Buyers show interest in F1 team

The boss of the Honda Formula One team has said there has been interest from three potential buyers after it emerged the Japanese company planned to withdraw from the sport.

Chief executive Nick Fry told Radio Five Live: "I think we are going to be a desirable asset for somebody. We are very hopeful, as are most of the commentators in Formula One, that this team is going to take a big step upwards, so it is a big opportunity for somebody."

The team's British driver Jenson Button has reportedly been approached by the Torro Rosso team, but workers at the headquarters in Brackley, Northamptonshire, will face redundancy even if the team is rescued.

Button, who won his first Grand Prix in Hungary with the team, has been in Formula One for nine years.

Takeo Fukui, the chief executive of Honda Motors, announced it would be pulling out of motorsport and selling the team because of the economic downturn, which has had a significant on the car industry.

If a buyer can not be found they will withdraw from the 2009 competition, ending the Japanese car giant's nine-year involvement in the sport.

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