Formula 1 News

Thesan Capital new owner of Hispania Racing

HRT will get a capital infusion that will provide more stability and higher competitiveness in the long run.
Monday, July 4, 2011

The Hispania Racing Team (HRT)has announced that Thesan Capital has acquired its operations after the investment company became the majority shareholder of Grupo Inversor Hispania, the holding company of the Murcia-based Formula 1 squad.

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The acquisition leaves José Ramón Carabante without any controlling interests in the Spanish outfit, although it confirmed that it would maintain the current team and directors, which it said were “one of the main assets of the company.”

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The buyout confirmation comes shortly after a selection of rumors began to circulate which linked the squad with Japanese banks.

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The team commented through an official statement the following: “The Spanish investment group will lead the development of Hispania Racing in the upcoming years, maintaining the current team and directors, which is one of the main assets of the company, and will try to develop and search for opportunities to optimise and improve the performance of the team in the upcoming seasons, alongside progressively making the team more Spanish and definitively settling the team in Spain,’ reads an official statement.
Founded in 2008, Thesan Capital provides financial support and restructures in companies, which require strategic reshuffles. ‘The firm has ample experience in complex and special situations,’ the statement sums up.

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Also, Thesan Capital considers the take over as a prospect of growth and will work with the aim of "strengthening the strategic management of the group.”

HRT, which is yet to score a point in the sport since its debut, had earlier entered into collaboration with Red Bull Racing, announcing Daniel Ricciardo as one of its drivers for the season. The Aussie will race along Vitantonio Liuzzi for the remainder of the season, with the exception of the India ran Prix where Karthikeyan will take the wheels again in front of his crowd.

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