Magma Group come to aid of Super Aguri.

TOKYO, Japan -- Japan's Formula One team Super Aguri will be able to start the new season next weekend after securing financial backing from Britain's Magma Group.[AP]

Super Aguri, the first all-Japanese team on the Western-dominated circuit, have struggled for financial support since being founded in late 2005 by Aguri Suzuki, the first Asian to stand on an F1 podium.

"After having talks with various sponsors, investors and interests, we have reached a basic agreement with Britain's Magma Group concerning a contract," team boss Suzuki announced.

"We have discussed many deals and come to understand that this would be the most appropriate one for our team."

The support from Magma Group, led by former Ford and Maserati executive Martin Leach, ends fears that the Honda-powered Super Aguri would be unable to take part in the Australian Grand Prix at Melbourne on Sunday.

Suzuki declined to elaborate on the arrangement, but said that Magma would not be a sponsor.

"We are in the middle of talks on different subjects, including an equity share," he added.

"We are about to put finishing touches on the deal and I am not in a position to go into details at the moment."

Because of their problems Super Aguri have missed most winter testing. The team's two drivers, Takuma Sato of Japan and Britain's Anthony Davidson, drove a hybrid version of their 2007 car with several technical improvements last month.

Suzuki said Japanese carmaker Honda, which has supplied engines and other aid to his team, are satisfied with the deal with Magma.

Super Aguri won just four points last season, putting them second to last and Davidson, who joined the team last year, is not over-optimistic about their prospects in the new season.

"We've gone only three days in total in testing this season. So we are very much on the back foot," he said.

He said the team might not do well in the first few races but "we had a very long winter to prepare mentally for this so we are very much ready."