Fangio’s Mercedes W196 sells for $29.6m at auction

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A Mercedes Formula One car driven by five-time world champion Juan Manuel Fangio has sold for over $29m at an auction in the UK today as part of a motorsport festival.

The Goodwood Festival of Speed regularly attracts huge crowds in the wake of the British Grand Prix as classic cars from Formula One and endurance racing are paraded and compete in the infamous hill-climb event. This year, as part of the annual auction, Fangio’s car was up for sale with the estimated price set at around $8m.

However, the car in which Fangio claimed the 1954 world championship eventually sold for three times that figure, with the lucky (and wealthy) buyer handing over £19.6m – around $29.6m.

It is the biggest amount paid for a classic racing car, dwarfing the $16m paid for a 1957 Ferrari 250 Testa Rossa two years ago.

The car was on show at Silverstone last month as Sir Stirling Moss (Fangio’s teammate) and current Mercedes driver Lewis Hamilton posed for pictures and compared their vehicles, leaving Hamilton in some shock when Moss explained that his car was not fitted with seatbelts.

F1: Red Bull Racing confirms switch to Honda engines next season

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Honda will become Red Bull’s engine supplier from next season after the Formula One team confirmed its anticipated split with Renault on Tuesday.

The Japanese manufacturer will supply engines for 2019 and 2020, and Red Bull team principal Christian Horner hailed the deal as “an exciting new phase” in the bid to return to the top of F1.

“After careful consideration and evaluation, we are certain this partnership with Honda is the right direction for the team,” Horner said in a team statement. “We have been impressed by Honda’s commitment to F1, by the rapid steps they have made in recent times with our (feeder) team Toro Rosso.”

It is a boost for Honda, which was unceremoniously dumped by McLaren at the end of last year.

Honda has started this season brightly as engine provider for Toro Rosso, and this may have been a key factor in Red Bull finally ditching Renault.

“Honda’s alignment with both Red Bull Formula One teams provides enormous potential,” Horner said. “Honda will have access to a wealth of data from both outfits, with Aston Martin Red Bull Racing leading the way, and the opportunities for faster, more effective and more competitive development are doubled.”

The deal brings to an end Red Bull’s 12-year partnership with Renault.

Although relations became increasingly strained between the two parties in recent years, it was once a dream partnership as Red Bull and Renault won four straight drivers’ and constructors’ championships with Sebastian Vettel behind the wheel from 2010-13.

During that glory era, Vettel and teammate Mark Webber won 47 grand prix. Since 2013, results have somewhat dried up and there have been only 10 race wins.

“We have sometimes had our differences but Renault has always worked tirelessly and to the best of its ability to provide us with a competitive power unit,” Horner said.

He was not always quite so complimentary about Renault. He has regularly and publicly criticized Renault’s reliability in recent years – although it has been hard to judge sometimes.

Red Bull showed good speed toward the end of last season when Max Verstappen won two races, and teammate Daniel Ricciardo won this season’s Chinese GP with a brilliant drive. The difference in speed between Red Bull and Mercedes appears less than before, although Ferrari remains noticeably quicker.

Verstappen’s form has picked up after a poor start to 2018, marred by crashes, and he has taken third place in two of the past three races.

Meanwhile, McLaren’s partnership with Renault has not been as successful as they anticipated after dropping Honda following three fruitless seasons together.

Two-time F1 champion Fernando Alonso has failed to finish the past two races and has yet to place higher than fifth. Renault teammate Nico Hulkenberg has a best finish of fourth place.