While there have certainly been offers for Honda’s Formula One racing team, the Japanese automaker has stated that it has not yet found a serious buyer among all the prospective candidates.

This revelation comes a few months after Honda announced it was selling its F1 team and is thus leaving F1, mainly because of the persisting economic problems that plague the world, most especially the automotive industry.

Honda CEO Takeo Fukui said that Honda execs “find the sale process difficult,” confirming that there have been some offers, but that Honda has yet to find one they want. From the grapevine, it is said that the Virgin Group had expressed interest and there was even talk of an internal buyout by management.

The search is starting to reach a critical point, as the 2009 Formula One season draws near. Should Honda not find a buyer, its personnel, including driver Jenson Button, would be left in limbo. What’s more, it will reduce the F1 ranks by two midfield competitors, and this will figure largely in the big picture of the sport and the competition.

Source: Formula 1 Site