HRT not on official 2013 Formula 1 entry list

Struggling Spanish team look set for exit after three years on the grid

Last Updated: 04/01/13 2:10pm

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There will be only 11 teams competing in Formula 1 next season as the official 2013 championship entry list does not include struggling Spanish-based HRT.

The 22-car list was published on the FIA's website after the expiry of a Friday deadline for teams to pay their entry fees.

Under the 2013 sporting regulations, Madrid-based HRT were required to pay entry fees of $500,000.

The owners of HRT, who have not scored a point in their three year existence, announced last month that the team was up for sale and talks were underway with various groups interested in buying them.

The team was founded by Spanish ex-Formula 1 driver Adrian Campos in 2010, when three new teams were invited to enter the championship, as Campos Meta but the outfit hit immediate financial trouble.

It was renamed Hispania in a rescue operation led by Murcia-based businessman Jose Ramon Carabante and Colin Kolles before being taken over by Thesan Capital in July last year.

The new owners decided to relocate the team to Madrid's 'Magic Box' in an attempt to create an identity as a Spanish national team.

But the move failed to attract new investment in the team with Spain hit hard by the financial recession.

The team finished last in the 2012 standings after a dismal year and it is believed they debated not competing at the Brazilian GP, as the team simply did not have the financial resources to replace parts on the car.

Japan's Super Aguri were the last Formula 1 team to fold, during the 2008 season due to financial problems.

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