Dubai backing powers Super Aguri takeover

Thu, 13 March 2008, 03:54

The Dubai government is behind the takeover of the struggling Super Aguri team by the London based Magma Group, it has emerged.

Financially embattled Super Aguri, run by Aguri Suzuki and with links to the Japanese carmaker Honda, announced on Monday that it will shortly be acquired by Magma, which is headed by former Maserati and Ford man Martin Leach.

But according to rumours on the verge of the Australian grand prix in Melbourne, the team will, within two weeks, also divulge that the actual financing of the team will originate from a Dubai based international investment company that is owned by the emirates’ government.

The Dubai backing will be the basis for Super Aguri’s conversion from a Honda customer team to a fully fledged independent constructor, as required by the current Concorde Agreement.

The Leafield based team said it will not be commenting on the acquisition until it is completed.

“We will not be making any further comment or announcement until that time,” a spokeswoman said.

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