Honda Motor Company of Japan has announced it will take full control of the BAR-Honda Formula One racing team in time for the 2006 season.

Honda already owns 45 percent of the team and says it will buy out the 55 percent owned by the team's founding owner, British American Tobacco, by the end of the year. Terms of the sale have not been announced.

Britain's Jenson Button and Rubens Barrichello of Brazil will drive for the team.

Honda has not had its own Formula One team since 1968. It dropped the team after four years with just two wins in 35 races. The company's most recent foray into Formula One began in 2000, when Honda joined BAR to supply engines and jointly develop chassis technology.

Some information for this report provided by AFP and AP.