Hispania Racing Team not for sale
Hispania Racing Team (HRT) joined the Formula 1 this season along with two more new teams by the names of Virgin Racing Team and Lotus Racing Team. All three of these teams were unable to prove anything in their debut season but since Lotus is a recognized
name in the sport, the team was able to perform comparatively better than the other two teams.
Bernie Ecclestone stated earlier this year that only Lotus might survive until next season while Virgin and HRT might face a lot of problems and therefore, they might have to quit eventually.
Recently, it was revealed that HRT did not have the finances to continue in the sport and as a result, the team was up for sale. However, the team recently revealed that these speculations are false and the team is not going through such a financial crisis.
The team is yet to confirm both of its drivers for the 2011 Formula 1 season and since the team has some support from their sponsors including former Telefonica’s boss Juan Villalong, the team might be able to make it until next season. Even if the team
is up for sale, there are many people who were interested in coming to the Formula 1 through a team; Jacques Villeneuve being the most prominent one out of them. Juan stated that the team has not been able to grab more investors yet.
“Jose Ramon Carabante and his equity partners have put up the team for sale. It is evident that if Carabante finds a buyer he will dispose of the team,” according to a newspaper.
The team parted with partners Toyota Motorsports who helped the team actively in 2010 and according to a newspaper, the team does not have a car, sponsor or drivers and they only have a Cosworth engine.
HRT denied speculations which suggest that their owners have put the team up for sale and the team is expected to take part in the 2011 Formula 1 season.
“The team is not on sale, we are working for 2011. Carabante is working on getting sponsors and investors. One Spanish group is interested in joining the team but things are not so easy nowadays in the world,” an HRT spokeswoman said.
However, the team still has to confirm both of their drivers and they are hoping to develop a more promising car for the 2011 season.
Tags: