- Jan 30, 2008
REPORT: Super Aguri on sale for $1
Super Aguri undergoing testing at Jerez
Well that didn't take long. After only two years on the grid, Super Aguri is up for sale. Unlike most of the other "new" teams that took over and rebranded themselves from previous teams, Super Aguri actually put up the bond to join the 2006 Formula One championship as an additional entry. Since then, however, the team has had difficulty putting together the enormous budget required of a modern F1 team, falling into debt to the tune of $47 million, despite getting support from Honda and running old cars.
Now, following the emergence of Force India and the confirmation of an Indian Grand Prix in two years, another Indian business consortium is looking at buying its way into the sport. The Spice Group telecommunications company, which already sponsors Indian former F1 driver Narain Karthikeyan's Team India A1GP car, is reported to be negotiating to acquire Super Aguri. Tata, which is inching closer to its acquisition of Land Rover and Jaguar (which itself once had its own F1 team), is reported to be possibly supporting the bid. The price: $1, plus the coverage of the team's debts. The deal hasn't been finalized, but would involve bringing Karthikeyan back to the grid, and leaving Aguri Suzuki in charge. Spice confirms that it is talking with Aguri and a second team. In related news, Red Bull boss Dietrich Mateschitz has reiterated that Scuderia Toro Rosso is not for sale.
[Source: F1-Live, Photo by Denis Doyle/Getty]