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Last Updated: Monday, 10 March 2008, 09:52 GMT
New backer seals Aguri's F1 berth
Anthony Davidson and Takuma Sato
Davidson and Sato have spent just three days in testing this winter
Japanese Formula One outfit Super Aguri have ended fears that they will miss the new season after securing financial backing from Britain's Magma Group.

The first all-Japanese team on the circuit, Super Aguri have had to skip most of their winter training because of the financial crisis.

But the Honda-backed team are sure to race in the season-opener in Australia.

It means there will be a fourth Briton in F1, with Anthony Davidson retaining his seat alongside Japan's Takuma Sato.

"After talks with various sponsors, we're reached agreement with Magma Group," said team boss Augri Suzuki.

"We have discussed many deals and come to understand that this would be the most appropriate one for our team."

Suzuki declined to elaborate on the arrangement, but said automotive industry consultancy and innovation group Magma "will not be a sponsor".

Andrew Benson - BBC Sport

There are reports that Magma will take over the team in the course of the next few weeks.

"We are in the middle of talks on different subjects, including an equity share. We are about to put the finishing touches on the deal and I am not in a position to go into details."

Takuma Sato of Japan and Britain's Anthony Davidson, Aguri's race drivers, last month tested a hybrid version of their 2007 car with several technical improvements.

Davidson said: "We've only done three days in total testing this season. So we are very much on the back foot.

But he added that, while the team might struggle early in the season, "we had a very long winter to prepare mentally for this so we are very much up for the challenge".

F1 2008 - The British contenders
07 Mar 08 |  Formula One
Aguri allay fears over new season
29 Feb 08 |  Formula One
Super Aguri cancel Spain testing
18 Feb 08 |  Formula One
Super Aguri delay new car launch
12 Feb 08 |  Formula One
Super Aguri seeking new investors
09 Feb 08 |  Formula One
Super Aguri handed F1 green light
26 Jan 06 |  Formula One


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