Richards Closer to F1 Switch

David Richards might make his F1 return as early as next season. The Prodrive boss, formerly involved in running Subaru's motorsport programme inside the World Rally Championship, admitted he is considering taking over Honda's F1 team following the Japanese manufacturer leaving the sport at the beginning of the month.

According to the Mail on Sunday newspaper, Richards is currently holding talks with a number of Middle East investors in order to secure the necessary financing for running an F1 team next year. However, the former Benetton and BAR managing director insisted that a decision on the matter will be made next year.

“There are a group of people in the Middle East who want to support a Formula One entry for me and have been very specific about it for a year now. But we have to agree when the timing is right,” admitted Richards on Sunday, according to the above-named source.

“When you sit down in the cold light of day and realize the liability you would be taking on, and the huge restructuring of staff and resources that will be needed, investors will have to think long and hard before taking a punt. You will have to bridge a big gap in finance, probably for three years, before balancing the accounts.”

However, Richards insisted that he is yet to decide whether his involvement in Formula 1 should happen now or wait until things will cool off.

“Sentiment and perception about the relevance of motorsport has changed in six weeks with the dramatic economic downturn. I have not ruled out getting back into Formula One, it's something I am very interested to do. But the big question remains: Is it too big a challenge at this moment in time? That's what I need to determine,” concluded Richards.
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