Honda spurned Ecclestone’s offer

LONDON: Honda reportedly spurned a buy-out offer from Bernie Ecclestone that would have allowed the Formula One team to race this season.

“They should have taken what I offered. It was a very good offer for everybody concerned,” Ecclestone was quoted as saying in Sunday’s edition of The News of the World.

“It gave them complete protection but they wanted to do things on their own.”

The British tabloid said that Honda team principals Ross Brawn and Nick Fry rejected a $143 million offer from the F-1 boss, who would have then had a say in the Formula One Teams Association.

Ecclestone said that Honda must now accept a management buy-out, sell to Virgin’s Richard Branson or disband.

Branson said on Saturday that he would be interested in bringing Virgin into F-1 if the sport was greener and costs were further reduced. — AP