HRT set to close their doors next week....Report

It has been reported on Twitter today that the HRT GrandPrix outfit will close it's doors on Monday following this weekend's season finale the Brazilian GrandPrix. According to James Allen's F1 website there are apparently only eight members of the team left working in their Madrid HQ and they have been handed redundancy notice's. The team's owner's Thesan Capital announced last week in the vuild up to the US GrandPrix that they had put the team up for sale.

It was also reported that the if a buyer wasn't found by 2nd December the team would be forced to close. According to reports coming from Spanish media the eight employee's and the team members in Brazil are the only people left in the country.

I understood that there were a number of interested parties in purchasing the team but apparently that is not the case. Apparently, the reason for the team closing on Monday is so that they can participate in the Brazilian GrandPrix because if they do not compete in the race they will be subject to huge fines from Bernie Ecclestone, Formula One's commercial right's holder.

It is terrible that we are on the verge of losing a Formula One team, however in my opinion, HRT were never really in a position to compete in the sport. When they arrived at the first race of the season in 2010 their car wasn't ready and they hadn't tested it they also failed to qualify for the race.

With the Marussia F1 Team when they started in F1 in 2010 they were called Virgin Racing and were part owned by the Virgin Group and Richarf Branson. The team are now called Marussia F1 and are owned by a Russian car company.

Likewise with Caterham F1, when they came into F1 in 2010 they raced under the Lotus name, however they lost a legal challenge last year and are no longer allowed to race under the Lotus name. Lotus are now what used to be the Renault team and the 'new team' owned by Air Asia's Tony Fernandes and rebranded it Caterham F1 for this season after purchasing Caterham Cars.

So there is an extremely high possibility that we will just have 11 team's on the grid next season so we shall have to wait and see how this story develops over the next couple of day's particularly over the Brazilian GP weekend.