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
The Porsche Macan tested on Indian roads, the first images of the new Hyundai i20 and lots of comparison tests in this issue of Autocar India.
What's in this issue?

comments powered by Disqus

HRT put up for sale by owner

notSet

Most Read
Latest News
JLR buys James Hull’s car collection
The collection acquired by Jaguar includes a wartime Austin used by Winston...
5 hours ago   3 pictures
Volvo S60, XC60 D4 get new diesel engines
New four-cylinder, 2-litre diesel engine replaces existing five-cylinder...
8 hours ago   2 pictures
Bajaj Discover 150 series hits showrooms
Bajaj 150S is priced at a starting rate of Rs 51,721(ex-showroom, Pune);
9 hours ago   1 picture
Mercedes readying new C-class cabriolet
New Mercedes C-class soft-top to use same engines as sedan; will launch...
12 hours ago   2 pictures
New Ford Ka launched in Brazil
Brazilian Ka hatchback will come to India as the Figo replacement.
13 hours ago   3 pictures

Autocar Magazine

Issue: 180 | August 2014

The Porsche Macan tested on Indian roads, the first images of the new Hyundai i20 and lots of comparison tests in this issue of Autocar India.
Autocar Magazine
Latest Poll
Would you buy Honda's MPV, the Mobilio, instead of a family sedan?



or View results
Yes
  38%
 
No
  50%
 
Maybe
  12%
TOTAL VOTES: 1082

Vote now
View previous Polls »