HRT Formula 1 team is up for sale

HRT Formula One team is up for sale, its owners Thesan Capital has announced 16 months after buying a majority stake in the Spanish outfit from Jose Ramon Carabante.

HRT are yet to score a point since joining F1 in 2010. The owners are hoping to find new investors in the coming weeks.

"The current owners of HRT want to confirm they are holding talks with several groups interested in buying the team. They hope to close the sale agreement over the coming weeks and allow the team to move forward," read a statement on HRT's website.

"We believe the moment to let new investors come through for HRT has arrived.

"We're convinced that the sporting potential of the team is huge and that the presence of new investors can give it a big boost," the statement added.

The team is currently 12th in the constructor standings, having finished 11th in the first two seasons. Its drivers are India's Narain Karthikeyan and the experienced Pedro de la Rosa of Spain.