HRT Buyout Confirmed

HRT Buyout Confirmed

5 July 2011

Just a quick update following on from yesterdays story, this morning it has been confirmed that Hispania Racing has sold a majority sharehold to Spanish venture capital firm Thesan Capital.

As I mentioned yesterday, the Japanese bank Nomura invested €200 million in Thesan Capital a few years ago with the intention of the funds being used to acquire Spanish companies in crisis. Thesan, which was formed in 2008 said they still will continue to run the team with great prospects of growing and will work to strengthen HRT and provide them more Spanish character. It seems everyone is happy with this move and in an official statement released by the team they have said

The objective of Thesan Capital is to develop its strategy to grow in a market with a lot of potential for the upcoming years. The Spanish investment group will lead the development of Hispania Racing in the upcoming years, maintaining the current team and directors and will try to develop and search for opportunities to optimise and improve the performance of the team, alongside progressively making the team more Spanish and definitively settling the team in Spain.

This will hopefully be a positive change for team as so they have spent the majority of Formula 1 at the bottom so with this extra money it should allow them to take advantage of the opportunities available for them. We could begin to see good things from this team in the future, Watch this space.