The Hispania Racing Formula 1 Team and Toyota are close to a deal. Italian web site 422race.com can reveal that Jose Ramon Carabante's team will sign in the next few days the deal with the Cologne-based constructor following long negotiations during which it wasn't sure if the Spanish entrepreneur was in condition to find the finances to complete the deal.
According to sources close to the team, it now seems that Hispania will go ahead. After having divorced from Dallara, who produced this year’s car, the Spanish team was risking not to be able to survive until next year.
Together with the difficult economic times, serious doubts were surrounding the situation of the technical department of the team, which is not a genuine engineering department or a technical direction (with the exception for Geoff Willis, who is still a consultant) capable of designing a whole car for next year.
Thus the Spanish team needed an external help and the most logical name was Toyota. But the Japanese giant was negotiating with several companies for the usage of Cologne's huge factory and facilities (including Stefan GP), together with the experienced contracted staff and the designs for the TF110 car ready for 2010, which never raced due to the retirement of the Japanese marque.
Waiting for the money to arrive from Spain, Toyota meanwhile is again hiring engineers (by publishing announcements in motorsport publications in the last few weeks) and discussing with the contracted designers.
According to sources close to the team, it now seems that Hispania will go ahead. After having divorced from Dallara, who produced this year’s car, the Spanish team was risking not to be able to survive until next year.
Together with the difficult economic times, serious doubts were surrounding the situation of the technical department of the team, which is not a genuine engineering department or a technical direction (with the exception for Geoff Willis, who is still a consultant) capable of designing a whole car for next year.
Thus the Spanish team needed an external help and the most logical name was Toyota. But the Japanese giant was negotiating with several companies for the usage of Cologne's huge factory and facilities (including Stefan GP), together with the experienced contracted staff and the designs for the TF110 car ready for 2010, which never raced due to the retirement of the Japanese marque.
Waiting for the money to arrive from Spain, Toyota meanwhile is again hiring engineers (by publishing announcements in motorsport publications in the last few weeks) and discussing with the contracted designers.