Honda has bought a 40 per cent chunk of Formula One team BAR, numerous media outlets claimed on Wednesday. Brackley-based BAR, presently owned by British American Tobacco, agreed a deal - said to involve the handover of a non-controlling stake of the shareholding - to the Japanese carmaker.
It is also reported that David Richards will make way for a new Honda-appointed team principal -- Nick Fry. "There is nothing we can say at this stage," Fry was quoted as saying in a BBC article.
BAR shareholder and co-founder Adrian Reynard, though, denied that the subject of a sale to Honda was brought up at the last board meeting.
But he said he would be 'totally supportive' of the reported buy-out.