THE ASSOCIATED PRESS
TOKYO — Super Aguri’s brief stint in Formula One ended Tuesday when the Japanese team withdrew from the F1 World Championship due to financial difficulties.
"I have participated in the championship for two years and four months," team president Aguri Suzuki told a news conference. "I regretfully must inform you that the team will be ceasing its racing activities as of today,"
Super Aguri, which has struggled since its debut in 2006, held talks with its backer Honda on Friday in Tokyo to discuss the team’s future, but was unable to find a solution to its problems.
The team was denied access to the Turkish Grand Prix circuit ahead of this weekend’s F1 round at Istanbul amid reports Honda does not want the team to be a drain on its own racing unit.
The future of the Japanese team has been in doubt since a potential buy-out by British auto company Magma Group fell through last month.
The team has reportedly also been in talks on a buyout with German automotive firm Weigl Group.
"I knew after we weren’t able to reach a deal with Magma that it would be difficult to go on," said Suzuki, a former F1 driver.
Suzuki said "a breach of contract" by promised partner SS United Oil & Gas Co. resulted in the loss of financial backing and put the team into financial difficulties.
Super Aguri signed a sponsorship deal with the oil and gas company before the start of the 2007 season.
The team, founded by Suzuki in 2005, scored four points from 41 Grand Prix races. With an annual budget of around US$77.5 million as well as receiving engines and technical support from Honda, it finished ninth out of 10 teams in the 2007 constructors’ championship.
Super Aguri did not score a point in four races this season, with drivers Takuma Sato of Japan and Britain’s Anthony Davidson both failing to finish in the opening race in Australia. Its best result was Sato’s 13th place in Barcelona, where Davidson retired.
"There were a lot of fond memories over the years," Suzuki said. "But the thing I am most proud of is that we always fought hard and did our best despite the fact that we were a very small team."
Suzuki said he informed Davidson and Sato of his decision by phone and the two were extremely disappointed.
Suzuki became the first Asian driver to win an F1 podium place when he finished third at the 1990 Japanese Grand Prix. He drove F1 from 1988 to 1995.
Super Aguri initially had all-Japanese constructors, engine and tire suppliers, as well as Japanese drivers in Sato and Yuki Ide.
Suzuki said he would like to get back into motor sports if the conditions permitted.
"If I could just focus on racing I would think about it," Suzuki said. "The racing part I enjoyed, but lately all the discussions were about money and that’s not for me."