14/12/2004
NEWS STORY
The British American Racing team has been put up for sale.
However, before you add the Brackley-based outfit to your Christmas-wish list, or contact the ubiquitous Chinese, or Dubai-based, consortium, be aware that the 'sale' is only procedural.
An advertisement on the FT website, in the businesses for sale section, reads:
"The Joint Administrators of British American Racing (Holdings) Limited, Simon Morris and Andrew Hosking, offer for sale the entire issued share capital of British American Racing GP Limited.
Established, highly successful Formula One motor racing team.
Finished 2nd only to Ferrari in the F1 constructors championship in 2004.
Operates from a state of the art leasehold site at Brackley, Northamptonshire, England.
All interested parties should contact Sean Weaver of Grant Thornton UK LLP, Grant Thornton house, Melton Street, Euston Square, London NW1 2EP"
By 'selling' BAR, this allows owners British American Tobacco and Honda to set up its new joint venture. Last month, the Japanese manufacturer revealed that it is to purchase a 45% stake in the team.