Formula One
Super Aguri withdraws from F1
By DPA
May 6, 2008, 14:29 GMT

Leafield, Britain - The Super Aguri team on Tuesday announced its withdrawal from Formula One racing after little more than two years in the sport, citing financial difficulties.

Team boss Aguri Suzuki said in a press release that the Britain- based Japanese team will cease all activities immediately. The move comes after Honda were allegedly were no longer interested in investing into Super Aguri and other sponsors deals could not be finalized.

The announcement, made in Tokyo and at the team#s British headquarters in Leafield, came after Super Aguri and Honda seemingly failed to reach an agreement with a new investor, the German automotive company Weigl, earlier in the day.

Super Aguri competed in the sport since 2006, the best result being sixth place from Takuma Sato at the Canadian Grand Prix in 2007. The 2008 drivers were Sato and Briton Anthony Davidson.

The end already seemed imminent on Sunday when the Super Aguri trucks were denied entry into the paddocks for Sunday's Turkish Grand Prix, allegedly by request of Honda.

Honda had helped the team stay afloat when Super Aguri ran into financial trouble last summer after their sponsors, the Hong Kong- based oil trading company SS United Group, did not meet their full financial obligations.

'The breach of contract by the promised partner SS United Group Company Limited resulted in the loss of financial backing and immediately put the team into financial difficulties.

Also, the change in direction of the environment surrounding the team, in terms of the use of customer chassis, has affected our ability to find partners,' said Suzuki on Tuesday.

'Meanwhile, with the help of Honda, we have somehow managed to keep the team going, but we find it difficult to establish a way to continue the activities in the future within the environment surrounding F1 and as a result, I have concluded to withdraw from the championship.'

Earlier, talks with British company Magma had also fallen through, and it did not help the team's cause that all teams will have to build their own car in the future and can not rely on custom cars from others.

Super Aguri are the latest victim in the sport who had to quit over financial trouble as F1 is nowadays ruled by teams from carmakers such as Mercedes, Honda, BMW, Toyota and others.

Teams like Prost, Jordan and Arrows had to close down or were sold in the past.

Suzuki, Japan's most successful driver in F1 history, thanked his team, the drivers and the fans.

'Anthony Davidson ... has always pushed to the limit despite the very difficult conditions, Takuma Sato who has been with us from the very start and has always fought hard and led the team,' Suzuki said.

The F1 championship will now continue with 10 teams.