HRT secures new partner
HRT has secured a new investor in former Telefonica president Juan Villalonga, who is set to partner current owner Jose Ramon Carabante to ensure the team's future.
A team statement said: "The immediate aim is to be able to have a much more competitive team," and added that Carabante and Villalonga have met with F1's CEO Bernie Ecclestone to outline their plans for the future of the team.
Carabante said the money involved "is a sum that multiplies and enhances our ability to grow as a team". He added: "We will substantially strengthen our ability to generate innovative activities in marketing and sponsorship with his incorporation.
"We will also be able to make the best of his leadership, knowledge and relationships in the fields of Technology and Communications, and therefore be able to fully exploit the opportunities we are given after this tough first year".
The announcement comes amid rumours that the team is planning to secure a deal with Toyota to use its unraced 2010 chassis in 2011 and supply the team technical support.
Villalonga said: "Formula One is always associated with innovation, research and technology, and Hispania Racing must be represented on that level, with a stable leadership.
He added: "The key is the quality and not the quantity of sponsors", and that his immediate goal is to help "develop new relationships with them, leading to the creation of more value for all implicated parts".
Credit: ESPN F1
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