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David Richards pulls out of Honda buyout
By Phil Huff
January 12 2009
David Richards has ruled out the possibility of having his Prodrive organisation purchase Honda Racing F1, although RealHondaF1.com understand there was never a serious possibility of that happening.

Richards' Prodrive team had been linked with a buyout of the Brackley based squad following Honda's announcement that they are to withdraw from Formula One. However, despite attempting to gain backing from a Kuwaiti investment firm, Prodrive have now pulled out of the bidding.

"All I can say is that I have made it very clear that the only terms I would ever consider a return [to Formula One] or an involvement was if I felt we could be competitive - and nobody expects to win in their first year of Formula One," Richards told visitors to the Autosport show.

"It has also got to be financially viable. You expect to invest but you also expect it to work. I just personally feel that the current environment is too unsettled. The cost-cutting process that has been put in place has not yet seen its full benefit, and I don't think it will be until 2010 that you will see those issues roll out properly. The teams have still got a burden of overhead that is unsustainable. So consequently, with the window of time for entry, I just question whether it is right at the moment."

Richards led the then BAR Honda team before Honda's buyout, with the team enjoying their most successful years his leadership. Racing against a dominant Michael Schumacher in a superior Ferrari, the BAR team ended up 'best of the rest', scoring a total of 119 points in 2004, 33 more than Honda's best effort in 2006.

Asked about whether his organisation will return, and under what circumstances, Richards was clear. "It will be a business decision. It will be a hard-headed business decision, not an emotive one when I make it."

Whilst Richards has been criticised in some quarters for that stance, with some suggesting he somehow lacks the desire to go racing, one has to remember that he is responsible for the jobs of hundreds of staff, and risking the Prodrive organisations future in order to make a point would be a foolhardy approach.

RealHondaF1.com also understands that Prodrive may still be involved in a number of bids, acting as contractors to run the team, leaving the bills to be paid by the eventual team owners.

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