The team founded by ex-racer Cecchinello has been competing with Honda equipment since its entry into the premier class in 2006 with Casey Stoner.
It has accumulated four victories since then, three with Cal Crutchlow and the most recent with Alex Rins at last year's United States Grand Prix, also the latest win for a Honda rider as the manufacturer finished 2023 last in the constructors' standings.
Speaking to Autosport, Cecchinello revealed that Honda faced a decision that could have had huge consequences for all parties involved in the world championship.
"Last year, due to the lack of competitiveness of the bike, Honda reached a point where it had to make a decision: either invest more in the MotoGP project or withdraw," he said.
"Honda chose to stay, because its DNA comes from motorcycles, even if they now make rockets to travel to space."
With the conviction to remain in the championship, the Japanese brand has turned attentions to developing a competitive bike as soon as possible.
"What I see this year is that there are a lot more Honda people involved," Cecchinello added.
"The Honda presidency has given clear indications that the competitiveness of the MotoGP project needs to be restored. And all of that starts with a greater willingness to make financial resources available."
Source: Autosport