Fry Honda bid to be investigated by DTI?

16/01/2009
NEWS STORY

The Daily Mail claims that the proposed management buy out of the Honda F1 team could be investigated by the Department of Trade and Industry.

According to the British newspaper Daventry MP Tim Boswell - whose constituency includes the team's Brackley HQ - has contacted the DTI following requests from team employees concerned for their future.

Last week it was reported that Fry is making his own bid, just 48-hours after the Englishman claimed to have whittled the potential buyers down from around thirty to twelve. When speaking of the dozen potential bidders however, he failed to mention the fact that he is considering leading a management buy-out.

In a series of articles, Pitpass not only questioned Fry's ability to lead the team, having presided over the Brackley outfit for the last few seasons as it slipped further and further down the grid, but also the conflict of interest arising as a potential bidder (Fry) was involved in the sale process thereby gaining privileged information on rival bidders.

Though Fry has yet to comment on the management buy-out publicly, an article that appeared on the Internet earlier this week had all the hallmarks of spin from the Brackley boss.

The Daily Mail quotes one factory insider as saying: "The level of anger and frustration at the factory is unbelievable. We wonder whether Nick is doing the right thing by wearing two hats. The DTI will be keen to make sure that Honda find the best, most competitive buyer."

In the days since Pitpass editor Chris Balfe wrote an article openly questioning Fry's bid the website has been contacted by countless employees at Brackley all expressing similar views.

Honda has set a deadline of January 31, after which time - if a buyer hasn't been found - the doors at Brackley will close for good.

Article from Pitpass (http://www.pitpass.com):

Published: 16/01/2009
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