Monteiro to buy GP2 team?

UPDATE #2 This rumor is upgraded to 'fact' today – see Hot News item.

11/02/08 Tiago Monteiro has been officially connected with a deal to purchase an existing GP2 team. However, the former Formula One racer and current Official SEAT Driver for SEAT Sport in the official FIA WTCC Championship, has made a point of stopping certain rumors in their tracks and stressing that to date, nothing has been finalized.

"To cross over to the other side of pitwall and head the undertaking of a project such as this is very stimulating for a driver," explained the Portuguese racer. "It means that I will need to find partners as well as sporting and commercial solutions that will guarantee that the company can be competitive. But even if the negotiations are well advanced, it is important that everyone understands that nothing is finalized."

Tiago Monteiro hopes that his experience in motor sport will contribute to the overall success of this new project. GP2 is a open wheeler Championship whose popularity is continually increasing, with worldwide exposure and has been the stepping stone to Formula 1 since its creation in 2005, with young talented drivers such as Lewis Hamilton, Nico Rosberg, Timo Glock, Nelsinho Piquet and Heikki Kovalainen to reach the pinnacle of Motorsports.

The GP2 Championship also enjoys exceptional press coverage thanks to a common race calendar with the Formula One series. As in any commercial process of this magnitude, Tiago Monteiro must respect the discretion of his current negotiations, but will reveal the full details of the situation in the coming weeks. Monteiro PR

11/01/08 (GMM) Tiago Monteiro, the former formula one driver from Portugal, is reportedly in talks to buy a GP2 team.

The 32-year-old, who raced for the Silverstone based Jordan and Midland teams in 2005 and 2006, has been linked in internet reports with a buyout of the struggling Spanish team BCN Competicion.

In response to the speculation, Barcelona based BCN confirmed in a statement that it is "discussing a commercial operation that will be decided before end of November 2008".

Monteiro, now racing in the world touring car championship for SEAT, famously drove to the podium at the highly controversial six-car US grand prix of 2005.

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