F1 » OFFICIAL: HRT set to be sold

HRT confirms it is talks with a number of groups interested in buying the team

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David Chaste - Unregistered

November 13, 2012 7:54 AM

It's not HRT's fault it's in this situation. When the new teams joined in 2010 F1 was supposed to have a budget cap of $40 million per year, excluding drivers salary. However inthe off season right before the season started Ferrari McLaren, Mercedes and Red Bull flexed their muscles to object.

That caught out US F1 who never got off the ground and HRT. Those two teams are the only ones that didn't have major backers in place.

Virgin/F1 was backed by Richard Branson. So it's a given that if he wanted, he can actually outspend Dietrich Mateschitz.

Caterham at the time was backed by Lotus (who have since decided to rebrand Renault instead).

If the budget had been capped at $40 million would probably be doing o.k...but we'll never know.


November 13, 2012 8:26 AM

david. i am always surprised to see that some still believe that manor f1 was backed by virgin/branson. it wasnt! it was a guarantor for loans, in return for advertising. that is hardly backing the team, and any additional money that would have been needed would have to have been raised independently by wirth.

and also malaysia f1 were never backed by lotus group/proton, but they did give permission for their name to be used, as it would raise their profile .

so all in all, hrt were in the same position as manor and malaysia.

piercarlogassolini - Unregistered

November 13, 2012 10:27 AM

Most interesting thing for me will be the location of the newly-owned team. I don't believe there is a rule preventing relocation of an 'HQ', will we see another team drift back to Motorsport Valley?

HARLEY - Unregistered

November 13, 2012 11:06 AM

Was I the only one to hear the commentator say when Max chilton was testing on friday of the last G P that his mum and dad were there and were looking to buy into HRT.Google Grahame Chilton.

Harold - Unregistered

November 13, 2012 11:27 AM

I am all for diversity and wish all the smaller teams the best of luck.

I would much rather see a personnel cap of 100 staff per team and there be 20 different teams battling it out than watching 4 or 5 super teams outspend one another.

That circumstance would also allow much more opportunity for the technically gifted to ply their trade independent to huge monopolistic super teams.

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