Property magnate in serious Honda F1 bid.

Whilst David Richards' independent Prodrive operation appears to have dropped out of the running and rumours surrounding TELMEX telecommunications tycoon Carlos Slim proved to be entirely unfounded, Crash.net understands that there is another bidder who is extremely serious about the purchase of Honda's defunct Formula 1 team.

The name of Achilleas Kallakis has been tentatively linked with the beleaguered Brackley-based concern on a number of occasions over the past few weeks, but he has never been seen as one of the most serious bidders. Now, however, Crash.net has heard information that suggests Kallakis is deadly serious about acquiring the outfit.

Kallakis boasts a significant property portfolio through his ownership of what is said to be one of the largest private property companies in the UK.

Though he has no prior motorsport experience per se, Kallakis was one of the bidders for Scuderia Toro Rosso when it was officially put up for sale just after the start of the 2008 campaign. Whilst that bid was ultimately unsuccessful, it did enable the 40-year-old to put together a well thought-out business plan and sponsorship package comprising financial backing from two sponsors who have never been involved in the sport before - but who are ready and able to invest as much as ?30 million in the first year alone - as well as from his own drinks company.

Kallakis is understood to be keen on F1 for commercial reasons, seeing it as a vehicle by which to promote his various business interests, and as such he is said to be willing to bolster Honda's workforce to bring it up to the level of the top flight's leading teams.

Historically successful in everything he has done, it is contended that the professional poker player would not be entering the sport merely to make up the numbers and is fully aware of the costs involved in such a venture - the very stumbling block that has seemingly put Richards out of the Honda equation.