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Branson eyes F1 involvement
Virgin boss Sir Richard Branson has revealed that he could become involved in Formula One motor racing following reports linking the British businessman with the Honda team, which announced its withdrawal from the sport in January.
Speaking to the BBC, Branson admitted that, provided it met financial and environment conditions, he may look to back a Formula One team – but refused to confirm that he was looking at a takeover of the Honda team. Branson told BBC Radio 5 Live: "They need to get the rules changed to make F1 economically viable in these tough times. F1 should also be championing cleaner technology. If we were to get involved, we'd want our cars to run on clean fuels."
Honda revealed that it was pulling out of the sport due to the downturn in the global automotive market, while the Renault F1 team has recently revealed that Dutch banking company, ING, will no longer be its main sponsor.
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