F1's Honda team was sold 'for one pound'

04-11-2009 | AFP

The team was sold cheap on condition it continued its activities

Panama Star TOKYO. Honda Motor sold its Formula One team for just one pound (1. 46 dollars) to former team principal Ross Brawn to keep it in the sport, a Japanese newspaper reported Friday.

"Since our withdrawal (in December), it was our top priority to sell the team on condition it continues its F1 activities," an unnamed Honda official was quoted as saying by the Yomiuri Shimbun. "The price was not a problem." "We could not sell the team to partners who had sought to disband it" he said.