Hispania Racing Going Bankrupt?

Hispania Racing F1 Team is on the brink of collapse. According to the latest reports in Spain, it seems that the squad owned by Jose Ramon Carabante might not make it to the season opener in Bahrain next season. That is unless a miracle happens or some investor decides to pump money into a white elephant such as this one-year old F1 organization.

Earlier this year, it emerged that the Spanish team was very close to inking a technological deal with Toyota Motorsport for the use of their unraced TF110 single-seater, F1 technology and part of their Cologne factory. The deal was eventually scrapped due to lateness in payments from HRT's part. The worst part about it was that, before that deal went off, HRT had also terminated their partnership with Dallara.

What this all means is that the team has no chassis for the 2011 season of Formula One, no sponsorship (as far as we know), no confirmed drivers and, basically, a very cloudy future.

“It is evident that if Carabante finds a buyer he will dispose of the team,” said a recent report from the Spanish sports newspaper AS.

Under the circumstances, the team's only prospect for 2011 remains to continue race the same 2010-spec car, only with some minor improvements. And it's not rocket science to figure out that this solution is actually equal to a signed and sealed death certificate for Carabante's squad, as the new 107 percent qualifying ruled introduced by the International Automobile Federation (FIA) for next year will likely keep both HRT drivers (whoever those might be) outside the F1 grid race in and race out.

We are not necessarily in a hurry, the deadline is three days before the first race,” said team principal Colin Kolles about his future lineup for 2011, according to Italian website “The 2011 car? We will have one. And we are in the process of manufacturing it.”

One can feel the confidence from miles away...
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