Branson admits interest in F1 bid

Sir Richard Branson has admitted interest in bringing the Virgin brand to formula one, but suggested he will only buy the Honda team if some of the sport's "faults" are mended.

By the BBC's Radio Four, the British billionaire was asked about reports that his company is poised to rescue the Brackley based team whose future was thrown into doubt by the withdrawal of owner carmaker Honda Motor Co.

He did not actually confirm the link, but seemed to list conditions that would clear the path for Virgin to enter the sport.

"We'd need to be sure that Bernie Ecclestone is running it, that the teams can make ends meet and we'd need to be sure that he's on a path to turn formula one in to a sport that is championing green technology," said Branson, who according to Forbes is the world's 236th richest person.

He welcomed Ecclestone's comments earlier this week that Branson is "exactly the type of person" F1 is seeking.

"I'm delighted he said it and it would be great fun," Branson said, "and subject to those two provisos maybe something might be able to get sorted out."