Honda pulled out of the Formula One World Championship earlier this month as the Japanese Manufacturer was hit by global economic recession. The team with an annual racing budget of around 400 million dollars was put for sale.
On Saturday, Dec 27 Italian newspaper La Stampa claimed that Slim, whom Forbes Magazine described as the world's second richest man, was planning to buy the Honda team. "The saviour has arrived at the last minute: Carlos Slim, 67 years old, the second richest man in the world," said the newspaper.
Honda first competed in F1 in 1964 and clocked up three Grand Prix wins, including Button's in Hungary in 2006. Its engines were also behind dozens of victories by stars such as Nelson Piquet, Ayrton Senna and Alain Prost. The team finished ninth in the constructors championship this season with 14 points.
Veteran driver Barrichello achieved the team's best result with a third-place finish at Silverstone. Honda Motor also supplied engines and other technical support to Formula One
team Super Aguri, which called it quits due to financial problems in May.
OneIndia News (With inputs from Agencies)