Virgin boss Sir Richard Branson has said Formula One needs to become more environmentally friendly for him to be involved.
Virgin boss wants a more environmentally friendly approach
As speculation persists about his possible purchase of Honda's F1 team, Virgin boss Sir Richard Branson has said the sport needs to become more environmentally friendly for him to be involved.
The Japanese manufacturer confirmed earlier in the week it was in talks with Branson's Virgin Group about a possible takeover of the Brackley-based outfit.
And the sport's commericial rights controller, Bernie Ecclestone, subsequently said that the tycoon "would love" to take on the team.
However, speaking on Saturday, Branson suggested that F1 needs to make further steps in a 'greener' direction before he would consider taking to the track.
He added that efforts to cut costs, which have intensified since Honda put its team on the market, would also need to continue.
"I love Formula One. I think that there are faults there that would need to be rectified before we moved into Formula One," he said.
"We would need to be sure that Bernie Ecclestone is running it so that the teams can make ends meet and we would need to be sure that he is on a path to try to turn Formula One a sport that is championing green technology.
"It would be great fun and subject to those two provisos maybe something might be able to get sorted out.
"With the Virgin brand expanding on a global basis, it is certainly something that is attractive."
Immediate withdrawal
Honda stunned the world of motor sport in early December when they announced their immediate withdrawal from Formula One due to the effects of the global economic crisis.
It had been hoped a new owner would soon be found to allow Honda, in whatever new guise, to be on the grid for the season-opening race in Australia in five weeks' time.
A management buy-out, led by current CEO Nick Fry and team boss Ross Brawn, has been mooted for some time.
It is believed that such a buy-out, together with Virgin's interest, are now the only two proposals being given consideration by Honda - which has also admitted the team could yet be disbanded.
Following its announcement late last year, the FIA and the Formula One Teams' Association (FOTA) agreed cost-cutting measures starting this coming season.
Others are due to be enforced over time to ensure all teams are soon operating on a budget of €50 million (£45million).
The sport is also turning to bio-fuel to help try and reduce its carbon footprint, so steps are being made in the direction Branson wants.
He refused to be drawn about negotiations about a possible buyout, saying: "If we are in discussions then I wouldn't be allowed to say because there would be some kind of clause which would prohibit me talking about it."
And, with the season-opening Australian Grand Prix taking place on March 29, the question remains as to whether Branson and his advisors can be convinced in time.
Mercedes have said they are willing to step into the breach and provide the team with engines.
Nevertheless, it is thought a deadline set for the team to prove they have the finances in place to pay for the power-plants is looming.
