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Owners put HRT Formula One team up for sale

Published on Nov 13, 2012 6:29 AM
 
Mechanics work on the car of HRT Formula One driver Narain Karthikeyan of India during the first practice session of the Indian F1 Grand Prix at the Buddh International Circuit in Greater Noida, on the outskirts of New Delhi, October 26, 2012. -- PHOTO: REUTERS

PARIS (AFP) - Spanish Formula One team HRT, who have yet to garner a point in its three seasons in Formula One is up for sale, its owners, Thesan Capital, said on Monday.

"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," according to a statement on the team website hrtf1team.com.

"HRT Formula 1 Team's current management hopes to conclude the sale in the upcoming weeks," it added.

Thesan Capital bought the team in July 2011 and moved its base to Madrid but the team has not made an immediate impact, given a limited budget and Cosworth engines that have proved less efficient than those of their rivals.

 
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