Super Aguri Team Out Of F1

As expected, the Super Aguri F1 team has withdrawn from the Formula One World Championship because of a lack of funding.

The Japanese team have wound up their racing activities with immediate effect and will not compete at this weekend’s Turkish Grand Prix.

Super Aguri have been struggling for survival since the collapse of a takeover deal in April by the Dubai-based Magma Group.

It means British driver Anthony Davidson is now without an F1 drive.

Team founder Aguri Suzuki broke the news in Japan saying: ‘Regretfully I must inform you that the team will be ceasing racing activities. The loss of financial backing put the team into financial difficulties.

‘The change of direction of the environment surrounding the team, in terms of the use of customer chassis, has also affected our ability to find partners. With the help of Honda, we have somehow managed to keep the team going, but we find it difficult to establish a way to continue the activities in the future so I have concluded to withdraw.

‘I have been very happy that I was able to achieve a miracle and become a team owner.’

Super Aguri announced last week an 11th hour deal for Germany’s Weigh Group to take a ‘substantial shareholding’ but it now seems likely Honda did not approve that deal.

It is understood Honda provided an emergency cash injection which allowed Super Aguri to race in the Spanish Grand Prix on 27th April, but no longer wants to divert cash away from its own racing team.