Super Aguri - Magma deal off!

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The Super Aguri Formula One Team has announced this afternoon that the reported deal between the team and the Magma Group is off. The deal had to help the struggling team out of their financial problems. As the team did not participate in the Barcelona test session this week, rumours about the deal being called-off started to fly around.

In a statement, Aguri Suzuki declared: "Super Aguri F1 Team confirms that it has been informed by Magma Group, the potential purchasers of the team, that its investors no longer wish to fund the intended acquisition.

"It is with deep regret that Aguri Suzuki is now forced to consider the future of the team, however negotiations with other parties continue."

It remains unclear if the team will come in action during the Spanish Grand Prix on 27 April at the Circuit de Catalunya.