James Allen speculated on Monday that the Virgin brand might be linked to a Honda F1 buyout. This morning according to Reuters, an unidentified source close to the Japanese manufacturer has stated: "They have made a bid to purchase the team."

A spokeswoman for Branson declined to comment, with the same noises coming from Honda's direction.

As with any F1 rumours, nothing is confirmed until it's in writing, and even then you should consider it suspect. However, with Reuters running the story we have a pretty good indication a bid has been put forward. Although where this leaves Nick Fry and Ross Brawn and their management buyout is anyone's guess.

Reuters have not been able to confirm if the rumours linking former BAR man Adrian Reynard to the project are correct, although yesterday Grandprix.com pointed out that Reynard still owns land on which the team's factories are built, and possibly a building or two.

Additionally Takuma Sato, the driver that simply won't give up, gets a mention the in Reuters release, due his close association with Virgin Atlantic Japan. Could we yet see the man return to the grid in 2009, despite being pipped to the Toro Rosso seat by Bourdais?

Please do let us know what you make of it all in the comments. The Honda saga isn't going to end quickly - is Branson serious, will we see more of Reynard and would you like to see a Button / Sato line-up once again?