It has been revealed that chassis used by the Spanish team in 2011 and 2012 have been sold to a Spanish scrap-dealer, while another has been bought by Pirelli for promotional purposes.

Reuters reports that Teo Martin, owner of the eponymous Madrid-based auto-recycling company, has bought most of the material assets of the Spanish team including three 2012 cars raced by Pedro de la Rosa and Narain Karthikeyan, two 2011 cars, one complete, a scale model of the 2012 car and most of the garage equipment. The engines and gearboxes however have been returned to their respective owners, Cosworth and Williams.

"The other 2011 car has gone to Pirelli," Martin told Reuters who were subsequently informed by the Italian tyre manufacturer that the car will be repainted in the company's black and yellow colours and used as a 'show car' at promotional events.

Owners Thesan Capital put the team up for sale in December, however it failed to find a buyer and as a result the team was duly omitted from the FIA's 2013 entry list and later reported to be in liquidation.

Formtech Composites, one of the team's suppliers and owed a substantial amount of money, recently claimed that the ownership of the team had been transferred to a Luxembourg-registered fund.

A sad end to the Spanish outfit.