Honda has described a story outlining its F1 budget plans as premature - because the matter has yet to be discussed in Japan.

"The company has not considered or decided on a budget for its Formula One project," claimed a Honda spokesman, "and, in any event, we will not disclose our budget for the project."

Autosport magazine reported that Honda had allocated ?125million a year to its return to F1 but, although the company admitted that preliminary discussions had taken place, such a figure had yet to be established.

The main stumbling block to the discussions could be the involvement of Mugen, which is a major shareholder in its parent company. It is suggested that Mugen wants increased funding for its own projects, claiming that it represents a greater chance of success - at a lesser budget than would be required for a full-scale works assault. The engine builder currently supplies the Jordan team, and recently scored a second place finish at the Australian GP.



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