F1

Manufacturers' decline and return of the privateers

In 2008 and 2009, Honda, BMW, and Toyota all withdrew from Formula One racing within a year, blaming the economic recession. This resulted in the end of manufacturer dominance of the sport. The Honda F1 team went through a management buyout to become Brawn GP, with Ross Brawn and Nick Fry owning and running the majority of the organisation. Brawn GP laid off hundreds of employees, but won the year's world championships. BMW F1 was bought out by the founder of the team, Peter Sauber. The Lotus F1 Team was another, formerly manufacturer-owned team that reverted to "privateer" ownership, together with the buy-out of the Renault team by Genii Capital investors. A link with its previous owners, however, still survived, with its car continuing to be powered by a Renault engine until 2018, except for 2015, when Lotus used Mercedes engines.