Buzzin F1 - Formula One Blog

The Super Aguri Team have today released another statement with regards to the future of their Formula One team.

Last Wednesday the team confirmed that it’s investors, the Magma Group, no longer wished to fund the intended acquisition.

The team in the meantime have been in further talks with the Magma Group as well as other parties as the staff and equipment continued to make there way to the Circuit de Catalunya for this weekends Spanish Grand Prix as planned.

Although the team are now in Spain, it is still unclear if they will be able to participate in the race itself.  This statement has been released as the team continue with last minute negotiations.

“Further to the statement issued by SUPER AGURI F1 TEAM on Wednesday 16th April 2008 we advise that discussions regarding investment are on going, however, due to legal conditions, we are unable to expand on, allude to or provide further details regarding this confidential matter at present.”

“We would like to thank our Team partners, suppliers, our fans and colleagues in the media for their continuing patience and support, and we look forward to our weekend at the Barcelona Grand Prix.”

There had been speculation earlier that a new deal was about to be struck with the Magna Group but even it that is the case it will still depend if the contracts can be signed in time to allow Takumo Sato and Anthony Davidson to race on Sunday.

Honda, who supply the Super Aguri with free cars, engines and technical support are allegedly insisting that contracts must be signed before the cars can exit the pit garage.