Fry Denies Conflict In Honda Sale Talks

Nick Fry, the chief executive of the up-for-sale Honda Racing F1 team, has denied any conflict of interest in his role after reports suggested he was leading a potential management buy-out of the team.

Media speculation suggested that Fry is simultaneously trying to organise a management buyout while also vetting would-be purchasers following Honda’s decision to withdraw from F1 leaving the team up for sale.

Commented Fry: ‘I would like to make clear that Honda motor company, as owner of the Honda Racing F1 team, will decide on the future of our team.

‘At all times during the process of securing the future of the team, senior managers from Honda Motor Company have been present at our headquarters in Brackley to assist in making decisions and we have taken legal advice at all times to ensure no conflict of interest.

‘It is evident that attempts are being made by certain external parties to frustrate this process.’

Fry said earlier this month that Honda, who announced their decision to pull out of F1 in December because of the global financial crisis, were considering around 12 serious offers.

And he remains confident that Honda can still have a team on the starting grid at the Australian Grand Prix in Melbourne on 29th March.

‘We will not be deterred from our focus of securing a positive future for the team and our 700 employees and achieving our target of lining up on the grid in Melbourne for the start of the 2009 season,’ he said.