autoevolution
 

Hispania Struggles Financially Before Australia Opener

Hispania Racing F1 Team is struggling with major financial problems before the start of the 2011 Formula 1 season, according to some internal sources quoted by a specialized website, as reported by the GMM news agency.

The Spanish team has been the only one on the FIA entry list not to test their challenger in pre-season testing, arguing a couple of weeks back in Barcelona that some of their parts being held in custom had prevented them from giving the HRT F111 some track time at Circuit de Catalunya.

However, according to the new info provided by an unnamed source from within the organization – which makes more sense, if you ask us – the problems rest elsewhere. It's in the team's bank accounts. It seems that some major parts of the car, such as the front and rear wing, are still being developed with only a few days left before the race in Melbourne.

People with half a brain can understand what is going on,” said the source. “We engineers have gone unpaid for two months. Five engineers have quit already. That we could not test due to dampers being in customs is of course nonsense.”

Everything is transported by truck from Germany. And it was not just the suspension that was not there, it was a big list of missing parts,” added the source.

While the team's business affairs boss Manfredi Ravetto denied the claims in the Spanish media, the report coincides with Ecclestone's visit to Spain recently, where he is linked with an attempt to salvage the team from bankruptcy.

Although they haven't been able to test the car for a single mile this winter, Hispania insisted they will be on the grid of the Australian GP – well, maybe in qualifying, but the 107 percent rule might give them some headaches for the Aussie race entry – through team owner Jose Ramon Carabante.

It is certain that we will be in Australia and race there,” he said last week.
If you liked the article, please follow us:  Google News icon Google News Youtube Instagram
 

Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories