10/12/2010
NEWS STORY
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The Hispania F1 team has denied speculation that it is up for sale.
The move follows a report in the Spanish sports newspaper As today which claims that Jose Ramon Carabante (above) and his partners have put the team up for sale. According to the report, following the 'split' with Toyota, the Spanish outfit has been left with "no car, no base, no drivers, no sponsors... only a Cosworth engine.
"It is evident that if Carabante finds a buyer he will dispose of the team," adds the article.
However, the team was quick to deny the claim, a spokeswoman saying: "The team is not on sale, we are working for 2011. Mr Carabante is working on getting sponsors and investors. One Spanish group is interested in joining the team but things are not so easy nowadays in the world."
In early November, the team announced that former Telefonica boss Juan Villalonga had joined, however, just over a week later came the news that Toyota Motorsport was severing all ties with the Spanish outfit.