Super Aguri - Magma deal off
Super Aguri Honda announced this afternoon that the proposed and widely reported deal between themselves and the Magma Group is no longer being pursued.
The cash-strapped team are not attending this week`s group test in Barcelona and the very future of the team - short term and long term - is now thought to be in questions.
As reported earlier today, the team may look to technical partner and long-term backer Honda for the funding to continue its participation in the sport. The following is a press release from the team.
Statement from Aguri Suzuki
“Super Aguri F1 Team confirms that it has been informed by Magma Group, the potential purchasers of the team, that its investors no longer wish to fund the intended acquisition.
“It is with deep regret that Aguri Suzuki is now forced to consider the future of the team, however negotiations with other parties continue.”
E.A.
16.4.2008 ▪ Formula One ▪ Super Aguri ▪ en.f1-live.com
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