The HRT F1 team could be sold to new owners before the end of this month, it has been announced.

The Madrid-based outfit was bought by Spanish venture capital firm Thesan Capital last summer. However, despite owning the squad for less than 16 months, a decision has already been taken to sell it on, with a statement confirming that intent put out today.

"The current owners of HRT Formula 1 Team, TC II S.a.rl., would like to confirm that they are currently in talks with a number of groups interested in buying the team," the team said on its official website.

"HRT Formula 1 Team's current management hopes to conclude the sale in the upcoming weeks and, with it, enable the team to continue progressing and become a reference in modern-day Formula 1 after the important achievements already accomplished in this 2012 season.

"HRT Formula 1 Team hopes to communicate the name of its new owner in the upcoming weeks.

"We believe the moment to let new investors come through for HRT Formula 1 Team has arrived," added HRT Formula 1 Team management.

"We're very proud of the work done by the entire team this year and of the excellent sporting evolution achieved but the time has come for the team to continue growing with new financial backing. We're convinced that the sporting potential of the team is huge and that the presence of new investors can give it a big boost".