This Friday, December 5th, Honda Racing surprisingly announced that it could no longer secure its place in Formula 1. There are many reactions. Here is a selection of the main reactions:<\/p>\n
Bernie Ecclestone – Formula 1’s Chief Financier:<\/b><\/p>\n
\u00ab It is a great disappointment for Honda because the team would certainly have brought excitement to the next four years of Formula 1 without any issues. \u00bb<\/p>\n
\u00ab The whole team worked hard and spent a lot of money to get into such a position, so the solution now is the buyout. This is further proof of the difficulty for companies to make profits. \u00bb<\/p>\n
Max Mosley \u2013 President of the FIA<\/b><\/p>\n
The FIA president wants budgets to be reduced by 10 to 20% from the current level by 2010, which would bring them down to around 40 million euros.<\/p>\n
\u00ab I learned that one of the main manufacturers was pulling out. Now, it is hard to imagine how a team could stay in place unless substantial cost reductions are made. \u00bb<\/p>\n
He plans to meet with the Formula 1 teams in the coming days to discuss the future of this major project of cost reduction.<\/p>\n
FOTA \u2013 Association of Formula 1 Teams<\/b><\/p>\n
The president of FOTA, Luca di Montezemolo, was informed by the management of the Honda Racing F1 Team of its decision to withdraw from the 2009 Formula 1 World Championship.<\/p>\n
\u00ab The FOTA wishes for an assessment to be carried out within the Brackley-based team so that Honda can rise from its ashes with a buyout. \u00bb<\/p>\n
The president of Ferrari, on behalf of all FOTA members, acknowledged the professional and human qualities of Ross Brawn, team principal of the Honda team, as well as those of Nick Fry, CEO.<\/p>\n
Jacques Villeneuve – Former F1 Champion:<\/b><\/p>\n
I don’t think Honda was the team with the most expenses in F1 but with the current economic context, the situation is very tense. I believe it’s more of a political decision.<\/p>\n
\u00ab It’s surprising because we weren’t expecting such news, but when we look at the performance of F1 teams over the past few years, they have been struggling. From the outside, it makes sense. \u00bb<\/p>\n
Frentzen, former Formula 1 driver:<\/b><\/p>\n
\u00ab It’s sad to see a team disappear that had committed for the long term, particularly with the arrival of Ross Brawn. It’s a big surprise. \u00bb<\/p>\n","protected":false},"excerpt":{"rendered":"
This Friday, December 5th, Honda Racing surprisingly announced that it could no longer secure its place in Formula 1. There are many reactions. Here is a selection of the main reactions: Bernie Ecclestone – Formula 1’s Chief Financier: \u00ab It is a great disappointment for Honda because the team would certainly have brought excitement to […]<\/p>\n","protected":false},"author":5,"featured_media":43402,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,1749],"tags":[596],"class_list":["post-25438","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-f1","category-news","tag-honda"],"acf":[],"yoast_head":"\n