FOTA hoping buyer can be found for Honda

Following this morning's news that Honda will pull out from Formula One with immediate effect and put its operation at its Brackley headquarters up for sale, the Formula One Teams' Association (FOTA) is hoping that the team will be purchased as soon as possible in order to prevent grid sizes falling below the current level of 20 cars.

"The Chairman of FOTA, Luca di Montezemolo, has been informed by the Top Management of the Honda Racing F1 Team of the decision to retire from the FIA Formula One Championship in 2009," read a short statement issued by FOTA.

"FOTA wishes that the technologically advanced expertise of the Team based in Brackley is not dispersed and that the sporting challenge is resumed soon.

"Chairman Montezemolo, interpreting the feeling of all FOTA Members, expressed his greatest appreciation for the professional and human qualities of Ross Brawn, Honda Team Principal, and Nick Fry, Honda Racing F1 Team CEO."