BAR's engine partner Honda is believed to be interested in purchasing the Brackley team and a deal could be done within the next 12 months.
According to reports Honda, who have supplied BAR with engines for the past four years, want to increase their involvement in Formula one, while BAT, the team's current owners, are looking for a way out.

British American Tobacco have said for a while that they would quit F1 prior to 2006, however, are now thought to be keen to leave prior to the introduction of a new British anti-tobacco advertising law. The law comes into effect in 2005.

A source close to BAR told the BBC: "Honda will buy the team eventually - some time in the next 12 months," while another added: "My understanding is that Honda is going to buy a percentage of BAR, but not a controlling interest. There is a deal done, but there are some loose ends to tie up."

However, according to the team's co-founder Adrian Reynard, the board of BAR has yet to be told of the possibility of Honda purchasing the team.

He said: "I hold two seats on the board, but this has not been a board subject, and the co-owners ought to know something about it. It wasn't even discussed at the last board meeting and I don't know if it's going to be discussed at the next one, which is on Monday."

"But I can tell you it has always been my dream that Honda acquires either part or all of the BAR F1 team, because I knew [owner and tobacco giant] BAT's tenure was always going to be limited."

"I believed Honda was a perfect fit - it's a great company - and would dearly love it to be the caretaker of the team, so I am totally supportive of this happening."

Should the deal go ahead, though, it won't have any affect on Jenson Button and Takuma Sato's positions as BAR's two drivers, however, it is thought that team boss Dave Richards will move on.