In a bid to stop these stories, Slim's company has issued this statement: "The Telmex Team can confirm that Carlos Slim Helu has not bought the Honda F1 team nor is holding any negotiations to do so. Therefore all information related to this subject has no basis and is completely false."

Honda's team principal, Ross Brawn, also denied the claims. "We would love it if it were true," he told the Daily Telegraph,  "but it's pure speculation from various members of the media. It's just been one of those rumours which has developed a life of its own."

Brawn remains confident a buyer will be found. "There has been a huge amount of interest," said Brawn. "It's now got to the stage where we need to filter out the serious from the not so serious. We're all hopeful that something will happen and we're anxious to turn up the wick again in the new year."

"We haven't really lost anything yet as it has still only been a few weeks. Everything is in place although we have had to turn down various programmes," he added. "We have enough funding to get us through to Melbourne and we still have a competitive package."

RealHondaF1.com, who correctly stated Slim has not purchased the team, understands there are four serious bids for the Brackley squad.

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