Franz Josef Weigl, who recently turned 50, is the Munich-based German businessman who hopes to rescue Super Aguri.

Lest weekend, he attended the Spanish GP as a guest of the troubled Japanese team, prompting rumours that his company, Weigl Group AG, could be on the verge of a buy-out.

Despite initial scepticism, it appears that negotiations are well and truly underway, and despite those that knock the proposed deal, he is convinced it would work.

Speaking to a Pitpass source, Weigl said: "It is a long time, 29 years ago, since I started the company, as a salesman. Now our group has developed in three important directions: metallurgical technology, drive train technology and aluminium sand casting. At the time, the group was manufacturing parts for the motorcycle industry and then expanded into the automobile business. Components from the Weigl group are now used by many car companies, including General Motors, Daimler, Volkswagen, Audi, BMW, Porsche, Volvo and Jaguar."

Asked how the F1 proposal came about, he replied: "It was a slow but unavoidable business process. Our clients are the main car manufacturers. We developed a number of high-level technology solutions on their behalf. Our technical solutions are trusted by most of the top teams.

"We were sharing technology solutions with the Midland F1 team," he revealed, "and supported them in bringing high level solutions and expertise to help MF1 with the design and construction of its gearbox.

As for Aguri Suzuki; "We met two years ago. I have always been impressed by the Super Aguri team. The team is a strong fighter and very competitive for the level of investment. For my company and my investors, with the help of Honda, Super Aguri must survive, live and become successful."

Bearing in mind the old adage about how to make a small fortune in F1 (start with a big one), our source asked Weigl why his company wishes to be associated with F1 racing. "There are four different key reasons," he replied. "The first is the number of contacts that the Weigl group already have business wise with the existing F1 teams through the manufacturers. As a company, we believe in enterprise and long-term investment and implementation of proper planning. Our prime mission and goal - with the help of Honda - is to bring Super Aguri to a superior technological level. Our company masters the technical know how to bring this about. I also strongly believe that to remain sound the F1 sport needs private teams and not only manufacturer's works teams. Finally, I am convinced that our group has the right technology package needed to help Super Aguri compete with the other private teams and to give the right tools to Honda to see it happen and even bring Super Aguri to a much higher competitive level."

But is the Weigl Group strong enough to offer a long-term deal? "Yes," he responds, "the group's offer is backed by strong business finance partners who along with the Weigl Group would like to invest long term and not just short term. With our partners, the offer is not only about rescuing the team, but about constructing a future for the Super Aguri F1 team and Takuma Sato. We hope that Honda board members would be willing to have faith in our long term business plan."

Referring to the Barcelona weekend, he admitted that it was; "very busy, with a number of valuable business meetings with the Super Aguri F1 team, Mr Ecclestone who confirmed to us that he wants the team to survive, with Honda General Manager Motor Sports Division to whom I communicated our official offer.

"Super Aguri have been fighting for survival since the first day of the weekend in Spain," he continued. "Takuma Sato, one of Japan's most popular heroes, finished the race in 13th position. And for the team, this was the best result of the 2008 season. They have really done their homework up to this point although they had not been able to test in good conditions since the start of the season.

"Takuma is a strong F1 driver," he added. "Sometimes he has a kamikaze style. I am surprised how popular he is in Japan - sort of a sporting idol. He has a difficult mission and he deals with it in a very subtle way. I have followed his exploits since he started his career.

In Japan, the "Golden Week" holiday has postponed the meeting of the Board originally planned at Honda, and delayed it to early next week. Will Honda accept the proposal from the German industrial? The answer will be known in a few days in Japan. Mr. Weigl is patient. He knows the world of F1. He has been actively involved in F1 since the end of 2005.

"The decision is now in Honda's hands," says Weigl. The issue, though, is not a foregone conclusion. Weigl's firm is not sure at the moment that the offer will be accepted at the Honda board meeting because it is understood that with the previous take over they wanted Magma to pay back the debt to Honda at once, while the difference with Weigl's offer is that the debt will be paid back over three years.