As we mentioned yesterday, the meetings and efforts to resurrect the defunct HRT Formula One team were still ongoing and discussions were making progress. It is with sadness that we can confirm that those efforts have come to an end.
Sources involved have confirmed that efforts to save the team and field a car for 2013 were called off today after a key issue could not be resolved. We’ve speculated that his most likely had to do with the official FIA entry for the team which had expired late in 2012.
Securing a deal to acquire the assets of the team would have been an achievable goal but the legality of the entry due to timing and the political nature of the sport most likely prevented the salvation of the team. The FIA had commented that they were confident in their understanding that the official grid had been cemented back in November of 2012 when HRT failed to exercise their entry and proffer the required payment to do so.
While the team struggled for pace and progress over the years, it is a sad day for many who worked at HRT. So much for an American/Canadian team but I will say it was a very close situation which only had one issue that prevented it from happening. Much closer than anyone else was reporting.