News Releases 2008

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May 6, 2008

Honda's Statement Regarding Super Aguri F1 Team Announcement

Honda has been supporting the Super Aguri F1 Team by supplying engines and financial support amongst others since its establishment in 2005. Especially since 2007, we have been deeply involved in discussions together with the team to find sponsors and partners.

At the beginning of the 2008 season, when the team started negotiations with the strong candidate MAGMA Group, Honda has actively cooperated by proposing many forms of support. Just when we thought the three groups have reached an agreement, we were told that MAGMA and their financial backers had decided not to pursue the deal.

Honda has continued to support the team as much as possible but Aguri Suzuki, Team Principal, has come to Honda and expressed his decision to withdraw from Formula One as he is not capable of establishing a foundation for independent operation of the team.

The Super Aguri F1 Team's withdrawal is indeed very disappointing for us but we understand that it was inevitable unless the team could find a way to stand alone by itself in the future.

Hiroshi Oshima
Operating Officer
Honda Motor Co., Ltd.