Richards linked with Honda rescue

Eurosport - Tue, 23 Dec 13:47:00 2008

Prodrive chief David Richards is reported to have flown to the Middle East for talks regarding a possible deal to save the Honda Formula One team.

FORMULA 1 2007 David Richards Prodrive - 0

Richards was one of the first names mentioned as a possible saviour of the Brackley-based outfit when Honda revealed it was withdrawing from the sport, having failed with his own bid to bring Prodrive onto the grid this season.

According to Britain's Mail on Sunday newspaper, Richards flew to the Middle East on Friday night to begin talks with potential investors who have expressed interest in possibly getting involved in a rescue deal.

Richards already has strong links with the Middle East after selling a stake in Prodrive to the Kuwaiti investors The Investment Dar Company, and he said that a deal could be possible 'if the timing is right'.

"There are a group of people in the Middle East who want to support a Formula One entry for me and have been very specific about it for a year now," he said. "But we have to agree when the timing is right.

"When you sit down in the cold light of day and realise the liability you would be taking on, and the huge restructuring of staff and resources that will be needed, investors will have to think long and hard before taking a punt.

"You will have to bridge a big gap in finance, probably for three years, before balancing the accounts."

Richards added that he needed to be sure that a move into F1 wasn't too big a challenge in the current economic downturn, one which has already hit Prodrive after Subaru's withdrawal from the World Rally Championship.

"It [Subaru's withdrawal] affects about 20 per cent of our business, but we are financially sound and have a talented, nimble organisation with a strong automotive arm looking at future technologies," he said. "Sentiment and perception about the relevance of motorsport has changed in six weeks with the dramatic economic downturn.

"I have not ruled out getting back into Formula One, it's something I am very interested to do. "But the big question remains: Is it too big a challenge at this moment in time? That's what I need to determine."

Reuters

Comment 5 - 24 of 64

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  1. CHRIS T, THE FAUDSTER - HE IS NOW UNDER INVESTIGATION

    From I TYSON, on Sun 21 Dec 8:59PM

  2. Come on Dave, you can do it!!! Put an Aston Martin on­ the grid!!!

    And to those questioning mouronroute, he­ has no need to comment on this story, he'll be­ along shortly to tell us that he predicted 8 weeks ago­ that Honda would drop out of F1 and David Richards­ would buy what was left of the team. It was in the­ same post where he said that a monkey had developed a­ new propulsion system for air travel that would enable­ humans to fly at 1000mph and the only by product is­ lemonade.

    From ginger_gitt, on Sun 21 Dec 8:53PM

  3. would the fake RAY T please explain why MacLaren are­ cheats and that no one else has cheated in F1

    From TYGERZI, on Sun 21 Dec 8:51PM

  4. CHRIS T THANKS IT HAS BEEN REPORTED

    From I TYSON, on Sun 21 Dec 8:48PM

  5. BERNARD STOP USING MY NAME ITS CALLED FRAUD A VERY­ SERIOUS OFFENCE

    From I TYSON, on Sun 21 Dec 8:42PM

  6. Real RAY T
    put a photo on your profile- one that­ can't be found on internet.
    There's a clown­ here who takes identities and then causes trouble.

    From Count Louis Zborowski, on Sun 21 Dec 8:39PM

  7. bernard is that you changing your name from moronroute­ to RAY T now? You are SUCH a sad little runt of a man!­ oh and it's HANG YOUR HEAD IN SHAME. Just like­ Ferrari should have done for trying to buy Massa a­ chance a the title.................you, your many­ different names and the spoiled team you support are a­ laughing stock. £30M more than ANY other team and you­ STILL lost! Carefull when you re-fuel your car, you­ might leave the hose attached hahahahahaha!
    Get it­ RIGHT up you!
    FROM CLYPSY DUCK

    From I TYSON, on Sun 21 Dec 8:36PM

  8. bernard is that you changing your name from moronroute­ to RAY T now? You are SUCH a sad little runt of a man!­ oh and it's HANG YOUR HEAD IN SHAME. Just like­ Ferrari should have done for trying to buy Massa a­ chance a the title.................you, your many­ different names and the spoiled team you support are a­ laughing stock. £30M more than ANY other team and you­ STILL lost! Carefull when you re-fuel your car, you­ might leave the hose attached hahahahahaha!
    Get it­ RIGHT up you!
    FROM CLYPSY DUCK

    From I TYSON, on Sun 21 Dec 8:36PM

  9. CLIPYSDUCK WELL SAID

    From I TYSON, on Sun 21 Dec 8:35PM

  10. f1junky1000, you are a genuine F1 fan not a windup­ merchant like some. I worked in Motorsport for several­ years and have many friends still in the business so I­ get to hear the inside details.

    From TYGERZI, on Sun 21 Dec 8:30PM

  11. CLIPYSDUCK WELL SAID

    From I TYSON, on Sun 21 Dec 8:19PM

  12. It would be nice to read some comments about the­ article. Never mind.

    From paul t, on Sun 21 Dec 8:17PM

  13. Tygerzi,
    yes thanks for dragging it back.
    I came here­ to read the article and the first comment here was by­ Bernard praising Touronroute.
    Now I am no genius but­ you only praise a comment by someone if they had put­ one down.
    Anyway I wish Dave Richards all the luck with­ this project and I hope he removes every Honda DNA when­ he takes over after the way he was treated by them and­ also after how shabbly they have run the team.

    From f1junky1000, on Sun 21 Dec 8:09PM

  14. BERNARD IS F-CKING MAD

    From I TYSON, on Sun 21 Dec 8:08PM

  15. LEWIS WORLD CHAMP LOVE IT

    From I TYSON, on Sun 21 Dec 8:07PM

  16. Look Ferrari die-hards: Hamilton won in Spa, he was­ cheated out of that victory, and wee Filipe got a wad­ of extra free points. Massa also got a free point for­ being 'impeded' by Vettel in an incident that­ raised almost every eyebrow in F1, except Ferrari.­ Then, of course, there were the many lenient­ punishments for Ferrari's repeated pit lane chaos -­ what was that all about?
    So, all in all, that there was­ anything to drive for in Brazil was down to the favour­ of the FIA, nothing else. Justice was done.

    From I TYSON, on Sun 21 Dec 8:06PM

  17. HELLO SOME ONE HAS GOT MY NAME WELL WELL

    From I TYSON, on Sun 21 Dec 8:04PM

  18. Well done Tygerzi for trying to drag it back to the­ above article !!!!!

    From m.e.jenner, on Sun 21 Dec 7:47PM

  19. I said last week that Richards was trying to raise­ money and my guess it was to buy Honda F1. Even with­ his Middle East backers he will still need some big­ advertising sponsors. Good luck to him but it is rather­ risky.

    From TYGERZI, on Sun 21 Dec 7:37PM

  20. bernard is that you changing your name from moronroute­ to RAY T now? You are SUCH a sad little runt of a man!­ oh and it's HANG YOUR HEAD IN SHAME. Just like­ Ferrari should have done for trying to buy Massa a­ chance a the title.................you, your many­ different names and the spoiled team you support are a­ laughing stock. £30M more than ANY other team and you­ STILL lost! Carefull when you re-fuel your car, you­ might leave the hose attached hahahahahaha!
    Get it­ RIGHT up you!

    From crispyduck, on Sun 21 Dec 7:19PM
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