BAT to sell remaining stake to Honda

**Stephen Green** · 4 Oct 2005, 07:03 (Ref:1423402)

In a press release this morning BAT have announced they are to sell their remaining 55% holding in BAR to Honda Motor Company giving Honda complete ownership of the team. The sale will not affect BAT's committment to sponsor the team until the end of 2006.

Kicking-back · 4 Oct 2005, 07:10 (Ref:1423404)

The team is to be known as Honda, rather than BAR - which means the Japanese Grand Prix will be a final outing for Jordan, BAR, Sauber and Minardi.

Mike_Wooshy · 4 Oct 2005, 07:18 (Ref:1423410)

where is that comfirmed K-B ??? Im not doubting it sounds quite logically ... but dont you mean Chinese GP will be the last outing

Kicking-back · 4 Oct 2005, 07:47 (Ref:1423430)

Quote:

Originally Posted by Mike_Wooshy

where is that comfirmed K-B ??? Im not doubting it sounds quite logically ... but dont you mean Chinese GP will be the last outing

Yes I do mean the Chinese Grand Prix.

A slip of the tongue, as it were.

BSchneiderFan · 4 Oct 2005, 07:22 (Ref:1423412)

It makes sense for Honda to do this, especially given that Toyota have run an in-house team.

Hazza · 4 Oct 2005, 07:29 (Ref:1423415)

Just aslong as it isn't the Honda Racing Team.

I wonder if they'll stick big HRC stickers all over it? Mmm...sexy...

Skam85 · 4 Oct 2005, 08:08 (Ref:1423439)

Or index finger, I would guess

Marbot · 4 Oct 2005, 08:17 (Ref:1423448)

Here's a link.

There may also be a link with the GPMA thingy.

BootsOntheSide · 4 Oct 2005, 11:53 (Ref:1423602)

A shame to lose another established team, as Formula 1 becomes ever more corporate, but it does increase the chances of the team winning next year.

Rennen · 4 Oct 2005, 11:59 (Ref:1423605)

It was on the cards for ages...just a shame for AD & TS not to be a direct part of it!...

Louis B. · 4 Oct 2005, 15:20 (Ref:1423738)

Quote:

Originally Posted by Rennen

It was on the cards for ages...just a shame for AD & TS not to be a direct part of it!...

I agree, BAT's shares are worthless now with all the accumulated indebtness owed by the team to Honda resulting from Honda's massive investments. By any chance, does anyone know if "Pollock" still have shares in BAR? (not that it really matters in that one may be forced to sell out when a certain majority level is reached in the shareholding).

QuickSilver · 4 Oct 2005, 16:04 (Ref:1423769)

Quote:

Originally Posted by Louis B.

I agree, BAT's shares are worthless now with all the accumulated indebtness owed by the team to Honda resulting from Honda's massive investments. By any chance, does anyone know if "Pollock" still have shares in BAR? (not that it really matters in that one may be forced to sell out when a certain majority level is reached in the shareholding).

Quote from court documents "Because of the statutory restrictions on tobacco advertising BAT has no interest in remaining a shareholder of the Company [BAR] in the long term. The Company is substantially insolvent and thus, in my view, BAT is entitled to proceed on the basis that its shares are valueless notwithstanding the recent affidavit of Mr Forsythe".

Louis B. · 4 Oct 2005, 16:15 (Ref:1423776)

Quote:

Originally Posted by QuickSilver

Quote from court documents "Because of the statutory restrictions on tobacco advertising BAT has no interest in remaining a shareholder of the Company [BAR] in the long term. The Company is substantially insolvent and thus, in my view, BAT is entitled to proceed on the basis that its shares are valueless notwithstanding the recent affidavit of Mr Forsythe".

Interesting. Which kind of document was that? A judgment, an affidavit? and when was that filed into Court? Can you also give me a bit more of the context in which such document was filed into Court? Was it in relation to the unpaid sponsoring commission matter? etc.

