HRT owners looking for a buyer

HRT has taken the unusual step of confirming on its website that the team is up for sale and that negotiations are ongoing.

Thesan Capital, who bought the team only last season and has since moved it to Madrid, has been looking for investment for some time.

The statement said: “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.”

Pedro de la Rosa has a contract for 2013, but the second seat reamins up for grabs.


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2 responses to “HRT owners looking for a buyer

  1. Peter

    Sounds like pretty standard PR spin trying to dredge up interest where there is none.

  2. Stone the crows

    I wonder how this will work out, will it simply be a change of ownership and the team remains essentially the same, or will it be a complete turn over as it was when Jaguar and Minardi were sold? It’s probably wise to see if they can get more cash flow going this year to help them prepare for the changes in 2014. Money can’t guarantee success as we saw with Toyota, but it can make a difference with the right team and people as we’re seeing with Sauber. I hope HRT in some form stays in the sport and will have the means to do more than show up.

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