Branson Reveals Only 3-Year Deal with Manor

Sir Richard Branson revealed that he is enthusiastic about creating his own team in Formula One, despite the fact that his outfit will most certainly not enjoy the same success as Brawn GP, his former partner in the series.

“We're not expecting the same sort of good fortune that we had last year. We fully accept that we're going to have to build the team over the coming years. But it's going to be exciting to try and do that,” Branson was quoted as saying by planetf1.com.

Nevertheless, Branson made it very clear that his investment in the series will not last for too long, as the Manor chiefs will have to bring in some sponsors of their own after the first few years in F1. The current budget of the British outfit is approximately £40 million, all of if being secured by Virgin Group.

“It's a three season deal. They've got to attract enough sponsorship money to keep it going year after year, but I think because they're working within the £40 million budget, the chances are that they should be able to do that,” added the Virgin boss, who further revealed that he'll take an active role in the promotion of the team on a “global basis”, while also planning to have some fun in the process.

Another interesting piece of information provided by Branson regarding his team's 2010 operations is linked with leading race driver Timo Glock. According to the Virgin boss, the German racer turned down a lot of money in order to join the British team a few weeks ago.

“To get Timo Glock, who actually turned down quite a lot of money and turned down tried and tested cars, that was a tremendous endorsement,” said Branson.