Honda to Own Stake in BAR-Honda F1 Team

TOKYO Nov 19, 2004; The AP reported that Honda Motor Co. will own a stake in BAR-Honda for the first time since the Japanese automaker rejoined Formula One racing in 2000.

The Tokyo-based company didn't say how much it would spend for the 45 percent stake in the team, which is based in Brackley, Britain.

But the investment marks a commitment to devote staff, technology and funding to the team, Honda said Friday.

British American Tobacco will own the remaining 55 percent.

In July, Honda renewed a contract to supply engines and jointly develop chassis technology through 2007.

BAR-Honda driver Jenson Button finished third in the F1 driver standings this season, behind Ferrari's Michael Schumacher and Rubens Barrichello. BAR-Honda was second in the constructors championship, behind Ferrari.