Hispania Racing Team taken over by Spanish investment group – Formula 1 news
A Spanish investment group, Thesan Capital has acquired majority shares in Formula 1 team, Hispania Racing Team.
A Spanish businessman Jose Ramon Carabante sold off his HRT shares to Thesan Capital for over $30 million. The Madrid-based investment company will make a lot of developments in the current team at the upcoming Formula 1 race seasons. In addition, they informed
that the team will completely settle in Spain very soon.
A press release by HRT read, “The Spanish investment group will lead the development of Hispania Racing in the upcoming years, maintaining the current team and directors, which is one of the main assets of the company, and will try to develop and search
for opportunities to optimise and improve the performance of the team in the upcoming seasons.”
It further said, “The Thesan Capital team, who consider the acquisition of Hispania Racing as an opportunity to enter a sector with great prospects of growing, will work with the aim of strengthening the strategic management of the group.”
The team added about their new deal that Thesan Capital would not change the current HRT team members and directors but they would focus on the permanent settlement of the team in Spain.
With regards to HRT’s performance in the ongoing season, they are still unable to make decent runs during the races. The team’s F111 car is not good enough to support the drivers in the 2011 Formula 1 season.
Recently, HRT announced that the Toro Rosso test driver Daniel Ricciardo will race in place of team’s driver Narain Karthikeyan in the remainder of the 2011 Formula 1 season. However, Karthikeyan will take part at the Indian Grand Prix for the team.
HRT are hopeful that the Red Bull rookie Ricciardo will do well for them in his races.
The team is still busy working on their car for making it able to perform well on the grid in the remaining races of the season.
The ninth round of the season is scheduled to be held on July 10, 2011 at the Silverstone circuit. Let’s see how Ricciardo manages his first race with HRT in Britain.
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