SOLD! Honda’s F1 Outfit Snapped Up By Former Team Principal

After earlier reports of a sale proved to be untrue, rumours circulated that Honda's Formula One team was being eyed off by David Richards of Prodrive, Greek shipping tycoon Achilleas Kallakis and Force India boss Vijay Mallya.

However, Honda has officially announced that it's F1 team has finally been sold, and the buyer is... none of the above.

Ross Brawn is the man who has bought Honda's racing outfit, and as the former Team Principal of Honda F1, he seems like the perfect guy for the job. With a wealth of motorsport experience from not only his time at Honda F1, but also during stints at Ferrari's and Benneton's F1 teams, Brawn clearly has the technical know-how to field a competitve car.

He's not a man who likes to waste time either, and is reportedly in the midst of preparing his newly-acquired team (now called Brawn GP) for the 2009 F1 season opener at Albert Park in Melbourne on March 29.

Jenson Button and Rubens Barrichelo will continue driving for the ex-Honda team, with Brawn bullish about their future with Brawn GP:

"I am delighted that Jenson Button and Rubens Barrichello will form our race driver line-up for the 2009 season," he said.

"The vast experience and knowledge that both drivers bring to our team will prove invaluable as we aim to get up to speed in the shortest possible time to be ready for the first race of the season in Melbourne on 29 March. In what will be their fourth season together, their experience with our team in Brackley, our systems and our engineers, will prove a real asset."

Mercedes-Benz FO108W 2.4 litre V8 engines will be supplied to Brawn GP by Mercedes-Benz High Performance Engines, and will be installed into a modified Honda RA109 chassis.

Testing of the cars will commence in Barcelona from March 9-12 and continue in Jerez a few days later before the Brawn GP team heads Downunder for the opening round at Albert Park.