Honda is yet to find a "serious buyer" for its formula one team, the Japanese carmaker's outgoing chief executive Takeo Fukui told a news conference on Monday.

Honda is yet to find a "serious buyer" for its formula one team, the Japanese carmaker's outgoing chief executive Takeo Fukui told a news conference on Monday.

"There are various offers for the team but we have not seen any serious buyer yet," he is quoted as saying.

"We find the sale process difficult."

Fukui's comments follow speculation that the interest of the Virgin Group might have scuppered the finalisation of a management buyout headed by Nick Fry and Ross Brawn and some other chiefs of the Brackley based team.

30 days remain until scrutineering for the 2009 season opener in Australia.

 

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