Mexican billionaire Carlos Slim, the world's second richest man, has rescued the Honda Formula One team, Italian newspaper La Stampa reported on Saturday.
"The saviour has arrived: Carlos Slim, 67 years old, the second richest man in the world," said the newspaper.
"The news is not official as all the details have yet to be formalised. But two things are certain - the team has been saved and the drivers will be Jenson Button and rookie Bruno Senna in place of Rubens Barrichello."
Honda first competed in F1 in 1964 and clocked up three Grand Prix wins, including Jenson Button's in Hungary in 2006.
Honda Motor also supplied engines and other technical support to Formula One team Super Aguri, which called it quits due to financial problems in May.
Motorsport in Japan had been particularly hit by the recession with Subaru and Suzuki pulling out of the world rally championship.
Q.... Thank god for good Corporate Cannabalism.^^
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