Virgin not dropping out of F1 – Branson

Sir Richard Branson on Saturday insisted Virgin Racing is not in danger of dropping out of formula one.

After Bernie Ecclestone hinted that one of the new teams is in trouble, HRT’s Jose Ramon Carabante as well as boss Colin Kolles insisted the F1 chief executive was not talking about the Spanish outfit.

“I’m surprised Bernie said what he did,” billionaire Branson said in Monaco.  “He might know something about the other teams I don’t.”

The Briton told the Daily Mail that Virgin has sponsors on board and will definitely “go all the way to the end of the season, and hopefully for many seasons yet”.

Branson, however, is only the naming sponsor of the rebranded Manor team, and Virgin has struggled both for pace and reliability so far in 2010.

But he insisted: “If they (the team) continue the kind of progress we’ve made to date, we will be delighted and will continue to support it, and there’s no reason why we shouldn’t.

“We went into this with our eyes open and we plan to stick with it as long as they get other sponsors on board, which they are managing to do,” added Branson.

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