HRT Fails to Meet Payment Deadline for 2013 Season

The Hispania Racing TeamHispania Racing TeamSpain, 2009 > present1 model
29 photos
failed to pay its entry fee for the 2013 Formula 1 season and has failed to find a buyer. Unless a buyer can be found very quickly, the team will be shuttered, and the Formula 1 grid will drop to 22 cars. 

HRT has placed much of its equipment up for sale so that it can close the team without debt. 

Chinese auto company CheryCheryChina, 1997 > present7 models
18 photos
reportedly looked into buying the company but decided not to. 

HRT was launched in 2010 as the Campos Meta team but had to be bailed out before it even began racing. The name was changed to Hispania Racing. It used a modified DallaraDallaraItaly, 1972 > present3 models
4 photos
chassis and a Cosworth engine for the 2010 season. Thesan Capital bought the team in 2011 and switched to its own chassis for the season but stuck with Cosworth power. This year the team moved to a new headquarters outside of Madrid.

The team never scored a point in Formula 1 but was 11th out of 12 teams in the World Constructors’' Championship in 2010 and 2011. The team's best ever finish was when Vitantonio Liuzzi finished 13th in the 2011 Turkish Grand Prix.

Source: Autosport