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Well, all things considered. F1 is a damn hard business. Even if you have a lot of money, which as we all know, runs the sport, you still need a lot of know how and knowledge of what is going on.
Building a team from complete scratch is a HUGE effort, and i think Toyota have been very modest and not overly confident in their success. As BAR was. A team who were "simply" converted from another team.
If they have made a mistake, its that they are based in Germany. If anywhere, it would be Japan, but more suitably, GB would be better.
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