HRT fails to find buyer before deadline

HRT had been put up for sale by owner Thesan Capital just before the United States Grand Prix.

The HRT Formula 1 team looks set to officially close down after failing to find a buyer before the FIA's payment deadline for 2013 entries on Friday.


The squad was absent from the 22-car entry list published by the governing body on Saturday.

HRT had been put up for sale by owner Thesan Capital just before the United States Grand Prix.

Attempts were made to find a buyer before the entry deadline. It was understood that Chinese company Chery Automobile was among those involved in talks to save HRT.


Sources indicate that the team is now working to pay its creditors and that the plan is for the team to shut down without unpaid debts.

Team representatives declined to comment on the current situation.

HRT was originally launched as Campos Meta by former F1 driver Adrian Campos when the FIA invited new entries for the 2010 season.

But its first reconstitution happened before it even made the grid, as former Jordan/Midland boss Colin Kolles was parachuted in to lead a last-minute rescue when the project hit funding problems.

Kolles saw the renamed Hispania team through to the middle of the 2011 season, when it was bought by Thesan.

It was relocated to a Madrid base in an attempt to revive the Spanish team image that Campos had originally planned, with Luis Perez-Sala installed as team boss.

Designing its own car for the first time after adapting a Dallara-produced chassis in its early years, HRT hinted at progress in 2012 as it briefly closed on Marussia.

But it drifted away at the tail of the field by the end of the year, with its funding problems clearly apparent as tales of parts shortages dominated what turned out to be its final races.

HRT had beaten Marussia to 11th spot in the constructors' championship in its first two years, before falling to last in 2012.
Copyright (c) Autosport. All rights reserved.
See more about:  hrt, narain, karthikeyan, ferrari, hamilton, vettel
We’ve driven Honda’s new Jazz, Fiat’s new 500 Abarth, Maruti’s new Alto K10 and a whole load of other new cars in this month’s issue of Autocar India.
What's in this issue?

comments powered by Disqus

HRT fails to find buyer before deadline

notSet

Most Read
Latest News
F1 Finale: Red Bull excluded from qualifying over illegal wing
A report by F1 technical delegate Jo Bauer on Saturday evening said that the...
3 hours ago   1 picture
K1000: Sidhu leads after day one, Gill seals IRC title
This will be Gill-Sherif’s fourth National title, despite them...
5 hours ago   1 picture
Formula E: Chandhok finishes sixth at Putrajaya
In a race of mixed emotions, both Mahindra Drivers lost out on potential...
5 hours ago   1 picture
F1 Finale: Rosberg beats Hamilton to pole
Nico Rosberg beat Mercedes team-mate Lewis Hamilton to pole position ahead...
6 hours ago   1 picture
Nissan countering Datsun Go safety concerns
Nissan training dealers to highlight car's safety features like collapsible...
6 hours ago   1 picture

Autocar Magazine

Issue: 183 | AUTOCAR INDIA – NOVEMBER 2014

We’ve driven Honda’s new Jazz, Fiat’s new 500 Abarth, Maruti’s new Alto K10 and a whole load of other new cars in this month’s issue of Autocar India.
Autocar Magazine
Latest Poll
Which one of these luxury small SUVs would you buy?



or View results
Audi Q3
  39%
 
Mercedes-Benz GLA
  48%
 
BMW X1
  13%
TOTAL VOTES: 2794

Vote now
View previous Polls »