The financial crisis around the world has been touted in the news. Of course, many feel we are only really starting to see the actual effect on the ground. With the announcement that Honda will close its Formula One team, the auto industry is starting to show the effects.
Technically, Honda is going to try to sell its Formula One operation before closing it. Given the current economic environment, it seems highly unlikely that a private investor can be found to keep the team afloat. The powers that be at Honda seem to realize this, particularly since they have given only a 30 day window for the sale to occur.
Assuming the closure occurs, it raises questions throughout the motorsports …