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
Honda patents 11-speed triple-clutch gearbox
Despite the patent being filed, it remains unclear as to when the new...
11 hours ago   1 picture
Roborace reveals its first autonomous racing prototype
Prototype to test software for autonomous racers; autonomous EV motorsport...
16 hours ago   3 pictures
INRC 2016 Round 2- Rally of Maharashtra
Round 2 of the Indian National Rally Championship held in Nashik is over...
1 day 3 hours ago   3 pictures
World’s first autonomous taxi service begins trials in Singapore
The trials are being held in a limited 6.5 sq.km. area in Singapore;...
1 day 10 hours ago   1 picture
Lamborghini Centenario Roadster revealed
The limited-edition roadster is the sister model of the Centenario Coupe;...
1 day 16 hours ago   4 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
For city duties, would you ride a moto-scooter like the Aprilia SR150 over a motorbike ?


or View results
Yes, these scooters are fun and way more practical
  73%
 
No, only a motorbike will do for me
  27%
TOTAL VOTES: 212

Vote now
View previous Polls »