Tokyo - There have been no serious buyers for the Honda Formula One team, the company's CEO told a press conference in Tokyo Monday.

"There are various offers for the team but we have not seen any serious buyer yet," Takeo Fukui said. "We find the sale process difficult."

The second-largest Japanese carmaker announced its withdrawal from the sport last December because of the global economic crisis, sending shockwaves through the sport.

There had been renewed hopes that Honda could be on the grid in a new guise for the season-opening Australian Grand Prix on March 29 after Virgin boss Sir Richard Branson admitted he would consider becoming involved in the sport if certain financial and environmental conditions were met.

"If we were (going to take over Honda) there would be a clause that would prevent me talking about it," Branson told the BBC on Saturday.

"Having said that, I love Formula One, I think it could be even more exciting and I think the management of the sport agree on that."

Fukui, who will step down from his post in June, said that while talks with potential buyers were difficult, a possible takeover was not "totally impossible."

According the Sunday's News of the World newspaper, F1 supremo Bernie Ecclestone had an offer to help with a planned management buy- out turned down. (dpa)