Super Aguri confirmed today that it has entered into a partnership with Magma Group. The deal is expected to be completed over the next few weeks, but team boss Aguri Suzuki would not be drawn on the details other than to confirm that Honda will still be involved in the project going forwards.

"We are in the middle of talks on different subjects, including an equity share," he said.

UK based Magma Group is an automotive investment enterprise, headed by former Maserati and Ford man Martin Leach.

SUPER AGURI F1 TEAM is pleased to announce that in the light of recent media speculation, we have reached agreement with Magma Group regarding the acquisition of the Super Aguri F1 Team. Magma has also reached agreement with Honda Motor Co., Ltd regarding technical cooperation and engine supply to Super Aguri F1 Team. It is expected that the acquisition process will be completed over the next few weeks. We will not be making any further comment or announcement until that time.

We are looking forward to a positive future for the team in conjunction with Honda Motor Company and Magma.

Additionally, SUPER AGURI F1 TEAM is delighted to confirm Takuma Sato and Anthony Davidson as racing team mates once again and for the 2008 Formula One season.

Aguri Suzuki, Team Principal

"I am pleased to announce our new partner and drivers finally at this late stage.

I am looking forward to a successful and long lasting collaboration with Magma Group.

About Drivers, as I have wanted them to continue their work in our team, I was not worried at all about our drivers for 2008. It will be a big advantage for us that we can continue working with them this year. For Anthony, as this season will be his second as a racing driver, I am expecting him to achieve some points. For Takuma, I would like him to repeat the excellent work he did last season. It will be an interesting season and we will try our best to help them achieve these goals."

Takuma Sato

"I am excited about 2008 and happy to be able to carry the momentum gathered during the past two years into a third season with SUPER AGURI F1 TEAM. Our winter preparation has not been as comprehensive as we had wished; however we always get over these difficulties and keep pushing forward with our fighting spirit. I hope that we can maintain this through the coming season and make up for some lost time. I am looking forward to the coming season - the new rules with no traction control will make race interesting and should be very exciting. I have been training hard all winter and have completed the best preparation I can. As a team we hope that we can have a good race in Melbourne and the rest of the year."

Anthony Davidson

"I'm really looking forward to my second season with the SUPER AGURI F1 TEAM and to building on what we achieved last year. The testing we have been able to do has gone well and we are continuing to make improvements to the car in conjunction with the new MES system. I've concentrated on my training and preparation over the winter and I'm fully motivated for the challenges that this year will bring. Everyone in the team has been working hard and I'd like to thank them, and Honda, for the continued support."