Honda quit Formula One last month

Honda Racing boss Nick Fry has said the Japanese company is considering around 12 offers for its Formula One team.

Fry said the chances of a sale were "very positive", boosting the racing team's prospects of making the grid for the new season.

"We had, as you might expect, a huge amount of interest at the start - probably well in excess of 30 groups came to us," said Fry.

"We have narrowed that down to something in the region of a dozen."

He told autosport.com: "We are currently talking to Honda about what is the best bet for the future."

The Japanese manufacturer pulled out of Formula One last month, blaming the global financial crisis for their decision.

We are really looking towards a two, three, five year plan for the team Honda Racing boss Nick Fry

"Right at the start of this process (Formula One boss) Bernie Ecclestone said that he was 100% confident that we'd be on the grid in Melbourne, and I have to say that I wasn't quite so sure where his confidence came from," said Fry.

"But as we've gone through this process, my confidence based on what we've seen has increased - maybe not to 100% but it's pretty close."

Fry said Honda were a "once in a lifetime opportunity" for potential buyers thanks to the investment in staff and cars the team had made.

"We've got a team that has benefited from �75m worth of capital investment in the last three years," he added.

606: DEBATE Give your reaction to the offers for Honda

Fry said a consideration in any sale would be to ensure a long-term future for the staff at the Brackley-based racing team.

"Neither Ross nor I want to stand there again and say that everything is fine if in one or two years' time we fall flat on our face again," he added.

"So we are really looking towards a two, three, five year plan for the team."

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