Dixie Flatline · 5 Oct 2005, 00:15 (Ref:1424076)

Quote:

Originally Posted by Louis B.

Interesting. Which kind of document was that? A judgment, an affidavit? and when was that filed into Court? Can you also give me a bit more of the context in which such document was filed into Court? Was it in relation to the unpaid sponsoring commission matter? etc.

I believe it's from a decision of an English court from 2004.

Here is the url to the case: http://www.bailii.org/ew/cases/EWHC/Ch/2004/2947.html

It's a rather dry matter concerning whether British American Racing (Holdings) Ltd should be placed into insolvency by the Court. BAT held 89% of the shares in BAR(H) and the remaining percentage was held by 3 minority shareholders, including 7% by Mount Eagle, who opposed the insolvency application.

In the end, BAT succeeded.

**Stephen Green** · 4 Oct 2005, 12:00 (Ref:1423608)

Rennen, if TS is moving to the 'new team' and if in fact it uses Honda power plants, would there be a seat for Ant do you think?

Halsey · 4 Oct 2005, 12:15 (Ref:1423622)

It'll be interesting to see whether or not this has a visible/large affect on how successful the team is. It certainly sounds like a good move on the part of Honda.

Oh, and what do you have against them calling themselves HRT, Hazza?

Hormone Replacement Therapy is such a perfect name for a formula one team

sonic · 4 Oct 2005, 12:17 (Ref:1423625)

there must be at least a chance for ant here

he must be in with at least as good a chance as wheldon. and if there is a shoot out when they get in the car and wheldon goes 1.5 seconds a lap slower he will be in with an even better chance i should imagine.

anyway, will not be of much interest to ant if it is simply another year of testing.

Dutton · 4 Oct 2005, 16:08 (Ref:1423771)

It has been blatantly obvious for years that this was going to happen.

Marbot · 4 Oct 2005, 19:35 (Ref:1423900)

I can't remember which engine they used in their first season ? You know,the one they were going to win.

Marbot · 4 Oct 2005, 19:40 (Ref:1423906)

Ah yes,what a worldbeater that was.

I'm sure FW still has nightmares about that one too.

QuickSilver · 4 Oct 2005, 17:25 (Ref:1423819)

Louis, I'll defer to you on legal matters ... unfortunately I couldn't tell the difference between a judgement and an affidavit if my life depended on it. I stumbled across the document trying to answer your question about whether Pollock still owns any BAR shares - got it by googling bar, mount eagle (pollock's company) and shares.

QuickSilver · 4 Oct 2005, 17:34 (Ref:1423823)

This Sunday will be BAR’s 100th race and I thought this thread was an appropriate place to look back at what they’ve accomplished.

1999: 0 pts
2000: 20 pts, 5th in the WCC, best finish 4th by JV 3 times
2001: 17 pts, 6th in the WCC, best finish 3rd by JV twice
2002: 7 pts, 8th in WCC, best finish 4th by JV
2003: 26 pts, 5th in WCC, best finish 4th by JB twice
2004: 119 pts, 3rd in WCC, best finish 2nd by JB 4 times
2005 (so far): 33 pts, 6th in the WCC, best finish 2nd by JB twice

Some ups and downs for sure, and the only glaring absence is their first win.

Louis B. · 4 Oct 2005, 18:00 (Ref:1423833)

Quote:

Originally Posted by QuickSilver

Some ups and downs for sure, and the only glaring absence is their first win.

Another glaring absence was a second fuel reserve tank on certain plans

**Adam43** · 4 Oct 2005, 19:05 (Ref:1423877)

Quote:

Originally Posted by QuickSilver

This Sunday will be BAR’s 100th race...

It isn't important, but it is their 116 race.

It should be Button's 100th start (he missed Monaco '03, but I am including Indy '05 just to make 100).

Kicking-back · 4 Oct 2005, 19:07 (Ref:1423878)

Indeed.

Sky News said earlier BAR's 100th start - I suspect there's some erroneous agency copy floating around.

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