Hispania F1 taken over by Spain`s Thesan Capital

London: Spanish investment firm Thesan Capital has taken over Formula One tail-enders Hispania (HRT), the cash-strapped team said in a statement on Monday.

They said Thesan will be the majority shareholder of Grupo Inversor Hispania, run by current team owner Jose Ramon Carabante.

"Thesan Capital thus becomes the controlling shareholder of the Spanish Formula One team," it added.

"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."

HRT said Thesan aimed to make the team progressively more Spanish with a base in Spain.

This year`s car was built at a facility in Greding in Germany, near to team principal Colin Kolles`s Bavarian headquarters.

Hispania have yet to score a point in Formula One since making their debut in the sport last year.

Their driver line-up for Sunday`s Australian Grand Prix is Italian Vitantonio Liuzzi and Australian Daniel Ricciardo, the former Toro Rosso reserve making his race debut in the place of Indian Narain Karthikeyan.

The team finished last season 11th of the 12 teams.

Bureau Report

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