Tokyo - Honda Motor Co sold its Formula One racing team to its former manager Ross Brawn, Japan's second largest carmaker announced Friday in Tokyo.
Honda pulled out of F1 in December, citing the global economic crisis, since then the Brackley, England-based Honda Racing F1 Team (HRF1) team fought for its survival.
"The entire shares of the HRF1, held by Honda GP Holdings Ltd, the UK-based holding company for HRF1 that managed all operations of Honda's Formula One racing, were sold to Ross Brawn," a company statement said.
