Super Aguri F1 Team folds due to lack of funds
10 May 2008|2,459 views
After hovering on the brink of collapse for a few weeks, the team, owned by former F1 driver Aguri Suzuki, has been forced out of business because of financial difficulties.
"Regretfully, I must inform you that the team will be ceasing its racing activities," Suzuki said in a statement.
Honda has been Super Aguri's main source of funding, but is apparently tired of diverting money from its own F1 team.
Additionally, non-payment of a major sponsorship deal at the end of last season with oil and gas company SS United plunged Super Aguri into turmoil.
After hovering on the brink of collapse for a few weeks, the team, owned by former F1 driver Aguri Suzuki, has been forced out of business because of financial difficulties.
"Regretfully, I must inform you that the team will be ceasing its racing activities," Suzuki said in a statement.
Honda has been Super Aguri's main source of funding, but is apparently tired of diverting money from its own F1 team.
Additionally, non-payment of a major sponsorship deal at the end of last season with oil and gas company SS United plunged Super Aguri into turmoil.
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