Honda has reportedly found a buyer for its F1 team in the form of Mexican billionaire, and the world's second richest man, Carlos Slim Helu. Earlier this month, Honda announced its withdrawal from F1 following the effects of the current global economic crisis and the need to drastically reduce costs, as well as the poor results that its team attained throughout the 2007 and 2008 seasons.

With the team now allegedly in Helu's hands, speculation is rife that the results table may once again bear the name 'Senna' with Ayrton's nephew Bruno tipped to be a top contender for one of the driving spots. Senna is expected to replace Rubens Barichello, and will likely join Jenson Button as the two drivers for Helu's team, reports Italian newspaper La Stampa.

Helu apparently paid the nominal fee of just $1 dollar for the team as Honda was keen to make the deal as attractive as possible to ensure its survival. Honda is expected to continue assisting the team in both financial and technical capacities, while Helu is expected to have a three year commitment to running it.

The news follows earlier reports that French manufacturer PSA Peugeot Citroen was interested in the team, especially in light of impending plans to reduce the costs of F1 racing to encourage more competition and provide for more exciting races. However, with Helu reportedly at the helm, Citroen will likely stick with its rallying efforts, for which it holds the current constructors’ and drivers’ championships.