The former owner of Minardi, Paul Stoddart, has revealed mixed feelings about the long-term prospects of Formula One. He was speaking publicly after the forced withdrawal of Honda as a result of the global financial crisis and, unfortunately for the world of motorsport, he believes that others may soon follow in the company’s footsteps.

Stoddart revealed that he had a “feeling there is one more to come”. and if this is the case, there will be “eight teams lining up in Melbourne”.

Stoddart acknowledged the difficulties caused by the credit crunch, especially since Formula One is an exceptionally expensive sport to compete in.

Trying to raise the funds to take part in the event can put a lot of pressure on individuals and Stoddart spoke of his sympathy for the employees at Honda who are now facing the real threat of becoming redundant over the Christmas period.

He described such a situation as entirely “regrettable”, since the people working at the Honda base in Brackley are a “fantastic bunch”.

You could be forgiven for thinking that Stoddart was all doom and gloom whilst speaking about the future of Formula One. However, this was not the case.

Stoddart remains confident that the sport will survive the financial crisis and come back better than ever before. In the past, Formula One, which in his opinion is the “greatest motor sport in the world”, has “been able to self-govern itself” and this is why Stoddart believes it will survive for many years to come.