Super Aguri withdraw from Formula One

Updated 15.01 Tue May 06 2008

Keywords: takuma sato, aguri suzuki, anthony davidson, super aguri, formula one, sport, motor sport

British Formula One driver Anthony Davidson is looking for a new team as Super Aguri have withdrawn from the sport.

The Japanese team has finally collapsed after months of financial trouble.

"The team will be ceasing its racing activities as of today" - Aguri Suzuki

The team has been in financial turmoil since the oil and gas company SS United failed to deliver the money promised as part of a sponsorship deal at the end of last season.

Discussions with potential investors Magma Group and Dubai International Capital recently fell through and last-minute talks between Super Aguri's parent company Honda and Weigl Group also failed to save the team.

In a statement, team owner Aguri Suzuki said: "Regretfully, I must inform you that the team will be ceasing its racing activities as of today."

Super Aguri defeied the odds to take part in the Spanish Grand Prix in Barcelona last weekend, where Davidson was forced to retire after nine laps and his team-mate Takuma Sato finished 13th.