F1: Aguri Relies On “Just and Reasonable” Weigl Offer

Formula 1

F1: Aguri Relies On “Just and Reasonable” Weigl Offer

German automotive firm set to rescue troubled squad.

Adam Cooper | http://www.speedtv.com | Posted May 02, 2008 London, UK

Suzuki: nearing a reason to smile? (LAT Photo)

Super Aguri has confirmed that is hopes to secure its future with a deal with the German automotive engineering firm Weigl Group.

An earlier bid was not approved by Honda, but this time around it seems that Weigl might be able to proceed with what is in effect a last chance attempt to save the troubled team. It is also a one-off bargain basement opportunity for Weigl or anyone else to get involved as a team owner.

A statement issued on Friday by the team said: “Super Aguri and Weigl Group AG are in final discussions concerning an agreement for a substantial shareholding of the Formula 1 team. Super Aguri believes this to be a just and reasonable offer that would secure its racing future.”

Team boss Aguri Suzuki was quoted as saying: “We are happy that we have been able to resurrect talks between Super Aguri and Franz Weigl at such short notice and to have the opportunity of presenting the Weigl Group to the Honda Board once again. Such a partnership as the one proposed by Weigl Group will allow us to race for the foreseeable future and I am hopeful that all parties will find the Group’s offer a realistic package.”

“Weigl Group has decided to speak out openly at this decisive time for Super Aguri,” said company boss Franz-Josef Weigl. “We would like to express sincere support for the team’s participation in the Formula 1 World Championship and the Group’s, together with its sponsors and partners, earnest intention to provide ongoing investment to secure the team’s future.”

Best known for its transmission work, Weigl’s customers include Audi, BMW, GM (Opel), Mercedes, Porsche and Volkswagen – in essence most of the German auto industry. It remains to be seen how Honda views those ongoing relationships.

Interestingly the company sales figures in 2007 were around $200m, which is clearly not the sort of figure that suggests it could sustain the operation of an F1 team without sourcing substantial outside sponsorship, something that Aguri Suzuki was not able to do despite his fame in Japan, his Honda connections, and the presence of the popular Takuma Sato.

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Adam Cooper

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