“As a result of this sale, the team ownership has transferred to Mr Brawn, who plans to have the new team compete for this year's FIA Formula One World Championship,” said the statement from Honda.
“We have conducted various studies and discussions so that the team can continue its activities as a new team. We are very pleased that we could sell the team to Ross Brawn with whom we have been partaking in the challenges of F1 competition, and are grateful for his decision,” added Hiroshi Oshima, the managing officer of Honda's motor sports, in a statement.
The new team will be called, as suggested by several media reports through the month of February and early March, Brawn GP Formula One Team and will benefit from full technical partnership with Mercedes Benz in terms of engine supply. Team's 2009 challenger will therefore be equipped with a 2.4 Mercedes-Benz High Performance unit through the duration of the upcoming season.
Also important, as confirmed by Brawn in the same statement, is the team's drivers lineup for 2009. Just as revealed by several sources within Brawn GP lately, the Englishman decided to extend Rubens Barrichello's deal for an additional year, as the Brazilian will start 2009 alongside Jenson Button.
“The vast experience and knowledge that both drivers bring to our team will prove invaluable as we aim to get up to speed in the shortest possible time to be ready for the first race of the season,” explained Brawn.
As for former team CEO Nick Fry, there was no mentioning of his future role with the new team. Stay put for daily updates on the subject.