expected to compete at the first race of the 2008 season in Australia. However, Magma pulled out of their proposed takeover, leaving Super Aguri's future in doubt again. The Super Aguri F1 Team travelled to Barcelona and competed in the 2008 Spanish Grand Prix, allegedly aided by financial support from Bernie Ecclestone. On arrival at the Istanbul Park for the 2008 Turkish Grand Prix, Super Aguri's trucks and motorhomes were denied entry to the circuit, because Honda Racing CEO Nick Fry reportedly told the race organizers that Super Aguri would not be taking part. On 6 May 2008, team founder and principal Aguri Suzuki announced that they were to withdraw from the 2008 FIA Formula One World Championship with immediate effect due to financial problems, citing the breach of contract by the promised partner SS United Group Oil & Gas Company resulting in the loss of financial backing as putting the team into financial difficulties. It was confirmed on 7 May that Super Aguri had gone into administration, after a team of corporate recovery partners was appointed to seek a buyer for the operation. In spite of the fact that it is mentioned the Magma Group pulled out, it was down to Nick Fry not accepting the 3-year debt payment plan Magma Group proposed. Fry wanted the whole payment at once or he would not allow the team to compete. The team's assets were bought by German businessman Franz Hilmer (Formtech GmbH), who applied unsuccessfully to enter the 2010 FIA Formula One World Championship using the Brabham name. The intellectual property of the team is still owned by Formtech Composites, which is situated at the factory in Leafield, United Kingdom. Complete Formula One results (key) References External links Super Aguri profile page at Formula1.com An archived version of Super Aguri's profile page at Formula 1.com Formula One constructors Formula One entrants Japanese auto racing teams Japanese racecar constructors Companies established in 2006