Honda to stay for 2002 & 2003 at least

The F1 media circus have long speculated that Honda would, at some stage, make a decision to concentrate on one F1 team only to allow them to compete directly against their arch-rival and F1 newcomer, Toyota.
Jordan were felt to be favourites to retain the Japanese Giant’s power unit as they beat their rival in the 2001 Constructor’s Championship and have signed Honda backed driver Takuma Sato for the 2002 season.
The news that the BAR agreement has been extended to 2004 has put the Jordan/Honda relationship back into the spotlight.

In response to Tuesday’s announcement that Honda has extended its engine supply agreement with BAR until 2004, Jordan Grand Prix stated:
“Jordan Grand Prix has just completed the first year of a three-year contract with Honda. At a meeting of the two companies last Friday, both parties re-affirmed their commitment to this agreement. An option exists for the supply to be extended for 2004 and 2005 and this will be discussed at the appropriate time.”

Eddie Jordan said, ”Today’s announcement and our own contract confirms Honda’s total commitment to Formula 1 for the long term which is good for the sport and for both Jordan and BAR. Honda has an unrivalled record in Formula 1, and from 2002 will be putting even more resources into the programme.