FORUMula1.com - F1 Forum

[Frontrunner]

THE owner of Hispania Racing Team, José Ramón Carabante, sold his team to the Japanese investment bank Nomura Spanish website AS.com reported.
Official confirmation is yet to be released, but it is believed the team was sold for the equivalent of $32 million.

HRT have had a tumultuous season in 2011, beginning with their failure to qualify for the season-opening Australian Grand Prix in Melbourne.

West Australian rising star Daniel Ricciardo was given a race drive with HRT from the British Formula One Grand Prix onwards, replacing Indian driver Narain Karthikeyan.

Karthikeyan will resume driving duties once more in 2011, racing in front of his home crowd at the Indian Grand Prix.

The deal is not expected to immediately affect the running of the team, with both it's team name, and driver line up likely to remain the same.

[acosmichippo]

Cool. I'd like to see a Japanese team. Too bad it had to be HRT though. Would've rather seen Marussia/Virgin get sold off.

[myownalias]

We had a Japanese team (Super Aguri) a few years back and it lasted just over two seasons before folding. I'm very sceptical abut banks owning F1 teams; clearly they don't have too much interest in F1; it's simply a marketing exercise or even a money making exercise which would me that the profit would not be used to push the team forward... that's my take on bank ownership!

[darwin dali]

We had a Japanese team (Super Aguri) a few years back and it lasted just over two seasons before folding. I'm very sceptical abut banks owning F1 teams; clearly they don't have too much interest in F1; it's simply a marketing exercise or even a money making exercise which would me that the profit would not be used to push the team forward... that's my take on bank ownership!

We also had Toyota and Honda that lasted a bit longer

[myownalias]

We had a Japanese team (Super Aguri) a few years back and it lasted just over two seasons before folding. I'm very sceptical abut banks owning F1 teams; clearly they don't have too much interest in F1; it's simply a marketing exercise or even a money making exercise which would me that the profit would not be used to push the team forward... that's my take on bank ownership!

We also had Toyota and Honda that lasted a bit longer

I was referring to independents... but yes I didn't take into account, Honda/Toyota, probably because I see them as an international company!

[Jabberwocky]

But Super Aguri was Hondas B team, much like Torro Rosso is Redbulls B team.

Hasn't this turned out to be wrong and it is a Spanish fund bought it?

[darwin dali]

But Super Aguri was Hondas B team, much like Torro Rosso is Redbulls B team.

Hasn't this turned out to be wrong and it is a Spanish fund bought it?

Yes and no:
Spanish investment company Thesan Capital set up a "Special Situation Fund" (basically an equity fund) in 2008 with backing from Japanese bank Nomura to invest in undervalued opportunities in the Iberian market.

[What's Burning?]

But Super Aguri was Hondas B team, much like Torro Rosso is Redbulls B team.

Hasn't this turned out to be wrong and it is a Spanish fund bought it?

Yes and no:
Spanish investment company Thesan Capital set up a "Special Situation Fund" (basically an equity fund) in 2008 with backing from Japanese bank Nomura to invest in undervalued opportunities in the Iberian market.

That's exactly the way I go about shopping for manchego and chorizo.

[Jabberwocky]

I suppose it makes sense, why would you want Hispanic Racing Team owned by Japanese.