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HRT Formula One team up for sale

by Niharika Ghorpade Posted on 14 Nov 2012

Owners of the F1 team Narain Karthikeyan drives for have confirmed they are in talks with various potential investors interested in buying the team

Narain Karthikeyan Team HRT F1

 

Thesan Capital, owners of the Spanish-based Formula One team HRT, have confirmed they are in talks with various potential investors interested in buying the team and hopes to conclude the sale in the upcoming weeks.

 

The team, which has Indian Narain Karthikeyan and Spanish veteran Pedro De la Rosa as their drivers, has failed to gain points in the championship standings this season. They’ve finished 11th of 12 teams in the 2010 and 2011 seasons.

 

Thesan Capital had taken over the team last July and had former Grand Prix driver Luis Perez-Sala as its team principal. Earlier this year, it had shifted its headquarters from Germany to Madrid. The team management put up a statement on its website which says, "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”.


The new owners would be HRT's fourth since the team's inception as Hispania Racing Team in 2009.