The future of the former Honda Formula One team has been secured after the Japanese manufacturer agreed to pass ownership of the operation to Ross Brawn, who becomes team principal of the new Brawn GP outfit.

Virgin boss Richard Branson signalled today that he might be prepared to step in to rescue the Honda Formula One motor racing team.

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.

Jenson Button will get the chance to see his prospective new team-mates in action next week when the Honda Formula One team begin their winter testing programme in Spain.

The Honda Formula One team have split with tradition in a bid to help raise awareness of the environmental issues facing the planet.