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 Post subject: Re: HRT searching for new owners
PostPosted: 20 Nov 2012, 08:17  
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@f1enigma: Little scoop : @AntonioMesquida and @alex_wurz are behind a new attempt to save HRT.

I was hoping HRT remains in the sport but after reading that Wurz is involved, I am pretty sure the team will vanish next month :lol:
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 Post subject: Re: HRT searching for new owners
PostPosted: 06 Dec 2012, 13:42  
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According to AUTOSPORT mag ex-team principal Colin Kolles is trying to buy the team. His close relationship with Ecclestone could help him to sign the Concorde agreement for 2013.
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 Post subject: Re: HRT searching for new owners
PostPosted: 06 Dec 2012, 17:47  
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If you ask me i wish the are not on the grid next year. Why? Simple!
The have no money, and just look at the car this year in Australia and Brazil!!!! Any difference??? No!! They only changed the some little things on the front wing and thats it, ok and livery too wich still dont make them fast. But genneraly the car is the same as 2010. Only made a few tweaks so it can fit the regulations. But seriously, No KERS, no developments - nothing. While other teams have made massive improvements to their car - even Marussia and Caterham. So why they drive if they dont have money for F1. And even if they make it to the grid next year. 1st race they wont make 107% and go home on saturday. And money wasted, they are really an enbaresment to the sport.

Why can someone with big money buy them and then make car devopments during season...., or they like to be 1st from the back.
Even ex Minardi is a RedBull compared to HRT.
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 Post subject: Re: HRT searching for new owners
PostPosted: 07 Dec 2012, 18:13  
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+1
Well said!

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 Post subject: Re: HRT searching for new owners
PostPosted: 07 Dec 2012, 23:26  
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There isn't a lot of point in buying them for 2013 because of the rule changes in '14.
You'll spend a pile of money for one season, learn a little and then have to throw it all away for 2014. It's just not worth the money. And besides which, there's nothing to buy. HRT rented their factory. Apart from an old and slow car and some tools there aren't any assets worth much.

I think they'll be sold to someone who just wants the grid ticket for 2014. Spend all of your money on building the new spec car so you're ready to actually turn up at first testing in Feb 2014 and give it a half decent shot.

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 Post subject: Re: HRT searching for new owners
PostPosted: 09 Dec 2012, 12:32  
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Quote:
Formtech Composites Ltd. is a design, engineering and manufacturing company of high-end carbon solutions and products located in Milton Park, Abingdon, Oxfordshire.
Major customers are Formula 1 racing teams like:
• Force India F1
• Marussia F1
• Lotus Renault F1
• Caterham F1
• McLaren F1
• Hispania Racing Team F1 (HRT).

Other customers are automotive companies and /or suppliers to automotive companies, suppliers to the military sector and to minor extent to the aerospace industry.
In the last F1 season Formtech Composites sold a reasonable amount of money to the Spanish team HRT and it has come to our knowledge that they owe a substantial amount of money to other suppliers in the motorsports industry.

HRT decided by mid of November 2012 to stop the F1 Racing activity. Formtech Composites is one of their suppliers, who support them until the last race in Brasil. By 15th November a payment plan for all open invoices was jointly settled between HRT and Formtech Composites and 25% of the amount was paid according to the plan – leaving still substantial amount unpaid. One week later HRT changed the responsibility of their people involved in the case and stated the following:

• Liquidation procedures started on 12th November 2012 (so before payment plan was agreed).
• They are no longer in a position to pay 100% of the outstanding invoices
• The new offer is to pay 30p for every Euro owed across their entire creditor list, with no room
for negotiation.
• The owner of the HRT F1 is a Luxembourgian Fund (misleading Formtech Composites Ltd on the
possibilities of finding a viable way to chase the debt further).

According to Formtech Composites Ltd‘s knowledge, the owner of HRT (which was formerly owned by Campos Meta 1 SL) is to 100% Thesan Capital SL and no Luxembourgian Fund.
Formtech Composites doesn’t accept this misleading information tactics. Formtech Composites is going to investigate further into the true shareholder ship of HRT and Thesan Capital SL.

Any support from the press is highly appreciated in order to keep business standards to a civilized level within the motorsports industry.


I'd like to know what the FIA's method for approving the new 3 teams was - because it looks like they never should have admitted Campos Meta in the first place; only Colin Kolles saved them - several times!

It's bad for F1 if we go down to 11 teams because that's teetering near the danger zone. If one more goes, the tenth team can relax safe in the knowledge of money. If you have 11 teams competing for the top ten spots, it drives up performance...

