Thesan Capital announces HRT F1 Team up for sale

Thesan Capital, owners of Spanish Formula One Team HRT have stated that their recently acquired team is up for sale though it is just 16…

Thesan Capital, owners of Spanish Formula One Team HRT have stated that their recently acquired team is up for sale though it is just 16 months since they purchased a majority stake in HRT F1 Team from Jose Ramon Carabante in July 2011. This news has been confirmed and owners are currently in talks with a host of prospective buyers who have shown keen interest in taking over the team despite fact that the team did not fare well in three seasons in Formula One and have not scored a point since joining F1 in 2010.

The new owners are expected to be finalized in the coming weeks which will help the team in moving ahead. Post July 2011, HRT Team moved base to Madrid but due to limited budgets and Cosworth engines the team failed to compete on a sound footing with rivals but it is hoped that new investors would be able to counter these limited budget issues and take the team forward.

There is also no revelations as to who potential buyers will be though the team will continue with Indian racer Narain Karthikeyan on the team while China’s Ma Qing Hua is the new test and reserve driver and Spaniard Pedro de la Rosa is said to be under contract for the 2013 racing season.

Official statement from Thesan Capital SL

Madrid, 12th of November 2012

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.

According to the HRT Formula 1 Team management, “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”.