F1 » HRT sold to Japanese investment bank?


According to reports in the team's homeland, struggling Spanish F1 tail-ender Hispania Racing (HRT) has been sold to a Japanese investment bank

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oldtimer - Unregistered

July 04, 2011 12:14 PM

If this is true it is good news for FI. Together with the news from Marussia Virgin Racing it will mean that the two weakest teams will have a real chance to improve and compete rather than just taking part. Hopefully more new teams will be allowed in provided that they have the correct amount of funding. How about it Prodrive?

elijah - Unregistered

July 04, 2011 12:20 PM

This is good news for HRT .Most banks as we have all seen have more money then sense so a cash=performance boost for HRT should leave Virgin in their wake . Branson' policy of giving Virgin a pittance will keep them at the bottom of the ladder. They might as well throw in the towel .

Calvin _

July 04, 2011 12:52 PM

I tend to look at things the other way around. Why would a Japanese investment bank, or any investment bank, want to buy HRT. They're not exactly setting the world on fire, nor do they have much potential to either. Just my opinion.

elijah - Unregistered

July 04, 2011 1:05 PM

@Calvin
Investment banks want to buy cheap and sell at a profit. The only way they can do this is by pumping cash in to get the performance out hence improved results and therefore much higher asset value before a resale for profit. This has to be good for HRT .

Taz - Unregistered

July 04, 2011 1:18 PM

@elijah

The investment required to make a decent return is substancial and look at Toyota, through a wedge of cash at it and got no return, to say it's high rish is an minor understatment and banks don't do high risk.....anymore

Taz - Unregistered

July 04, 2011 1:20 PM

I meant to say was:

"
The investment required to make a decent return is substantial and look at Toyota, through a wedge of cash at it and got no return, to say it's high risk is an minor understatement and banks don't do high risk.....anymore"

elijah - Unregistered

July 04, 2011 1:28 PM

@Taz
Investment banks do when the believe they can make a profit . The Japanese obviously think underfunded HRT can shine if funded properly. Up till now HRT have performed surprisingly well considering their tiny budget .

CommodoreS

July 04, 2011 1:38 PM

Taz I think the outcome will reveal a equity parnership with a resultant injection of needed capital. The team will also be supported by the Japanese Corporate sector.

It will be a win/win situation.

elijah - Unregistered

July 04, 2011 1:41 PM

"Auto Motor und Sport named HRT as the team with the smallest budget, €40 million, and lowest head count, 120. While the reigning champions Red Bull, spent €330m annually. The report also said Virgin had €60m budget operating with 220 employees whilst Lotus ran on €70m and 240 staff. Williams, Force India and Toro Rosso are all running on almost €80m."

The Japanese obviously think underfunded HRT can shine if funded properly. Up till now HRT have performed surprisingly well considering their tiny budget .They can only get better .

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