Super Aguri News

Super Aguri Formula 1 Team – In administration


May 7 2008
Corporate Recovery Partners Philip Long, Ian Gould and Brian Hamblin from PKF Accountants & business advisers were yesterday evening appointed joint administrators to the Super Aguri Formula 1 Team.

The joint administrators are seeking to sell the business as an on-going concern to a company or individual looking to launch a Formula 1 or other motor sport operation. Several expressions of interest have already been received.

The Super Aguri Team, based at the Leafield Technical Centre in Langley, Oxfordshire, has raced in Formula 1 since the 2006 season and finished ninth overall in the 2007 Constructors’ Championship. In addition to its two drivers, Anthony Davidson and Takuma Sato, the Team employs more than 90 people at the site.

The joint administrators were appointed by the company following its announcement that the team had withdrawn from the 2008 FIA Formula 1 World Championship and was ceasing racing activities with immediate effect.

In a statement, joint administrator Philip Long said: ”This Administration provides a unique opportunity to get into high-level motor sport without having to build an operation from scratch. In terms of capability a new team could easily be up and running for the 2009 Formula 1 season.

“Virtually everything is in place including the people, the technical expertise, the laboratories and testing facilities. A new team could walk in and take over a fully operational unit from day one. There are a number of other motor sport projects being undertaken which should interest the motor racing world.

“I am pleased that there has already been significant interest.”