Tag Archives: eur

HRT wants EUR 40m for dying F1 team

Thesan Capital are seeking € 40 million for the struggling backmarker HRT, according to the Spanish sports daily AS.

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Image Credit: sportinglife.com

The newspaper also revealed that talks with potential buyers from India and Abu Dhabi are underway.

“the time has come for the team to continue growing with new financial backing”.

Rumours suggest that the team were in the process of sacking more than 30 employees, and needed a buyer before the first days of December to survive.

HRT engineers are concerned that Pedro de la Rosa and Narain Karthikeyan are being put into races at the wheel of unsafe HRT cars.

Indeed, at the most recent grands prix in Abu Dhabi and India, Karthikeyan and de la Rosa respectively retired in spectacular style with fundamental technical failures.

Pedro De la Rosa crashed due to brake failure, while Mercedes’ Nico Rosberg was sent airborne when Karthikeyan slowed because his steering wheel “locked solid”.

“Narain told me that his steering broke,” said Rosberg, “and he needed to brake which I didn’t expect in a high speed corner.”

AS suggests that HRT has considered simply withdrawing from the 2012 championship, but is pushing ahead for now due to its commitment to the Concorde Agreement.

According to the report, HRT was hoping its association with Chinese reserve driver Ma Qinghua would bear fruit.

Chief executive Saul Ruiz de Marcos reportedly wrote a letter to China’s motor racing federation, saying Ma would make his F1 debut in 2013 if he could bring EUR 30 million in backing.

Source: Spanish Daily AS and F1zone.net

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Red Bull spent EUR 245m for 2011 title

Red Bull has the standout budget among F1′s UK-based teams, according to Germany’s Auto Motor und Sport.

Citing British companies data, the magazine said Red Bull Technology – the Red Bull Racing parent – had a budget of EUR 245 million in 2011 as Sebastian Vettel sped to his back-to-back drivers’ world championship.

Auto Motor und Sport said Red Bull’s budget last year was EUR 42 million higher than in 2010.

Brackley based Mercedes, meanwhile, reportedly spent just EUR 145 million in 2011 — a full EUR 100 million less than Red Bull.

Lotus’ 2011 budget was a reported EUR 155m, compared to Williams’ 111m.

McLaren’s figures are pending.

But the news about Red Bull coincides with a fresh wave of speculation in the paddock about the energy drink-owned team’s defiance in the face of the teams-governed Resource Restriction Agreement (RRA).

McLaren’s Martin Whitmarsh, however, fell short of accusing Red Bull of cheating.

“If they are ahead of us, it’s because they’ve done the better job,” he said.

 

Source: F1zone.net