HRT F1 TEAM FOR SALE

The HRT F1 team which Narain Karthikeyan drives for has been put up for sale by its owners Thesan Capital SL. It is understood that the team is in severe budget crisis to continue for next year until anyone buys it. HRT F1 Team remains the most low budget team in the F1 season for the past two years and have managed to be consistent in most races by completeing the races without any mechanical failures barring a few compared to 2011.

Indian driver Narain Karthikeyan was supported by Tata Group, Tata Motors and more recently Tata Tea, who were the main sponsors for the HRT Team this year.

The fate of the team will be known in couple of weeks whether they carry on next year or completely shutdown operations to avoid further debts if no buyer has turned in. The big question is who will buy the team?

The team´s official statement read:

"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."