HRT names wealthy new investor

HRT has confirmed that it has a new investor in the form of businessman Juan Villalonga, the former Telefonica boss who was behind that company’s move into F1 in the late nineties. There is now a clear push to emphasise the Spanish roots of the team.

Villalonga was named one of the world’s top 100 CEOs by the Harvard Business Review this year, and clearly his contacts book is of great value to the team, which has been given a hard time by Bernie Ecclestone in the media. However Villalonga has already met with Ecclestone to discuss his plans.

The team says that “as soon as the agreement was made, both parts said that their partnership has been established to reinforce the team, create and strengthen the project of the first ever Spanish Formula 1 team. The immediate aim, following the recently announced agreement with Williams F1, is to be able to have a much more competitive team.”

Team owner Jose Ramon Carabante said: “He has always felt, as I do, a clear passion for motorsport. We will substantially strengthen our ability to generate innovative activities in marketing and sponsorship with his incorporation. We will also be able to make the best of his leadership, knowledge and relationships in the fields of technology and communications, and therefore be able to fully exploit the opportunities we are given after this tough first year. This is a sum that multiplies and enhances our ability to grow as a team”.

Villalonga added: “Formula One is always associated with innovation, research and technology, and Hispania Racing must be represented on that level, with a stable leadership. The key is the quality and not the quantity of sponsors.”

 The team also issued a CV which gives some indication as to Villalonga’s profile in Spain: “Juan Villalonga Navarro (born April 8, 1953) is one of the most influential Spanish businessmen of the 21st century.  His high-profile career includes such prominent positions as chief executive officer (CEO) of Telefonica (1996-2000), partner at McKinsey & Company (1980-1989), CEO for Credit Suisse First Boston (1993-1994), and CEO of Bankers’ Trust in Spain (1995-1996). Today, he is a business advisor and accelerator for companies and management teams worldwide, using instinct, market vision and sharp analytical skills to help these companies identify new growth opportunities, increase revenues, and create cultures that encourage risk taking and develop value for the clients.  In 2010, Harvard Business Review named Villalonga one of the world’s top 100 CEOs. Villalonga grow Telefonica from a state-owned monopoly to one of the top three telecommunication companies in the world.  In just four years at the helm, he  increased Telefónica’s market cap by $127 billion, securing the company’s leadership position in Spain and transforming Telefonica into an international telecommunications force. His vision to enter in Brazil in 1998 was key to become one of the leading operators in the world.”