According to reports in the Times, the rumours of a Honda management buyout headed up by Ross Brawn have come to fruition with the team now guaranteed to take to the Albert Park grid next month headed up by none other than British driver Jenson Button.

The Times are said to have confirmation from a source close to the team that two months of intense negotiations have come to a conclusion and Button will put the new Mercedes powered cat through its first steps at the Silverstone circuit in England next Thursday before heading to the Barcelona circuit where they will join their rivals in the final pre season test of the year.

Money for the new venture is said to be coming from Honda and Bernie Ecclestone as well as commercial sponsorship. Although Bruno Senna is the strong candidate for the second seat, there is no official news of this at this stage.