Former chief rejects Honda rescue mission

EFFORTS to save Honda's Formula One outfit have suffered a major blow with former team principal Dave Richards ruling himself out of a takeover.

Richards, who led BAR Honda to second place in the 2004 constructors' world championship after bringing Jenson Button to the team, had been considered a front runner to keep the cars on the track following Honda's shock decision to quit the sport.

But Richards, chairman of the Prodrive motor sport company, said: "I feel the current environment is too unsettled."

Honda boss Nick Fry claims 12 offers for the team are being considered, one of which is thought to be a management buy-out led by himself with another tabled by Greek shipping tycoon Achilleas Kallakis.