Honda exit shocks F1 world - AutoWeek MagazineThe Formula One world has been turned upside down by Honda's decision to pull out of the sport effective immediately.
The Honda decision happened very quickly in the course of this week, and was confirmed at a press conference in Tokyo on Friday morning.
Company president Takeo Fukui said: "Honda must protect its core business activities and secure the long term as widespread uncertainties in the economics around the globe continue to mount. We will enter into consultation with associates of Honda Racing F1 and its engine supplier Honda Racing Development regarding the future of the two companies. This will include offering the team for sale."
F1 Spec racing??The news brought a quick response from FIA boss Max Mosley, who is pushing for teams to use a standard engine and gearbox package from 2010. He says that Cosworth, out of F1 since its last season with Red Bull in 2005, had been awarded tender to provide it. Teams can also build their own copies of the standard engine or run their current engines in a restricted form. He says all teams will have to use the same gearbox, provided by a joint venture between Xtrac and Ricardo.