Honda, The Power of Dreams , had their F1 dream shattered by global recession and had quit from F1 racing and asked them to find another supported and now who other then Mexican Billionaire and the second richest man in the world , Carlos Slim is the proud owner of ailing Honda F1 Racing Team and he paid only a buck to get it .
The deal is not as cheap as it sounds as Carlos now have to maintain and run the team for next Three years with an annual racing budget around 400 million dollars so it’s 1.2 billion and one dollar for the ownership . However Honda will assist in Finances and Technical Support
Two other parties were interested in the deal India’s Force India F1 owner Vijay Mallya ( he wanted it for technical reasons aka Reverse Engineering ) and Dave Richards of ProDrive which Design, build and run motorsport and vehicle technology programmes for vehicle manufacturers.
Slim already have interests in the world of MotorSports through it’s subsidiary Embratel sponsoring no other then Ayrton Senna’s nephew Bruno who may replace Rubens Barrichello .