//
Honda's racing team has withdrawn from the sport amid economic pressures and dissent from shareholders.
Running the team costs £200 a year, the Times reports, which is justified by management as they believe participation attracts the world's best engineers to the firm.
However, it is now looking to sell Honda Racing F1 and Honda Racing Development in light of the "quickly deteriorating operating environment", according to the company's president Takeo Fukui.
"Honda must protect its core business activities and secure the long term as widespread uncertainties in the economics around the globe continue to mount," he added.
The team was recently in attendance at the FT Sports Industry Summit, at which its chief executive Nick Fry addressed delegates on the need for sport to take a more active role in encouraging sustainability.
