Honda out of F1

[Mo_Gearhead]

TOKYO -- Japanese automaker Honda has pulled out of Formula One, citing a slowdown in the global economy and a need to focus on its core business activities.

"We have come to the conclusion that we will withdraw from all Formula One activities, making 2008 the last season of participation," Honda CEO Takeo Fukui told a news conference Friday.

Fukui said the deteriorating world economic conditions led to the decision.


______________

...and so it begins.

[Jim Richards]

I wonder how much the shift to a single supplier (Cosworth) engine had to do with it.

[Zeke]

With 1 win and 1 pole in 3 seasons, it's no surprise.

Originally Posted by Jim Richards

I wonder how much the shift to a single supplier (Cosworth) engine had to do with it.

Well, with your namesake on a car powered by something else.... good point.

[MotoSook]

Not solely Cosworth....

These proposals are, however, only an alternative to independent teams and manufacturers will still be allowed to build engines according to their own specifications.


Regardless of whether the teams opt to use a Cosworth-built of self-built unit, all teams will use a standard transmission designed and built by XR.


The FIA plan to include the standardization of chassis components in their cost cutting plans and teams intending to use the standard F1 engine as of 2010 have until close of business on December 11 to notify the FIA.


Reportedly, the FIA will continue with their plans even four teams do not sign up for the Cosworth offer.

[boba]

F1 now spec cars

[legion]

Ferrari will never sign on for a stock engine. As long as that is the case, McLaren will be allowed to have their own too.

[scottmandue]

In the future... all racing will be NASCAR.

You will be assimilated....

[Porsche-O-Phile]

I can seriously see F1 being a casualty of this global downturn in general. Eccelstone is way too short-sighted and has gotten way too greedy, and there's just not enough money out there to support the event in its current big-dollar-ticket-only incarnation. Either the series will adapt and be a lot less interesting (team budgets 1/4 what they are today, very little new R&D) or the series will fail.

So yea, kinda' like NASCAR. Puke.

Can there really be any NASCAR with no American auto companies?

[boba]

Originally Posted by legion

Ferrari will never sign on for a stock engine. As long as that is the case, McLaren will be allowed to have their own too.

So will Ferrari and McLaren bail as well if it goes down this path? BMW, Toyota?

Wow looks like the have nots will inherit.

Berni and Max can now have a big party.

Guess Mrs E. had this figured out.

[Zeke]

F1 was suspended during WWII. It can come back if it dies. If and when that happens, it will be a new game with new players running the show. That will be good. I'd like to see good, close and fast racing, but not necessarily in today's 100 million per engine format. The chassis development is quite the thing. Let 'em be powered by turbo diesels or other. There's not a thing wrong with watching the Audis. And, they are pleasantly quiet though making enough of a presence to know you're seeing a race.

[tchanson]

Originally Posted by Porsche-O-Phile

I can seriously see F1 being a casualty of this global downturn in general. Eccelstone is way too short-sighted and has gotten way too greedy, and there's just not enough money out there to support the event in its current big-dollar-ticket-only incarnation.

Agreed. BE's current terms amount to essentially a glorified government extortion scheme. There is no possibility any longer that a private, non-government funded promoter can justify the fee.

The USGP is dead. France is dead. Hockenheim said last week that can't continue to host the German GP without government assistance. The BRDC's huge deficits in hosting the British GP at Silverstone are well documented, and I am highly skeptical that the "unnamed investors" at Donnington will do any better. Even the Chinese have been floating statements saying the cost of the Chinese GP is becoming difficult to justify.

The recent demise of the Canadian GP is instructive.

The diminutive billionaire with the horrid haircut reportedly wanted a 5 year contract. Year 1 at 26M, with 5% increases each subsequent year. Thats 143M plus over the 5 years. Guaranteed.

And as the commercial rights holder, BE also then retains all TV revenues as well as track advertising/signage revenues. Making 30M at the gate as a track owner would be a bit tough. BE has placed the blame for Canada's demise on local and provincial governments failing to recognize the economic impact and pony up public funds accordingly.

Cost cutting is essential in an era when Toyota and SF are reputed to have annual budgets exceeding 400M. Insane.

But I've yet to see a mention that perhaps the fees of the commercial rights holder may be a teensy bit high...







Tim

[dd74]

Will F1 go to Congress for a bailout?

[pwd72s]

Originally Posted by boba

F1 now spec cars

Just like NASCAR, eh?

[Jeff Higgins]

I guess this was inevitable, since not even Ross Braun could keep them from getting their arses handed to them by the start-up teams. What has gone so horribly wrong for Honda, after their glory days of powering other makes to world championships?

I'm quite sure F1 as we know it today will be quite dead before I have a chance to go see it. It's really starting to look like a couple of seasons to go before it implodes under its own weight. Max and Bernie will be left to themselves, with nothing left to miss-manage, hopefully trying to kill one another. I wonder which one will look better in a Nazi dominatrix costume...

[dd74]

In the long run, if F1 collapses as well as NASCAR, I would have no remorse. I like ALMS racing much more.

And please, bring back showroom stock racing. Why not? So many cars made today are strong enough to be right off the dealer's lot...

[Seric]

Max and Bernie have GOT to go. This is appalling. I'd rather see F1 stop completely for a period of time, instead of Mad Max and Bernie "Greedypants" make a mockery of the sport.

[carr914]

Originally Posted by milt

There's not a thing wrong with watching the Audis.

Except that Audi announced they will race the new R15 only at Sebring & Lemans.

Slavica Ecclestone recently filed from Bernie.

Tough times everywhere.

T.C.

[BGCarrera32]

Honda yanked because the return on investment was low, and this was a good time to do it. Not surprising. They very poorly leveraged the spectacle that F1 is...if you went to the Honda website- no linky to the F1 team, no F1 promotional material in the dealerships, no reflection of F1 in the greater company, etc. And the team at the management level above Nick Fry and Ross Braun was very out of focus.

And the whole "Earth Dreams" thing and the screwy livery on the cars was totally silly- if you sponsor a team(s) like Red Bull does, you put "RED BULL" big and bright down the side of the cars. Not "Earth Dreams".

Well, here's one way to exit Jenson Button from F1...

[BGCarrera32]

Yup, this screams HONDA...and really promotes the Honda brand

[Craig 930 RS]

Honda had a doofy program... a true loser in every respect - marketing, performance...yuck.