Formula 1: HRT to receive major financial support soon
Hispania Racing Team recently revealed that they have signed former Jordan driver Narain Karthikeyan who is the first Indian to ever race in a Formula 1 race.
Narain revealed recently that he wanted to return to the sport after his departure from team Williams in 2007. He drove for Williams as their test driver after driving for Jordan back in 2005 as their full season driver.
However, it is believed that Narain was offered a spot by the team in 2010 as well but the Indian driver rejected their offer. Nevertheless, Karthikeyan is going to bring in a major sponsor to the team as he is backed by an Indian car company, “Tata.”
Other than that, the team’s owner Jose Ramon Carabante recently revealed that he brought a major share in HRT from Adrian Campos before the start of the 2010 Formula 1 season and because of this investment, the team was allowed to race. The team was unable
to secure a single point though but according to Jose, that will not be the case in 2011 as he is close to a major investment deal.
“We are in advanced negotiations for the entry of an international investor. It would be for a minority of capital because I don't want to sell completely,” Carabante told the media.
Carabante also highlighted the fact that HRT finished more races in its debut season as compared to many other teams.
“We finished more races than many other teams, and Virgin, for instance - with a much higher budget - fell behind us. At first it was said we would not be at the first race, then it was said we would last two races, then three, and finally we finished the
season with dignity,” he said.
Since most of the teams are expected to use Kinetic Energy Recovery System in 2011, HRT have not revealed whether they will use the device in their car or not.
Carabante owes almost €50 million to Trinitario Casanova but since July 2010, both of the parties claim that the other owes them millions.
According to some reports, the court recently stated that Carabante must pay €47.5 million to Casanova within 20 days. Jose rejected these reports as he claims that the two parties came to an agreement sometime ago and HRT will not face any financial problems
in 2011 regarding the matter.
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