Formula 1 team, Super Aguri, have announced their immediate withdrawl from the 2008 championship
6 May 2008

Super Aguri today announced its withdrawal from the Formula One world championship with immediate effect, leaving British F1 hopeful Anthony Davidson and Takuma Sato without a drive for the rest of the season.Super Aguri team officials were apparently denied access to Istanbul Park ahead of this weekend’s Turkish Grand Prix. Reports suggested the Japanese team, which has always been closely affiliated with Honda, was fighting for survival. It had debts of around £50 million.A takeover bid by the Magma Group collapsed and financing from German automotive company Weigl Group was not enough to keep Super Aguri racing. After the Spanish GP, Honda stated that it could give Super Aguri the money to race and get home, but that the association would go no further.Aguri Suzuki, Super Aguri team principal, confirmed the withdrawal. “I have participated in the championship for two years and four months as the Super Aguri F1 team,” he said. “But regretfully I must inform you that the team will be ceasing its racing activities as of today.”He added, “The breach of contract by the promised partner SS United Group Company Limited resulted in the loss of financial backing and immediately put the team into financial difficulties. Also, the change in direction of the environment surrounding the team, in terms of the use of customer chassis, has affected our ability to find partners.”

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