Buzzin F1 - Formula One Blog

The Super Aguri team are in real trouble since the expected backing of the Dubai-funded Magma Group fell through.

Team insiders are not only look to other prospective buyers, but also a possible bail-out by Honda, although Honda ruled out rescuing the team on Thursday according to reports.

Honda have supplied the team with cars and engines as well as offering them financial and technical support but it seems to have scaled back its support in recent months.  A Honda spokesman said “We intend to continue the present structure or our support for Super Aguri.”  He also denied that the team had asked Honda for a rescue package after losing the Magna Group financial deal.

A Super Aguri co-owner has confirmed the dire financial status of the team, but clarified reports of a less than two-day deadline for survival.

In a recent report it claimed that the Japanese outfit needed to replace the financial deal that they had just lost, so urgently, that the teams transporters who were scheduled to leave for the Spanish Grand Prix on Saturday may be called off.

Fumio Akita, co-owner of the team did confirm that the team were in danger of not making the forth coming Barcelona race, “It’s possible” he said.

All Formula One teams are required to attempt to qualify for every Grand Prix on the calendar or can face the risk of permanent exclusion from the sport.

Akita added “Even if we have the money to go to Spain we might not be able to carry on after that”, although he did deny that Saturday is the final deadline.  “I don’t think there will be a decision until after the weekend.  It is likely to be Monday or Tuesday until we hear.  It will be very. very tight.”