Brawn set to seal Branson deal

Richard Branson is to move into Formula One, but as a sponsor rather than team owner.

A month ago Branson was seriously linked with a takeover of Honda Racing, only for Ross Brawn to conclude a management buy-out.

However, it has now emerged Branson is to sponsor Brawn GP, who are favourites to win Sunday’s season-opening Australian Grand Prix with Jenson Button and Rubens Barrichello in the driving seats.

Formula One supremo Bernie Ecclestone has been a key player behind the multi-million deal that will see the previously unliveried team now sport the famous Virgin Group logo, although it is understood they will not be the title sponsor.

“Virgin and Brawn have come to commercial terms which he (Branson) thinks are viable. Both he and the team are happy,” Ecclestone told The Times.

“I’ve been pushing, pushing, pushing and pushing. If they hadn’t done it, Richard and I would have done it (facilitated the deal) anyway.

“But I am delighted they have just got going on it and have a deal in place. It’s good for the team, good for Formula One, I’m very happy with it.”

Branson is expected to fly into Melbourne tomorrow to confirm the deal, cutting short a family skiing holiday.