Brawn GP take over Honda Formula One team

March 6, 2009 Brawn GP have completed their takeover of the Honda Racing F1 Formula One team. The management buyout, led by team principal Ross Brawn, was a result of Honda announcing their intention to withdraw from the sport in December 2008 as a result of the current economic climate.

Jenson Button and Rubens Barrichello, Honda's drivers for the 2008 season, will be retained by Brawn GP for the upcoming 2009 season. The team will continue to be based at Honda Racing F1's Brackley headquarters in Northamptonshire, England. Engines for the cars will be made by Mercedes Benz.

Ross Brawn said of the announcement: "The vast experience and knowledge that both drivers bring to our team will prove invaluable as we aim to get up to speed in the shortest possible time to be ready for the first race of the season...I would also like to take this opportunity to pay due credit to our staff at Brackley. The levels of motivation and commitment that I have witnessed at the factory deserve the highest praise."

The Managing Officer of Honda, Hiroshi Oshima, said that the company was "very pleased that we could sell the team to Ross Brawn, with whom we have been partaking in the challenges of F1 competition, and are grateful for his decision. We offer our sincerest wishes for the new team which will be led by Ross."

The team have three weeks remaining until the opening round of the 2009 Formula One World Championship in Australia on March 23.