LONDON - Richard Branson's Virgin Group has emerged as one of several potential buyers for Honda's defunct Formula One team.
Honda aims to secure a buyer ahead of the new F1 season, which gets underway on 29 March.
In a statement, Honda said: ‘We are negotiating with several buyers and one of these parties is the Virgin Group.' It is believed that the team is up for sale for the nominal sum of £1.
Any deal would be Branson's second foray into the sport; Virgin Mobile is a former sponsor of the Jordan Formula One team.
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