HRT Owner Insists Team Will Start Australian GP

A year has passed since Hispania Racing F1 Team made its debut in Formula 1, yet several similarities with their first campaign in the series point out that the Spanish squad hasn't learnt a great deal from their past failures.

After beginning their first F1 season without a single day of testing in 2010, the team owned by Spanish businessman Jose Ramon Carabante will do exactly the same this year, as their newly-launched F111 was unable to take to the track during last week's group test in Barcelona.

Nevertheless, Carabante fended off rumors that the team will not make the grid of the season opening Australian Grand Prix two weekends from now, while admitting that finishing the race would however be seen as a performance, no matter the position.

“It is certain that we will be in Australia and race there,” said the Spaniard according to a report from El Pais newspaper. “Maybe we will not finish the first race, we'll see, but the car will develop from here with the clear aim of fighting with and beating the other two teams that started last year,” he added.

As far as their budget for the new season goes, media reports have hinted that we're dealing with EUR 45 million for the entire season, but their is a tweak to it all. Apparently, the team's officials are still negotiating with some important sponsors for the 2011 F1 championship, only only if those deals are signed the aforementioned budget will be covered.

“We are negotiating with several sponsors,” confirmed Carabante. According to the GMM news agency, should the team fail in those negotiations, the owner will contribute to his team's budget out of his own pocket.