Honda takes full control of BAR
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From: Toronto & FnF ssauga
Honda takes full control of BAR
Honda takes full control of BAR
Honda will decide on a team name for 2006 in due course
Japanese car manufacturer Honda plans to go it alone in Formula One from next year after acquiring a 100% stake in the BAR Honda team on Tuesday.
Honda announced its buyout of founding owner British American Tobacco's 55% share ahead of this weekend's home Grand Prix in Suzuka.
Honda will name their new team for 2006 in agreement with future sponsors.
"We want to challenge for the championship," said Honda's operating officer Hiroshi Oshima.
"We want to race as Honda and we want to take the team in a better direction."
Oshima explained that the Japanese giant had begun negotiations in the summer to increase its share from 45% to full acquisition.
BAR were runners-up to Ferrari in the constructors' title last season with drivers Jenson Button of Britain and Japan's Takuma Sato.
Meanwhile, Sato, who has lost his BAR seat for next season, said he had been offered a drive by an as-yet unnamed group hoping to establish F1's 11th team next year.
"It's not confirmed that this new team will race but I have received an offer," said the 28-year-old.
"I'm not planning to quit Formula One. I have to keep going and look for a solution."
Honda also said they were considering supplying engines to the new team.
Honda's operating officer Hiroshi Oshima said: "(Formula One supremo) Bernie Ecclestone has given the team his blessing and we are looking into the possibility of supplying their engines."
Honda will decide on a team name for 2006 in due course
Japanese car manufacturer Honda plans to go it alone in Formula One from next year after acquiring a 100% stake in the BAR Honda team on Tuesday.
Honda announced its buyout of founding owner British American Tobacco's 55% share ahead of this weekend's home Grand Prix in Suzuka.
Honda will name their new team for 2006 in agreement with future sponsors.
"We want to challenge for the championship," said Honda's operating officer Hiroshi Oshima.
"We want to race as Honda and we want to take the team in a better direction."
Oshima explained that the Japanese giant had begun negotiations in the summer to increase its share from 45% to full acquisition.
BAR were runners-up to Ferrari in the constructors' title last season with drivers Jenson Button of Britain and Japan's Takuma Sato.
Meanwhile, Sato, who has lost his BAR seat for next season, said he had been offered a drive by an as-yet unnamed group hoping to establish F1's 11th team next year.
"It's not confirmed that this new team will race but I have received an offer," said the 28-year-old.
"I'm not planning to quit Formula One. I have to keep going and look for a solution."
Honda also said they were considering supplying engines to the new team.
Honda's operating officer Hiroshi Oshima said: "(Formula One supremo) Bernie Ecclestone has given the team his blessing and we are looking into the possibility of supplying their engines."
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From: West Henrietta UPSTATE NY
Now this is great news! Not only would it be great to get rid of BAR/BAT and all their problems, the whole idea of a new team being added to our sport is just over the top good.
So Simon, there is only one more thing I need to hear to make this perfect - please tell me David Richards is going to go away like Paul Stoddart.
So Simon, there is only one more thing I need to hear to make this perfect - please tell me David Richards is going to go away like Paul Stoddart.
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From: West Henrietta UPSTATE NY
These tobacco companies sure make things intertesting...
OCTOBER 4, 2005
Exit BAT - with a message for its rivals
British American Tobacco has confirmed that it has agreed the sale of its 55% stake in BAR Honda to the Honda Motor Company. The sale, which will be completed on December 31, means that Honda Motor will end up owning 100% of the team, which was established eight years ago after the purchase of the old Tyrrell team. BAT will remain tha team's primary sponsor in 2006 but will then honour its commitment to the International Tobacco Marketing Standards agreement, signed in New York City on September 11 2001. This was a deal between Philip Morris, British American Tobacco and Japan Tobacco which defined the minimum restrictions which the companies agreed to place on themselves. They created a common code of advertising and sponsorship standards which included an agreement to end sports sponsorships on December 1 2006 on the understanding that the sport involved requires "above-average physical fitness for someone of the age group of those taking part".
"It will be sad to end our association but it is immensely satisfying to leave the team in the competent hands of Honda who are proven winners in the sport," said BAT's director of marketing Jimmi Rembiszewski. "
The BAT announcement included a clear hint to its rival tobacco companies that it expects them to honour the agreement as well. Philip Morris recently announced that it will be continuing its sponsorship of Ferrari until the end of 2011, although it did not say that the cars would be seen running in Marlboro colours. Philip Morris may well opt to sell the space on the cars to other companies.
Exit BAT - with a message for its rivals
British American Tobacco has confirmed that it has agreed the sale of its 55% stake in BAR Honda to the Honda Motor Company. The sale, which will be completed on December 31, means that Honda Motor will end up owning 100% of the team, which was established eight years ago after the purchase of the old Tyrrell team. BAT will remain tha team's primary sponsor in 2006 but will then honour its commitment to the International Tobacco Marketing Standards agreement, signed in New York City on September 11 2001. This was a deal between Philip Morris, British American Tobacco and Japan Tobacco which defined the minimum restrictions which the companies agreed to place on themselves. They created a common code of advertising and sponsorship standards which included an agreement to end sports sponsorships on December 1 2006 on the understanding that the sport involved requires "above-average physical fitness for someone of the age group of those taking part".
"It will be sad to end our association but it is immensely satisfying to leave the team in the competent hands of Honda who are proven winners in the sport," said BAT's director of marketing Jimmi Rembiszewski. "
The BAT announcement included a clear hint to its rival tobacco companies that it expects them to honour the agreement as well. Philip Morris recently announced that it will be continuing its sponsorship of Ferrari until the end of 2011, although it did not say that the cars would be seen running in Marlboro colours. Philip Morris may well opt to sell the space on the cars to other companies.
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