2011 Season, Formula 1 (F1) - HRT -

HRT admit financial problems

HRT boss, Jose Ramon Carabante has admitted that the Spanish team's failure to qualify under the 107% rule for the 2011 season opener in Australia last weekend was due to financial problems. With ESPNF1 quoting that Carabante insists that: "If we had the budget of the other teams, we would have come to the first race of the season with 3,000 kilometres under the belt." The team's failure to qualify in Melbourne last weekend goes completely against Carabante bullish prediction that by May it would be beating the other 2010 newcomers Lotus and Virgin. "Like last year, we began the development of the car too late due to the budget," Carabante told Cadena Ser radio. "We were closing [sponsor] agreements that in the end did not come." He added a technical deal regarding 2011 with Toyota was "broken" at a late stage: "So we set a realistic goal with the budget that we had." The Hispania F1 boss also revealed that the Spanish team's budget for the 2011 season is €45 million, adding that the team's showing in Australia was an achievement. "We did 11 laps with Liuzzi. If he had done 20, he would have qualified. Getting within 1.7 seconds without driving hardly at all is a miracle." The team now plans to have its 2011-spec nose on the car for the Malaysian GP, and a whole "new aerodynamic package" will be fitted for May's Spanish Grand Prix, which Carabante believes "will be enough to be ahead of Lotus and Virgin. "Last year we were in a worse condition than now and we ended up ahead of Virgin with twice our budget, and behind Lotus due only to one accident."

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