Super Aguri and Magma - The deal is off …
“Super Aguri confirms that it has been informed by Magma Group, the potential purchasers of the team, that its investors no longer wish to fund the intended acquisition. “It is with deep regret that Aguri Suzuki is now forced to consider the future of the team, however negotiations with other parties continue.”
Can’t tell this news came as a complete surprise … Not much has happened since the announcement last month and the absence of Super Aguri in Barcelona test this week indicated the continuing problems for the Japanese team. Honda’s continuing support seems to be the only short term solution. The chances of having only 10 teams and 20 cars on grid for the first time since the end of 2005 season are rather big now …
Photo: Super Aguri F1 Team
tags: Tags: Aguri Suzuki, Honda, Super Aguri
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April 17th, 2008 at 12:47 am
It’s just a big mess.
Now if the team folds, assets will only go far enough to pay off debts and Honda will look like they abandoned Super Aguri.
Was all this because of a drive for Takuma Sato
April 17th, 2008 at 3:00 am
I hope that Super Aguri will find the money to stay in formula 1.
April 17th, 2008 at 9:16 am
Aguri has not been competive, and with the lack of funding to even test, that will not change. Its a shame, as last year they did fantastic, outpacing Honda for most of the season.
While we all hate to see the number of teams decline, Super Aguri is becoming an interference to the race due to their poor speed and lack of reliability.
April 17th, 2008 at 11:02 am
Ah… parting is such sweet sorrow, most especially when the cash to continue goes with the parting.
Now comes the true test of how much Haonda wants to stay in F1. Well they let Super Aguri die on the vine and concentrate on their remaining team or save Suzuki Aguri’s dream?
marc’s last blog post..“Silver Fox” Out Foxes Flipper
April 17th, 2008 at 3:00 pm
I would say it is not only how much Honda wants the B-team. Right now it is more about whether they cut the losses and let them go under or keep pumping more money into the team hoping someone will buy in the near future. Honda is owed some serious cash by Super Aguri and without a buyer, they will never see it …
April 17th, 2008 at 4:16 pm
I hadn’t thought of the “saving it for a buyer” angle, good catch Wolf. That may very well be in the cards.
It wouldn’t be the first time a seller slathered on a new paint job and sprayed a can of “new car smell” on the interior before taking their car to the auto auction.
marc’s last blog post..“Silver Fox” Out Foxes Flipper