HRT up for sale

  • Last Updated: November 12 2012, 17:11 GMT

The owners of the HRT Formula One team hope to sell the Spain-based outfit to new investors in the coming weeks.

HRT: Up for sale to new investors

HRT's current owners, investment group Thesan Capital, have revealed they are looking to relinquish control just 16 months after buying the majority stake in the team from Jose Ramon Carabante.

The team entered Formula One at the start of 2010 but remain without a points finish to their name approaching the end of their third season in the sport.

A statement on HRT's official website read: "The current owners of 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 Formula 1 Team's current management hopes to conclude the sale in the upcoming weeks and, with it, enable the team to continue progressing.

"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."

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