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Toyota terminates contract with Hispania HRT over non-payment

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Hispania HRT F1 Team

Got the following statement from Toyota’s Media Centre :

Monday 15 November 2010

COLOGNE, Germany – Toyota Motorsport GmbH (TMG) confirms that all cooperation with Hispania Racing F1 Team (HRT) has been terminated and will not resume.

TMG retains all intellectual property rights to its current F1 car and is completely free to pursue other projects and support new customers for its high-performance engineering services.

TMG regrets that HRT has not met its contractual payment obligations and will pursue all available options to reach a satisfactory conclusion to this matter.

Doesn’t look like Happy Days ahead for Hispania, no more HRT in 2011, so will Toyota be woo-ing other constructors with their engineering services ?

Image courtesy : Hispania HRT F1 Team Media

Written by Formula One Addict

November 15th, 2010 at 8:51 pm

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