Super Aguri buyout collapses
Filed Under: F1 News, Super Aguri
Super Aguri have released a statement confirming that their potential purchasers the Magma Group, have pulled out of the planned acquisition. The team have also confirmed that current team principal Aguri Suzuki is continuing his negotiations with other potential purchasers.
The Magma Group, representing Middle Eastern investors Dubai International Capital, revealed to Suzuki earlier today that they no longer wished to purchase the Japanese F1 squad. The news means that the future of Super Aguri in Formula 1 is now in jeopardy.
A statement from Super Aguri read, “Super Aguri F1 team confirms that it has been informed by Magma Group, the potential purchasers of the team, that it’s investors no longer wish to fund the intended acquisition.
“It is with deep regret that Aguri Suzuki is now forced to consider the future of the team, however negotiations with other parties continue. The team will issue a further statement in due course.”
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rangutan | Apr 18, 2008 | Reply
Should “Volvo” or “Vw” save the Super Aguirie team ? Good opportunities!
Mikeme | Apr 19, 2008 | Reply
It may be that interested parties will wait for the Mosley decision before jumping into F1. Can we be sure that the Mosley issue had absolutely nothing to do with the cancelled take-over? It’s all bad timing for Aguri. If Honda were smart they should try to get control here because they obviously need a back-up or parallel approach. (Why put all your eggs into one basket that is not delivering? If the F1 team count is below 12, the FIA should allow the running of two teams (A and B) for an agreed period. If a new entity wants to enter F1, they must acquire a B team.)