BRIEFLY: Honda quits F1

Honda said today that it was pulling out of Formula One due to the global financial crisis.

“Honda Motor Co. has come to the conclusion that we will withdraw from all Formula One activities, making 2008 the last season for participation,” an emotional Honda Motor president Takeo Fukui said at a Tokyo news conference.

“This difficult decision has been made in light of the quickly deteriorating operating environment facing the global auto industry, brought on by the subprime problem in the United States, the deepening credit crisis and the sudden contraction of the world economies,” he added.

Honda Motor also supplied engines and other technical support to Formula One team Super Aguri, which called it quits due to financial problems in May.

BASEBALL

Four Bonds counts dropped

Federal prosecutors dropped four counts of lying to a grand jury against Barry Bonds, leaving him to face trial on 10 counts of making false statements plus an additional obstruction of justice charge. The career home run champion faces the same potential sentence range —- probation to roughly two years in prison —- if convicted. His trial is scheduled to begin March 2… . Free agent Edgar Renteria joined the San Francisco Giants, receiving an $18.5 million, two-year contract to replace 11-time Gold Glove shortstop Omar Vizquel. A five-time NL All-Star, Renteria spent the 2006-2007 with the Braves… . Free agent reliever Jorge Julio agreed to a $950,000, one-year contract with Milwaukee. The 29-year-old right-hander had a 0.73 ERA in 12 appearances for the Braves in the second half of the season… . The St. Louis Cardinals acquired shortstop Khalil Greene from the Padres for minor league pitchers Mark Worrell and a prospect to be named.

MORE RACING

Petty, Evernham in talks to merge

Petty Enterprises is in discussions to merge its storied franchise with Gillett Evernham Motorsports, The Associated Press has learned from multiple people familiar with the talks who requested anonymity because the negotiations are ongoing.

GOLF

Australian PGA: Two share lead

Paul Sheehan shot a 6-under 66 to share the lead at the storm-delayed Australian PGA championship. Sheehan and Tim Wilkinson are up by a shot over four players, including 2006 U.S. Open winner Geoff Ogilvy. John Daly shot a 71.