Bernie Ecclestone won’t. What say you?

“Honda will be no great loss,” Wee Bernie Ecclestone reportedly told The Telegraph.

“Just look at where they finished in the Championship - ninth. They wasted millions and were a bad example to other teams.”

Way to get your Scouts’ Diplomacy badge, Bernie.

Do you agree with him? Honda were a spare wheel in 2008, but that’s partly because they spent the season thinking far more about how to be competitive in 2009 - and we have little doubt that they would have finished higher than ninth next year.

Will you miss them? Vote below or leave us a fantastic comment:

Will drive fast for cash

First things first: we hope Jens kept the receipt for his Honda jet, because he’ll probably want a refund.

Secondly, will the third-best paid driver on the grid - yes, Button is paid more than any driver with the exception of Kimi Raikkonen and Fernando Alonso - still be on the grid in 2009?

If Honda can find a buyer, Button could stay put. If not, his only real options are as follows:

1) Audition for a Toro Rosso seat. Toro Rosso team principal Franz Tost might invite Button to test in Jerez later this month. Even then, there is stiff competition for a seat, and Button would have to be prepared to take a substantial pay cut.

2) Sit out 2009 and return in 2010. Nico Rosberg looks set to leave Williams soon, so maybe Button could return to his former team. Meanwhile, Jenson could hone his triathlon skills.

3) Do a Nigel Mansell and head to the States.

Which of these options is his best bet? We’ll leave that answer to you…

The biggest bargain in F1 history has expensive strings attached

You can buy Honda for as little as £1. But there is a catch…

It’s a little ironic that anyone can buy Honda, but no one can afford to run it. Even a very rich backer - another major car manufacturer, say - would not want to sink £50m into running costs for next season, nor take on a company with some 700 highly skilled staff; not in the current economic climate. Of course, a new buyer could decide to slash its new workforce and run a skeleton operation.

Honda boss Nick Fry claims that he has been contacted by three “serious” buyers, but we remain scpetical.

Who are these mystery buyers?

Max Mosley outlines single engine supplier option for 2010 season

F1 teams have less than a week to decide whether or not to accept Max Mosley’s option to use Cosworth engines from 2010.

On behalf of the FIA, Herr von Spanky wrote a letter to all of the F1 team principals, advising them of his intention for all teams to use a Cosworth power train. The cost of the package is £1.68m up-front and then £5.49m per season over three years. The price is based on at least four teams taking up the offer.

Teams not wanting to use the standard engine (ie. the likes of Ferrari and McLaren) have “the right to build an engine themselves”, or use a de-tuned version of their current V8s - but they must use a standard transmission supplied by Ricardo Transmissions.

The teams have until December 11 to reply.

Read Max’s letter in full below:

Did the Spaniard know about Honda’s fate?

“I’m getting the words… economic downturn.”

Earlier this year, Fernando Alonso was offered a very fat contract by Honda, which would earn him almost £8m a year. But he turned them down, a decision that now looks remarkably prescient.

Or perhaps Nando has psychic powers?

Joking aside, Alonso must be a very relieved man today. Had he chosen to go with Honda, he might have been forced to take a year off from F1 (unless Ferrari could somehow manage to buy out Kimi Raikkonen’s contract in double-quick time).

Could Honda’s demise spell the end of Button’s F1 career?

“Bugger.”

One week ago, Jenson Button confidently predicted that Honda would return to form in 2009. It was a fair assessment too - the team spent most of this season developing its car for next season, under the genius guidance of Ross Brawn (speaking of Brawn, Ferrari may come knocking again). And frankly, they couldn’t have been much worse than they were in 2008.

But with the shock news that Honda is set to quit F1, Button finds himself up a stinky creek without a steering device (like a paddle, say).

Does Jens sit tight and hope that a buyer rescues Honda in the next few weeks? Or should he get on the phone to Toro Rosso - the only team yet to finalise its driver line-up for ‘09 - and beg for an eleventh-hour test (bear in mind that he’d have to take a substantial wage cut for that to happen)?

F1 rocked by global recession

“Byeeeeee!”

Holy KERS, Batman! Who saw this coming? Not us, or anyone else judging by the shocked reaction in the media. Max Mosley feared that something like this might happen, but most of us believed - naively, maybe - that F1 could continue to exist in its current state, albeit with a few cost cuts here and there.

Yesterday we told you that Honda had scrapped its annual media lunch. Who knew that the manufacturer had secretly decided to scrap rather more than a seven-course Christmas meal.

Honda’s Nick Fry claims three parties have already been in touch about buying out Honda, and there is every chance the team will run in some form next season, albeit on a greatly reduced budget - but hundreds of staff at Honda’s Brackley HQ will still lose their jobs. And if a giant like Honda can’t survive, you have to wonder if Toyota - Honda’s direct rival in F1 and in the production market - will also pull the plug, perhaps remaining in F1 only as an engine supplier.

So, dark days for F1. And with car sales plummeting around the world, the sport is more vulnerable than at any time in its history.

More on the F1 crisis throughout the day.

Read Honda’s full statement below:

Is that the sound of an economic downturn?

Honda’s F1 team has cancelled its annual post-season media lunch. Boo, hiss.

Around 40 guests were set to dine at Le Manoir aux Quat’Saisons, the Michelin-starred restaurant located in Oxfordshire, about half an hour from Honda’s Brackley HQ.

Honda chief executive Nick Fry is believed to be the Scrooge behind the decision. In an email of apology to all guests, Fry confirmed that “severe economic pressure” was to blame for the change of plans:

“Honda, like others, has been forced to put production on short-time. In light of this we do not think it would be appropriate to continue with our lunch.”

If we had been invited (hint for next year, Mr Honda), we would be hugely disappointed by this news. But we weren’t, so boo-sucks to all of you, with a dollop of schadenfreude on top.

[F1 Fanatic]