The Formula One Times Breaking News: Richards to the Rescue?

The Formula One TimesCorrespondent IDecember 21, 2008

F1 Times, Dec. 21st edition, breaking news story!


Richards to the Rescue?

David Richards, owner of Prodrive and Chairman of Aston Martin has flown to Kuwait to meet with his current investors, in the hope they will raise the money needed to buy out Honda.

Nothing has yet been confirmed, only that David Richards intentions are to find a backer to buy out the Brackley based team. 

"There are a group of people in the Middle East who want to support a Formula One entry for me and have been very specific about it for a year now. But we have to agree when the timing is right," Richards told The Mail on Sunday.

"When you sit down in the cold light of day and realise the liability you would be taking on, and the huge restructuring of staff and resources that will be needed, investors will have to think long and hard before taking a punt," he added.

"You will have to bridge a big gap in finance, probably for three years, before balancing the accounts."

Richards has recently found some spare time after his Prodrive/Subaru team quit the WRC. This is his perfect chance to get back into F1, which he has always intended to do.

"I have not ruled out getting back into Formula One, it's something I am very interested to do."

He may have some competition though, it's rumored both Vijay Mallya (Force India owner) and Achilleas Kallakis Greek shipping tycoon) are looking to buy the team.