Flamboyant Indian business tycoon Vijay Mallya is pitched against Mexican billionaire and one of the world’s richest persons, Carlos Slim Helu, among others for buying the Formula One team of Japanese auto giant Honda, a report said on Monday.

Honda put its Formula One team on the block earlier this month as it decided to move out of the racing activities due to the economic slowdown saying that it was looking to sell the team by the end of the year.

In a report published today, automotive industry website Motor Authority said that Carlos Slim, Force India’s Mallya and UK-based motorsport and auto engineering group Prodrive’s David Richards have emerged as the potential buyers. The other interested parties include a Swiss hedge fund and Greek shipping tycoon Achilleas Kallakis, it added.