F1 » Supplier hits out at HRT


Formtech Composites hits out at HRT over what it claims are 'misleading information tactics' relating to plans to close down the Spanish F1 team

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KGBVD - Unregistered

December 10, 2012 7:28 PM

Crooks.

I have never been more glad to see a team go. These guys were amateurs and had absolutely no right being in F1. (Thanks for that, Max, so much better than having a manufacturer-backed Prodrive entry!)

"Good riddance to bad rubbish" has never applied more - that team was trash.

Damien IE - Unregistered

December 10, 2012 11:24 PM

Whats in it for anyone or any financial fund to invest in building an F1 team, run up huge credit then go bang.

Is this the right image & practise Bernie Ecclestone wants in his playpen ?

An F1 team has to be a manufacturer or an engineering spin off that can sell what they invent through the sport. McLaren did F1 but we probably won't even know all their involvement with car industry and others before they built their 1sr road car. Williams seel their KERS tech and wasn't that in the Le Mans winning Audi's

Red Bull is a billionaire's hobby but at least he has the cash and enthusiasm for the sport - well all the advertising he gets is probably a lot cheaper thru F1.

Doesn't make sense all that bull**** to get into a sport only to make a mess and exit under a cloud.

Bernie should get a CASH deposit up front from every team competing to cover any bul**

Mr_Sarkasm - Unregistered

December 11, 2012 1:25 AM

Well I think they should consider themselves lucky.
If they indeed received a full 25% of the debt , and will receive 30% of the remaining debt then they will be far better off than those who will be stuck with 30% of a full debt.

sodesu - Unregistered

December 11, 2012 9:41 AM

There never really was a factory-backed Prodrive entry, they were always conditional on rule changes that never happened. And at the time people were upset that Lola didn't get the chance too, well Lola went bust before HRT even without the investment burden of running an F1 team.

Complain as much as you like but you can't just choose who enters, and the end result will just be one team less on the grid. And to put things in perspective, have a look at the F1 Rejects site before labelling them as useluss failures, worst team ever and whatever else it is they have been called. F1 as a whole is on a higher level now than ever and they were after all on the grid in all but two races for three full season. That actually makes them quite successful compared to many others in the past.

Interestingly though, Formtech themselves were among the rejected entries in 2010. They are in fact the current operators of the former Arrows/Super Aguri facilities.

jefemano - Unregistered

December 11, 2012 4:44 PM

With all due respect, in my opinion, It seem to that the press is once again acting on impulse instead getting their facts together, or if the facts are as described here and as reported by Formtech Composites, I find them either very unprofessional, even stupid to trade with international clients without bonds and /or any payment guaranties ( usually provided by clients' own Banks, governments, etc. ,
In the other hand it might be that they just realised the made an error of judgement and now due to their stupidity are leaking their wounds, in any case, if they are suspicious that HRTF1 team mislead them or were up to not good, I am sure their legal team could had easily lodge a formal complaint via the Spanish Consulate or representatives of the Spanish Chamber of Commerce in London, or had already lodged a formal complaint directly with the Spanish Courts or Government's own Trade protection association in Madrid, but in any case d before going to the pres

Dangerous Dave - Unregistered

December 11, 2012 6:41 PM

The legacy of unpaid debts in F1 is the same all over motorsport, right down to club level. The only way this can be avoided is either by payment upfront, or having a structure whereby the Team principles are fully and unconditionally liable for all debts and supply a bond to cover this eventuality, regardless of which company or nationality they hide behind. In the absence of this stipulation, these problems will always remain, and as such it will remain a high risk business for any supplier to Motorsport in general!!

Josh - Unregistered

December 12, 2012 5:54 AM

"I have never been more glad to see a team go. These guys were amateurs and had absolutely no right being in F1."

If it's so easy, why don't you go and try running an F1 team for three seasons?

HRT were hundreds of times better than a lot of the privateer teams from the 80's and 90's, but no one ever gives them the credit they deserve. There may have been no breakthrough but they gave it a go and for the most part stayed within 107%. Amateurs... yeah right... let's see you do better on a shoestring budget mate...

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