Former Benetton team director David Richards has jetted to Kuwait to broker a possible Middle Eastern takeover of Honda.

The Japanese giants have decided to withdraw from Formula One and are currently seeking a buyer for the Brackley-based team.

Richards has ambitions of entering F1 with his Prodrive outfit, but prohibitive costs have so far delayed the company's entry into the sport.

However, the 56-year-old is now holding talks with the Kuwait-based Investment Dar Company (TID) over a potential buy-out of Honda.

TID are shareholders in Richards' Prodrive team and could possibly raise the funds required to hand the Honda set-up a lifeline.

"There are a group of people in the Middle East who want to support a Formula One entry for me and have been very specific about it for a year now. But we have to agree when the timing is right," Richard told The Mail on Sunday.

"When you sit down in the cold light of day and realise the liability you would be taking on, and the huge restructuring of staff and resources that will be needed, investors will have to think long and hard before taking a punt," he added.

"You will have to bridge a big gap in finance, probably for three years, before balancing the accounts."

For his part, Richard confirmed he is eager to make a comeback to F1.

He said: "I have not ruled out getting back into Formula One, it's something I am very interested to do."

The newspaper also claims Achilleas Kallakis and Vijay Mallya are interested in buying Honda.