The Power of Dreams turns to Hours of Screams...

Honda announced today that Jenson and his mates at the Honda F1 team are out of a job as the the Credit Crunch hits the first F1 team. They are all due to receive a letter before Christmas confirming they are to be made redundant.


O my shattered nerves!!! If Honda has problems staying in F1 are we going to see Formula 1 racing with just 2 teams next year??? Not sure it will be any different from this year. Maybe we should just give the trophy to Lewis now and call F1 off next season.

Honda's Racing team employs about 800 people directly with their HQ in in Brackley, Northamptonshire. They are now looking for a buyer and hopefully the team can be sold and we'll see their name change and still be in the running for 14th spot.

According to the BBC News

Honda will assume the existing debts, and, it is understood, will sell the team for a nominal figure - perhaps as little as £1, said BBC sport correspondent Adam Parsons.

Honda have won only one race in the past three seasons and last year achieved only one podium position thanks to Rubens Barrichello.

Jenson Button is the other driver in the team.

The team's total budget for the past year, including work done in Britain and Japan, is believed to be just short of $500m.

Adam Parsons said this was "a stunning shock" for motor racing.

He said Honda was considered one of the best funded and most dedicated teams, despite its poor results.

Who wouldnt be interested to buy all that investment at Credit crunch Prices? I am starting a pool and have added my life savings (£2.43).