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 Post subject: HRT assets to become Scorpion Racing?
PostPosted: 29 Jan 2013, 14:40  
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*Bump*
http://www.autosport.com/news/report.php/id/105319

I'm sceptical, but here's hoping...

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 Post subject: Re: HRT assets to become Scorpion Racing?
PostPosted: 29 Jan 2013, 14:45  
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Please no... :D

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 Post subject: Re: HRT assets to become Scorpion Racing?
PostPosted: 29 Jan 2013, 14:48  
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It's a good sign that they intend to run from Silverstone - which is undergoing a massive expansion with a new technical park I believe. Part of HRT's problem was location. Even Marussia (Sheffield) and Caterham (Norfolk) found they were too far away from the F1 hub in Oxfordshire.

Ferrari, Sauber, STR have been established for a long time. But if you threw a dart at a map of Britain and it landed at Silverstone, you'd find most of the F1 teams within a 20 mile radius.

I think when people say 'Oh Force India, they're based across the road from Silverstone'. It isn't an exaggeration! You get to the roundabout; left is the main entrance to the circuit and right is their factory road!

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 Post subject: Re: HRT assets to become Scorpion Racing?
PostPosted: 29 Jan 2013, 22:44  
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Well, if the new team would actually "DO" something, I'm all for it, just not another HRT, please...

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 Post subject: Re: HRT searching for new owners
PostPosted: 30 Jan 2013, 11:50  
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phil1993 wrote:
Quote:
Formtech Composites Ltd. is a design, engineering and manufacturing company of high-end carbon solutions and products located in Milton Park, Abingdon, Oxfordshire.
Major customers are Formula 1 racing teams like:
• Force India F1
• Marussia F1
• Lotus Renault F1
• Caterham F1
• McLaren F1
• Hispania Racing Team F1 (HRT).

Other customers are automotive companies and /or suppliers to automotive companies, suppliers to the military sector and to minor extent to the aerospace industry.
In the last F1 season Formtech Composites sold a reasonable amount of money to the Spanish team HRT and it has come to our knowledge that they owe a substantial amount of money to other suppliers in the motorsports industry.

HRT decided by mid of November 2012 to stop the F1 Racing activity. Formtech Composites is one of their suppliers, who support them until the last race in Brasil. By 15th November a payment plan for all open invoices was jointly settled between HRT and Formtech Composites and 25% of the amount was paid according to the plan – leaving still substantial amount unpaid. One week later HRT changed the responsibility of their people involved in the case and stated the following:

• Liquidation procedures started on 12th November 2012 (so before payment plan was agreed).
• They are no longer in a position to pay 100% of the outstanding invoices
• The new offer is to pay 30p for every Euro owed across their entire creditor list, with no room
for negotiation.
• The owner of the HRT F1 is a Luxembourgian Fund (misleading Formtech Composites Ltd on the
possibilities of finding a viable way to chase the debt further).

According to Formtech Composites Ltd‘s knowledge, the owner of HRT (which was formerly owned by Campos Meta 1 SL) is to 100% Thesan Capital SL and no Luxembourgian Fund.
Formtech Composites doesn’t accept this misleading information tactics. Formtech Composites is going to investigate further into the true shareholder ship of HRT and Thesan Capital SL.

Any support from the press is highly appreciated in order to keep business standards to a civilized level within the motorsports industry.


I'd like to know what the FIA's method for approving the new 3 teams was - because it looks like they never should have admitted Campos Meta in the first place; only Colin Kolles saved them - several times!

It's bad for F1 if we go down to 11 teams because that's teetering near the danger zone. If one more goes, the tenth team can relax safe in the knowledge of money. If you have 11 teams competing for the top ten spots, it drives up performance...[/quote]

Id actually say thats false to be honest. I mean, we all knew Caterham was better than Marussia, and it was race attrition that put Marussia in 10th not because they were better than Caterham. STR are always 9th, 8th to 6th is always williams/sauber/FI, 5th/4th is always Lotus-renault/Merc. then its RBR/Mclaren/Ferrari.

Theres no incentive for Caterham to go forward because they dont have the budget. Marussia still arent close to Caterham, a good 6tenths to a second between them. STR will never move forward, Williams/FI/Sauber are only ever going to fight over 6th place, Lotus and Mercedes will fight over 4th, and the top 3 will fight for the championship.

Theres a clear status quo; Marussia cant fight with Caterham, Caterham cant challenge STR, STR cant challenge williams/sauber/FI, they cant challenge lotus/Mercered, they cant mount a challenge to RBR/Ferrari/Mclaren.

Marussia wont get 10th this year, Caterham wont get 9th either. The last 3 teams are just there to make numbers up.
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