Hispania Racing has taken on new ownership in the form of a leading Spanish investment group.
Spanish investment group acquires majority shareholding
Thesan Capital has taken ownership of Formula One team Hispania Racing.
The Spanish investment group has acquired a majority shareholding in Grupo Inversor Hispania, previously the main shareholder of the team, from former owner Jose Ramon Carabante.
"The Spanish investment group will lead the development of Hispania Racing in the upcoming years, maintaining the current team and directors, which is one of the main assets of the company," read a statement on the team's website.
"It will try to develop and search for opportunities to optimise and improve the performance of the team in the upcoming seasons, alongside progressively making the team more Spanish and definitively settling the team in Spain.
"The Thesan Capital team, who consider the acquisition of Hispania Racing as an opportunity to enter a sector with great prospects of growing, will work with the aim of strengthening the strategic management of the group.
"The objective of Thesan Capital is maintaining the current team and to develop its strategy to grow in a market with a lot of potential for the upcoming years."
Hispania has struggled financially since making its debut in Formula One at the start of last season, with many suggesting the team would eventually fold.
However, this deal at least offers Hispania a more solid footing on which to progress in the future.
