Very early this morning the future of Honda Racing was announced, and it’s called Brawn GP.

So it’s a rubbish name, the website is pretty poor, and the colours of choice seem to be black, white and a fairly unpleasant shade of yellow.

But let’s be fair: it’s very good news. The details so far are as had been rumoured: Ross Brawn has taken complete ownership of the team; Jenson Button and Rubens Barrichello will drive; Mercedes-Benz will supply the engines.

There’s no mention of team structure yet, and thus where Nick Fry – who was Honda Racing’s CEO – might fit in. He’s not hugely popular with a segment of fans, and many thought his time with the team would be over. My feeling is that it was just the role of team principal – which he held between the tenures of David Richards and Ross Brawn – to which he was ill-suited.

No mention either of sponsors, though I imagine there must have been progress in that area for Honda to agree to the buyout.

Doubtless further details will follow as and when the team has time, while frantically trying to get ready for the first race of the season in just three weeks.