafield did the most amazing job when the team started two and a half years ago by getting us to the grid in just four months, finishing in the top 10 in our very first year and scoring four points last season.

"They are a group of real professionals who can do almost the impossible.

"I have massive respect for everything that Aguri-san has done for us; he has worked so hard to keep things going.

"I will also never forget all the team members who have put so much effort into this team and would like to thank them for what was achieved it the short life of the SAF1 team.

"It is incredible to think that just one year ago we scored our first ever point and the emotion and excitement of that moment has turned to such disappointment just one year on."

SOURCE: ITV-F1