HRT searching for new owners after being put up for sale

By on Monday, November 12, 2012

HRT F1 Team is looking for new owners after Thesan Capital confirmed on Monday that the team is for sale.

Thesan Capital took over from previous owner Jose Ramon Carabante in July 2011.

The team moved to Madrid this season and currently sit 12th in the championship.

"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".

"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".

HRT currently employs Pedro de La Rosa and Narain Karthikeyan, with both drivers suffering from car failures in recent events, with rumours suggesting that these are down to a lack of new parts. Spanish media reports that the team will be dissolved if it is not sold by December 2nd.

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