Brawn GP to Partner Virgin Group in 2009

Sir Richard Branson's Virgin Group might not have entered Formula One as a new entry team, but they sure plan on making an entrance into the Great Circle in 2009. And what better way to do it than join forces with the very team Branson was rumored to purchase a few months ago?

After Ross Brawn completed the management buyout in early March, the newly-named Brawn GP went searching for new investors to secure their racing operations for 2009. Only weeks before, Branson had insisted he will not get involved in Formula 1 unless certain faults will be rectified in the near future.

However, as announced by The Times newspaper, the Virgin Group boss now seems ready to provide financial backing for an F1 outfit. Although his company will not become title sponsors of the Brawn GP – as the Brackley based team has already signed a sponsorship agreement with British clothing manufacturer Henri Lloyd – it is believed that its logo will be predominant on the BGP 001, therefore enforcing a major rebranding operation.

According to the aforementioned source, F1 supremo Bernie Ecclestone allegedly confirmed the discussions between Branson and Brawn, insisting that only minor details are to be put in place before the official announcement of the new multi-million pound deal.

Richard Branson is allegedly on his way to Australia, as he is believed to announce the new agreement as early as tomorrow.

However, the discussions between the two companies did not prevent the lay off of 275 employees at the Brackley headquarters earlier this week. Although the team's financial future seems to stabilize, the British media has unveiled that more than 1/3 of the working force at Brackley has been shed in an effort to reduce costs ahead of the new season.