Which F1 team is known as the 'One Pound Formula 1 team'?

F1 teams are one of the biggest sports organizations on the planet. They are capable of developing technologically advanced cars that can race at eye-watering speeds, resulting in most of the teams being worth billions.

However, there has been a team in the past that was sold not for billions or even millions, but for £1 only.

That was the Honda F1 team, which later became the infamous Brawn GP. Brawn GP is named the 'One Pound Formula 1 team' because former Ferrari and Benetton's technical director, Ross Brawn, bought the Honda F1 team for £1 only. He then continued the team's operations in the sport under a new name.

The story begins all the way back in 2008, when Honda was trying to withdraw it's name from the sport but was not willing to sell it's F1 team to the partners and sponsors. This was because they could have disbanded the team and sold its assets. The Japanese automotive giants were also concerned for the jobs of hundreds of team members.

Hence, in a dire need to withdraw their name and still continue their team for their crew, Honda essentially gave the team to Ross Brawn. The £1 price tag was effectively symbolic.

Brawn GP remains popular in the sport and is regarded as a masterclass of a tactic by Ross Brawn. This is because the team went on to win the 2009 constructors' and drivers' world championships, right after experiencing a major brand shift.

In a 17-race season that year, Brawn GP won eight. Jenson Button was the star driver, clinching his first and only championship.

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James Vowles on how Brawn GP was so successful in 2009 F1 season

James Vowles was part of the Honda F1 team even before it was converted into Brawn GP in 2009. He worked as its chief strategist and was well aware of how the team was operating before and after the change of hands.

While appearing on the Beyond the Grid podcast, the former Mercedes director explained how the Brawn GP's development of the double diffuser was key to their success. He added that the team was mainly focusing on the future rather than the current season.

Vowles said:

"In 2009, the brilliance behind it was that all the work was done in 2008 and 2007 to a certain extent. But 08, especially, was the sacrificial year. We always knew 08' would be a struggle and it was. We were pretty poor in 08', not great 07' even for that matter."

He added:

"Because the focus was on running three wind tunnels in different countries to produce the next year's car, the 2009 car. So what you have to do is get everyone aligned with the vision that it's not about now, you have to give up on now. It's about what's next year or the year after."

At the end of the 2009 F1 season, Daimler AG, the parent company of Mercedes, in partnership with Aabar Investments, bought a 75.1% stake in Brawn GP. They then rebranded it as the Mercedes F1 team we all know today.