HRT put up for sale by owner

Spanish investment company Thesan Capital took over the team from previous owner Jose Ramon Carabante in July of last year.

The HRT Formula 1 team has confirmed it is looking for a new owner after being put up for sale by Thesan Capital.

Spanish investment company Thesan took over the team from previous owner Jose Ramon Carabante in July of last year.

Since then the team has moved to a new factory in Madrid, where the Spanish squad has started working from this season with Indian driver Narain Karthikeyan and Spaniard Pedro De La Rosa as drivers.

HRT has been at the back of the grid this year and is currently in last place in the standings.

AUTOSPORT understands the team came close to a sale to a Middle East-based buyer at the end of last month, and that talks are still ongoing.

Thesan said in a statement on Monday that it was time for the team to find a new owner that would help it move forward.

"The current owners of HRT Formula 1 Team, TC II S.a.rl., would like to confirm that they are currently in talks with a number of groups interested in buying the team," said a statement issued by the team.

"HRT Formula 1 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 1 after the important achievements already accomplished in this 2012 season.

"HRT Formula 1 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 1 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."

Copyright (c) Autosport. All rights reserved.
See more about:  hrt, f1, team, sale
An exclusive drive of the spanking-new Hyundai Elantra, drives of the Audi Q2, the Ford Mustang, the Volvo S90 and a lot more inside!
What's in this issue?

comments powered by Disqus

notSet

Trending Now
Latest News
Next-gen Mercedes GLE takes shape
The new GLE SUV will likely get a more aggressive look; to be introduced in...
2 hours ago   1 picture
Nexa sells over 1 lakh cars in its first year
Maruti to expand Nexa dealerships to 250 by March 2017; expected to...
6 hours ago   1 picture
Tesla mulling Gigafactory for India
Tesla CEO Elon Musk hints India could be a location for the electric...
9 hours ago   2 pictures
Mercedes to launch nine new models globally in 2017
The Mercedes-AMG GT C roadster is part of the German carmaker’s 2017...
13 hours ago   1 picture
Lexus India launch confirmed for next year
After several false starts, Toyota’s luxury brand, Lexus will finally...
14 hours ago   2 pictures

Autocar Magazine

Issue: 204 | Autocar India: August 2016

An exclusive drive of the spanking-new Hyundai Elantra, drives of the Audi Q2, the Ford Mustang, the Volvo S90 and a lot more inside!
Autocar Magazine
Latest Poll
Is Delhi’s ban on diesel engines above 2000cc justified


or View results
Yes, every diesel car banned counts
  30%
 
No, it’s discriminatory and won’t make an actual difference
  70%
TOTAL VOTES: 1054

Vote now
View previous Polls »