HRT put up for sale by Thesan Capital

2012 F1 season

Narain Karthikeyan, HRT, Monaco, 2012Spanish F1 team HRT says it has been put up for sale by owners Thesan Capital.

“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,” said the team in a statement on its website.

“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. 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.”

HRT was originally formed by ex-F1 driver Adrian Campos to enter as Campos Meta in 2010. But it changed owners before the season began and became Hispania Racing Team.

Thesan bought the team last year, when it finished 11th in the constructors’ championship for the second year in a row. The team is still to score its first point, and is currently 12th in the standings.

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105 comments on HRT put up for sale by Thesan Capital

  1. Andy2286 (@andy2286) said on 13th November 2012, 1:45

    Achievements? What the **** have they actually achieved? They’re just mobile chicanes, and recently they haven’t even been able to do that properly as they keep retiring with brake failure’s or what not.

    Let’s be honest, if HRT suddenly dissapeared, would anyone actually notice?

  2. seat could buy the team. it would also be vw’s gateway to f1.

  3. camo8723 (@camo8723) said on 13th November 2012, 2:37

    They should go to Brazil. Russia is involved with Marussia, India with Force India, the Spanish market seems very weak right now but the Brazilian seems strong. Or the could sell the team to a Chinese enterprise. HRT already test a Chinese driver this year so could be a perfect deal for them.

    • That’s why there are two drivers from Brazil. Until PDVSA put the cash in Williams, that role belonged to Petrobras. But after Copersucar, I may be wrong but don’t see the country jumping on in the short term…

  4. Narain he is trying to stay with HRT (2013) now the team is on sale, what will happen to Narain ….a big…..?,

  5. Kimi4WDC said on 13th November 2012, 4:58

    Probably want to cash in on all that capital investment they have done with the factory etc with out suffering huge tax consequences. Wouldn’t be surprised if they sell it to their sister company of some sort :)

  6. Prof Kirk (@prof-kirk) said on 13th November 2012, 6:08

    Stefan GP? Where did those guys disappear too with their Toyota F1 cars?

    I often wonder how competitive that Toyota F1 would of been, and if it were to be modified to suit the 2013 rules, would it be more competitive than the current Caterham/Murrusia/HRT ?

    • Prisoner Monkeys (@prisoner-monkeys) said on 13th November 2012, 7:45

      @prof-kirk – I believe Stefan GP has been shut down. The parent company – which hactually had little more than its name and a ban account holding 500 Euros – certainly has been.

      As for the 2010 Toyota, it would be horrendously outdated, assuming it could even pass scrutineering.

  7. JP (@jp1987) said on 13th November 2012, 8:10

    What about Slim? A few years ago he was offered Brawn GP after Honda bailed. They already have a racing team in Escuderia Telmex across a number of categories. Imagine Adrian Fernandez as Team Principal and Jo Ramirez as managing director. Sergio and Esteban racing there and a GP in Mexico. Just thinking about it give me goosebumps, it would be so sweet :)

    • BasCB (@bascb) said on 13th November 2012, 10:10

      I think people like Slim (did you know that name means “clever” in Dutch?) got rich by putting money in a place where it helps actually make more money. Supporting drivers might be a good move to move the country forward and help awareness of his brands.
      Buying a fledging team though is one of the best ways to lose far more money!

    • JP (@jp1987) said on 13th November 2012, 10:15

      You are absolutely right. He is know in Mexico as King Midas for turning everything he touches into gold (sometimes using quite questionable practices if you ask me) So, he ain’t gonna touch HRT unless there is some bucks to made from it. Additionally, he is not know to be a show-off, so he wouldn’t buy an F1 team just for show. In case he would get into F1 however, he would be pouring proper cash in it though.

  8. zimkazimka (@zimkazimka) said on 13th November 2012, 9:11

    I know this is crazy, but a strange news item surfaced over here (Central Asia/Kazakhstan) not long ago. Supposedly, Daniel Juncadella, who was racing for a Kazakhstan-backed Formula 3 team this year, implied he’ll somehow end-up in Formula 1 in 2013.

    The exact quote in a poorly *translated* press-release was:
    “I want to thank everybody who supported me and watched my successes. In this season I can adapt in the most prestigious category of the world – Formula 1. This is the beginning of the major way for me, and I am glad that with me a brand of the winner – “Astana” and the whole republic.” (http://www.bnews.kz/en/news/post/107665/)

    He refers to Astana Group, which represents state-owned companies from Kazakhstan, and sponsors selected sports, including the cycling team Astana (remember Vino?).

    Of course, Juncadella was likely talking about his test with Ferrari, and it was the imagination of local reporters/translators, that put him in a entirely new unheard-of F1 team next year. But I find it interesting that one week we have a crazy news piece about Astana somehow ending up in F1, and next week HRT is looking for buyers. Oh, and what do you, Juncadella is a nephew of Luis Pérez-Sala, HRT team principal.

    Wait, there’s more. Kazakhstan’s dictator, akhem… president was present at Abu Dhabi race this year, and he never showed any interest in F1 before. So who the hell knows… He definitely has the money, and considers Astana (the city) his personal creation that should be promoted as much as possible…

    • Prisoner Monkeys (@prisoner-monkeys) said on 14th November 2012, 1:06

      @zimkazimka – That’s an intriguing, if slightly bizarre theory.

      According to the Autosport article on this, HRT have been talking to mystery “Middle East-based buyers”. The problem with buying a Formula 1 team is that you have to commit money to the sale to buy the team, and then commit money to the team to run it. It would be very difficult to do that unless you know where the money is coming from. If Nursultan Nazarbayev was in Abu Dhabi, then I’m guessing he’s talking about getting Juncadella in the team and committing the Astana Group as the team’s new sponsor. That would make the sale of the team much easier to execute.

  9. TheJudge (@thejudge) said on 13th November 2012, 12:15

    if Bernie allows customer cars again,then the possible new buyer will get himself into a heck of a better sittuation than the previous ones.

  10. BaKano (@bakano) said on 13th November 2012, 17:47

    I always liked HRT and have to admit that I had a special pleasure in seeing finishing ahead of Virgin in the 2 previous years in the WCC. Mainly because a lot of people were seeing them as just a joke…
    And I know that sometimes they look like a “joke”, specially in failing to have the cars ready for any pre-season testing and failure to race them at the first race. And there is no doubt that they have the slowest car.
    Still I do agree with the team when they mention their achievements, although this year they will finish last for sure, they established a permanent headquarters near Madrid.
    And considering that Marussia and Caterham have reduced a bit the gap to the rest of the field, seeing that HRT are not so far beyond is also an achievement. And they actually managed to be faster here and there, like in the Canada GP, when De La Rosa beat both Marussias in Qualifying.

    Like someone said, there will always be someone that is the backmarker but like we see in other categories, it shouldn’t be always the same. HRT are pretty much the perennial backmarkers so that is bad. But still is great to see such a team with such a dog of a car and ridiculous resources (when compared to all the others) still participating and be able to bridge the gap even if by little steps.

    I believe that HRT achieved more than Virgin/Marussia and Caterham (1Malaysia) when you look at their objectives and expectations.

  11. As much as I’d love to see Carlos Slim or Honda or a mid-level manufacturer / developer of some sort (Lola or Dallara or Prodrive) go for a buy-in, all my money is on the fact that we’ll have the first official chinese F1 team on the grid next year…

    Either that or it’s 22 cars for 2013.

  12. James Eden (@jameseden) said on 14th December 2012, 18:37

    Anyone know how you’d go about buying an old HRT F1 car? Could all chip in and introduce the F1Fanatic Formula 1 team ;D

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