Sport McLaren drivers (left to right) Kevin Magnussen, Jenson Button and Stoffel Vandoorne at the launch of the new MP4-29 car at their base in Woking

British driver considered options but is looking forward to revitalised McLaren

Honda F1 team expected to survive

The former Honda Formula One team sent a clear message that they will be racing this season when chief executive Nick Fry said on today that an announcement was expected "very shortly".

Honda F1 team close to deal

Honda is close to a deal on the sale of its Formula One motor racing team, Japan's biggest circulation newspaper said today, without identifying the buyer.

Coulthard predicts Hamilton will improve

David Coulthard believes Formula One will see a different Lewis Hamilton this year and predicts the current world champion will get even better.

No 'serious' buyer for Honda team

Honda Racing's hopes of competing in Formula One this season appear to have suffered a crucial blow as their Japanese bosses have today stated they cannot find a "serious buyer" for the team.

Honda uncertain on F1 buyout

Honda has warned that a disbanding of its Formula One team remains a possibility as negotiations continue with potential buyers.

Mexican billionaire denies Honda interest

Mexican billionaire Carlos Slim and Honda team principal Ross Brawn have denied they are in talks over a potential takeover of the Formula One outfit.

Dom Joly: Personality? Bring on the rats, dullards and disappointments

Weird World of Sport: It was exciting and I screamed until hoarse, then nearly fell asleep as she talked about it

Red Bull may be heading for F1 scrapyard with Honda

Formula One is experienced at dealing with shocks. In the past year it has been hit with spying scandals, accusations of race rigging and seen the colourful sex life of Max Mosley, head of F1's governing body, splashed over the media. But that did not prepare F1 for the shock on Friday when it was announced that Honda, one of the best-funded teams, would pull out of the sport if no one came forward to buy them. Like their superstar drivers, F1 team bosses are used to feeling invulnerable but this news burst a bubble and showed them even this industry is not immune to recession.

Jeremy Warner: Now the credit crunch hits Formula One

Outlook: Is nothing immune to the ever- widening embrace of the credit crunch? Taking a rare break from the dungeon, Max Mosley, president of the Fédération Internationale de l'Automobile, Formula One's governing body, went on the telly yesterday to say the industry will have to slim down its cost base dramatically following the decision by Honda to withdraw from the sport.

More teams could crash out of F1, warns Mosley

Formula One teams will fall like dominoes unless they take “dramatic” action to slash hundreds of millions of pounds from their budgets, the motorsport boss Max Mosley said last night, in the wake of Honda’s announcement that it was quitting top-level racing.

Credit crisis diary 06/12/2008

End of an era as motor fiend Sir Fred leaves

There is a feeling of fin de siècle about the withdrawal of Honda from Formula One, coming so soon after the exit of Sir Fred Goodwin, right, from Royal Bank of Scotland. Sir Fred's only known pastimes were golf, car maintenance and F1, and under his leadership RBS spent millions every year sponsoring the Williams team and advertising at races. The bank also provided debt for the private equity firm CVC to buy F1. With an austere prime minister calling the shots and Stephen Hester taking a hatchet to Sir Fred's empire, it's a good thing for Williams that the sponsorship was renewed earlier this year.

Potential buyers eye up Honda F1 team

Potential buyers have expressed interest in the Honda Formula One team, its chief executive said, after the car giant announced it would pull out of the sport without a new owner.

Honda boss reveals early interest in buy-out

Honda CEO Nick Fry today revealed a trio of prospective buyers have already made clear their interest in taking over the team.

Glamour of F1 falls victim to economic turmoil

Many would have assumed the glamorous world of Grand Prix motor racing would have been immune from the current economic turmoil.

Ecclestone: Honda pullout a 'wake-up call'

Formula One boss Bernie Ecclestone says Honda's withdrawal from the sport provides a "wake-up call" to overspending teams.

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