HRT goes up for saleUPDATE The future of Spanish F1 team HRT "is up in the air," according to Javier Rubio of ELCONFIDENCIAL.com. With "serious economic difficulties" as the season gets close to a finish, 32 employees of the team have been told that their services were not needed anymore. Furthermore, HRT owner Thesan Capital, has put the team up for sale with a goal of finding a buyer "before December." If no deal is reached, "it could mean the end of the Spanish team."
Thesan Capital released the following statement, "TC II S.a.rl., the current owner of the HRT Formula 1 Team, would like to confirm that they are currently in talks with a number of groups interested in buying the team. HRT'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." ELCONFIDENCIAL.com
11/12/12 Formula 1 team HRT have been put up for sale by their Spanish owners. Private equity firm Thesan Capital bought HRT last summer and this year moved it to new headquarters in Madrid.
A statement from HRT on Monday said Thesan was "in talks with a number of groups interested in buying the team".
It added that they hoped to conclude a sale "in the coming weeks and with it enable the team to continue progressing and become a reference in modern F1".
Spain's Pedro de la Rosa and India's Narain Karthikeyan are the current drivers for HRT, who made their F1 debut in 2010.
“We're convinced that the sporting potential of the team is huge”
They are last in the constructors' championship with two races to go this season, and finished 11th out of 12 teams in both 2010 and 2011.
The statement continued: "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."
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