Honda have officially become joint owners of the BAR Formula One racing team, after bringing their stake in the team up to 45%.
Honda and team owners British American Tobacco confirmed the agreement last month but complications over the role of minor shareholders delayed the deal.
Former team boss Craig Pollock was among three small holders whose permission was needed to complete the sale to Honda. refused to co-operate and BAT put BAR Holdings, the team's holding company, into administration to force his hand.
However, Honda have finally bought the remaining 10% from administrators confirming the move in a statement which read:" BAR Holdings Limited, the new 55/45 joint venture between BAT and Honda Motor Company, has completed the acquisition of the BAR F1 racing team from administrators Grant Thornton."
Honda have supplied engines to BAR since 2000 but are stepping up their involvement with the the F1 team and their buy-in has allowed construction to begin on a new £100million-plus wind tunnel.
