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Is there anything in this world that billionaire Richard Branson isn't interested in? The British tycoon already has over 360 ventures under the control his Virgin Group, and he may soon add another. According to an unnamed spokesperson for Honda, Branson is in discussions, along with other unknown interested parties, to purchase the erstwhile Formula 1 team that was formerly part of a factory-backed effort from the Japanese automaker.

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Ross Brawn, who joined the Honda F1 team as Technical Director in 2007 after an extremely successful stint across the paddock at Ferrari, has said that the now-ownerless ex-Honda F1 team he manages would like to ink a deal with its Italian competitor for engines to power its Formula 1 racers. Now that Honda has officially pulled its factory support from the program, the team will need a good, reliable powerplant if it has any chance remaining competitive, and Ferrari already supplies engines to

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Rumors yesterday indicated that Honda would be dropping out of Formula 1 for the 2009 season if a buyer wasn't quickly found. Today, CEO Takeo Fukui has made Honda's exit official. As you would imagine, racing at the top rung of motorsports is expensive, and despite the acknowledgment of such from top F1 officials and the growing sentiment that it needs to get cheaper, that's not going to happen in 2009. With global automotive sales, and therefore profits, down by alarming percentages, Honda can

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Formula One teams are continuing to develop their KERS hybrid drive systems in preparation for a 2009 season launch. This week, the Honda F1 team wrapped up its 2008 testing allotment at the Jerez track in Spain with a day of running the kinetic energy recovery system. Test driver Alex Wurz seemed to be pleased with the team's progress "Today we ran our KERS system which was a very interesting and promising experience. Every time that we run with KERS, we learn more and start to fully understand

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