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Toyota severs all ties with 'surprised' HRT

Toyota has dashed what had looked to be heading towards a collaboration with troubled F1 2010 newcomer Hispania Racing (HRT) due to unpaid bills
Only a day after it appeared that struggling F1 2010 newcomer Hispania Racing (HRT) was edging closer to a deal to use the stillborn Toyota TF110 chassis' in the top flight next season, the Japanese manufacturer's Cologne-based motorsport division has announced that it has severed all ties with the financially-troubled Spanish outfit due to unpaid bills.

Confirmation was reportedly due today (Monday) that HRT and Toyota had gone into partnership together, with the former to benefit from not only the non-raced cars but also two state-of-the-art wind tunnels and more than 100 employees [see separate story – click here]. Now, however, it appears that is no longer the case.

'Toyota Motorsport GmbH (TMG) confirms that all co-operation with Hispania Racing F1 Team (HRT) has been terminated and will not resume,' reads a statement. 'TMG retains all intellectual property rights to its current F1 car and is completely free to pursue other projects and support new customers for its high-performance engineering services.

'TMG regrets that HRT has not met its contractual payment obligations, and will pursue all available options to reach a satisfactory conclusion to this matter.'

'Hispania Racing is very surprised about Toyota's press statement released this afternoon,' added a response from HRT. 'This matter will be a subject of further clarification.'




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P1 - Unregistered

November 16, 2010 1:14 AM

Shock horror as failing skint Spanish racing team fails to pay bill, good riddance to bad rubbish really complete joke of a team.



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