Honda's F1 future back in doubt as Slim not in it

MEXICO CITY: Mexican billionaire Carlos Slim has not bought the Honda F1 team and is not even in negotiations for the Japanese outfit, a source at the businessman's industrial and financial empire said on Sunday.

"There is no deal for the Honda team. There is neither agreement nor negotiations," the source told AFP on condition of anonymity.

Honda, with an annual racing budget of around $400 million, pulled out of the F1 world championship earlier this month and was put up for sale with the Japanese manufacturer struggling in the current global economic slowdown.