It appears as though the sale of Honda Motor Co.’s Formula One team was indeed a sign of things to come.

Earlier this week Bridgestone announced that it will not continue providing tires to the circuit beyond 2010. New corporate directives are decidedly more green and environmentally friendly.

And now, the rumors being volleyed back and forth in the garage have been confirmed; Toyota has has announced an immediate withdrawal from the Formula One global circuit. Toyota officials credit the move to company-wide cost reductions.

Toyota’s Formula One team was able to attain 13 podium worthy finishes, thanks to the crew of engineers and their drivers - Jarno Trulli, Timo Glock and Kamui Kobayashi. All of which seemed to be disillusioned at the rumors - as evidenced by the lack of motivation during the 2009 season.

So, all in all, the global recession has affected Formula One teams from BMW, Honda and now Toyota. That leaves three actual manufacturers in the game - Mercedes, Renault and Ferrari.

Is it really a stretch to think that this luxurious sport is in jeopardy? And if we agree that it is - can we also agree that we can attribute the adoption of stock car racing standards?

In my opinion, Formula One needs an overhaul from the top down (starting with “management”). Cost of entry is too prohibitive a barrier, while revenue sharing with the teams is laughable at best. If they want to be in a class by themselves, first they have to have class.

By the way - the BBC just reported that Renault is holding an emergency board meeting to discuss whether they should remain in the game. This indeed begs the question… Are the days of Formula One racing numbered?

by Paul McGregor