Following the announcement of a staff meeting at Brackley on Friday morning, there was speculation that Honda might be on the verge of announcing a buyer for its team, thereby giving staff a genuine reason to celebrate this Christmas.

However, the meeting was merely a "pep talk" as team bosses sought to assure staff that every effort is being made to find a serious bidder.

Nick Fry has since said that there are "several" serious offers being considered, however, according to Pitpass sources there are two, with one of these thought to be that of David Richards.

Speaking to the Mail on Sunday today, Richards has confirmed that he is interested in bidding for the team and consequently has been in the Middle East this week in an attempt to drum up financial support.

"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," said Richards, clearly referring to Kuwaiti investors, The Investment Dar Company, who own a 40 percent stake in Prodrive. "But we have to agree when the timing is right."

The timing clearly wasn't right earlier this year, when, having won the bid to run the twelfth team, his efforts to enter F1 with Prodrive were scuppered when rival teams vetoed the customer car deal which would have seen the British company running a McLaren-Mercedes package.

"When you sit down in the cold light of day and realise 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," admitted Richards. "'You will have to bridge a big gap in finance, probably for three years, before balancing the accounts."

While a Richards bid for Honda would be welcomed by the staff at Brackley and the team's supporters throughout the world, it would surely be bad news for Fry who took over from his former boss in what was widely seen as a coup in late 2004 following Honda's purchase of 45 percent of British American Racing.

Richards, who was at BAR for three years, having previously spent a year as boss of the Benetton F1 team, has made no secret of his desire to return to the so-called pinnacle of motorsport, hence his bid for the twelfth team slot.

However, he is realistic about the costs involved, especially in these extremely difficult times.

"Sentiment and perception about the relevance of motorsport has changed in six weeks with the dramatic economic downturn," he said. "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."