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Dublin: 17 °C Friday 25 July, 2014

F1 also-rans HRT seeking new investors

HRT have been owned by Spanish investment company Thesan since they took over from Jose Ramon Carabante in July 2011.

Image: Manish Swarup/AP/Press Association Images

FORMULA ONE OUTFIT Hispania Racing Team are looking for new investors to move the bottom-placed outfit forward next season.

HRT have been owned by Spanish investment company Thesan since they took over from Jose Ramon Carabante in July 2011.

The team is last on the grid this season having moved to a new factory in Madrid with Thesan reported to be in ongoing talks with a Middle East-based buyer as well as a handful of potential suitors.

“The current owners of HRT Formula One Team (HRT) would like to confirm that they are currently in talks with a number of groups interested in buying the team,” the team said in a statement.

“HRT Formula One Team’s current management hopes to conclude the sale in the upcoming weeks and, with it, enable the team to continue progressing and become a reference in modern-day Formula One after the important achievements already accomplished in this 2012 season.

“HRT Formula One Team hopes to communicate the name of its new owner in the upcoming weeks.

“We believe the moment to let new investors come through for HRT Formula One Team has arrived.

“We’re very proud of the work done by the entire team and of the excellent sporting evolution achieved but the time has come for the team to continue growing with new financial backing.

“We’re convinced that the sporting potential of the team is huge and that the presence of new investors can give it a big boost.”

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