From the Guardian: Honda axes formula one motor racing team
In a sign of progress:
"Honda has come under mounting pressure from some shareholders to ditch its formula one team, which finished next to last in the constructors' standings last season and costs the firm an estimated $500m (£340.5m) a year."
It amazes me they spend that much on race cars, that is a significant fraction of their annual income. Maybe motor racing sports are on a downward slide.