Rebranded Honda F1 team secures future

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.

The deal secures the future of drivers Jenson Button and veteran Brazilian Rubens Barrichello, who saw off the challenge of compatriot Bruno Senna for the second seat.

Brawn GP has agreed a deal with Mercedes for a supply of engines in the 2009 F1 season, which gets under way in Australia on March 29.

The future of the England-based outfit had been up in the air since early December when Honda confirmed they were ending their involvement in F1 due to the global economic downturn.

Today's management buyout secures the jobs of hundreds of staff at the team's Northamptonshire headquarters, and Brawn admitted the agreement has brought an end to a difficult period of negotiations.

"The past few months have been extremely challenging for the team but today's announcement is the very pleasing conclusion to the strenuous efforts that have been made to secure its future," said Brawn.

"Firstly, it is a great shame that having worked with Honda Motor Company for so long we can no longer continue together.

"I would like to thank Honda for the fantastic co-operation and support we have received throughout this process - particularly those members of the senior management who were closely involved with concluding our agreement - and for the faith they have demonstrated in myself and our team.

"I would also like to take this opportunity to pay due credit to our staff at Brackley. The levels of motivation and commitment that I have witnessed at the factory deserve the highest praise."

Brawn, who served as Ferrari's technical director for a decade before moving to Honda at the start of last season, added that he was happy to see the partnership of Button and Barrichello continue for another season.

"I am delighted that Jenson Button and Rubens Barrichello will form our race driver line-up for the 2009 season," he said.

"The vast experience and knowledge that both drivers bring to our team will prove invaluable as we aim to get up to speed in the shortest possible time to be ready for the first race of the season in Melbourne on March 29.

"In what will be their fourth season together, their experience with our team in Brackley, our systems and our engineers, will prove a real asset."

A business department spokesman said: "We very much welcome today's announcement. This is a positive development and further confirmation of the UK's position as the prime location for F1 teams' global activities.

"The announcement will secure the future of the Brackley site and support the UK high performance engineering sector that underpins the design and innovation of the technology that drives today's F1 cars.

"We wish Ross Brawn and the team every success in the coming season."