Having looked up the rules the date for full payment of 2013 entry fees is close of business on 30/12/2012. I don't think the FIA take late payments. So unless HRT have deposited the $500 000 into the FIA's Belize, Swiss/ Cayman Island ( delete as appropriate) account the game is up.Petroltorque wrote:30th November 2012 is the deadline for entry including payment of $500 000. I think you can submit a late entry but it then becomes subject to FIA ratification and a hefty penalty.
Ratification means the FIA may deem your entry not up to standard.
On a less flippant note I've tried to find an explanation as to this years abject failure for the team; the answer that keeps coming up is a lack of money. I know some people are keen to blame the lack of a budget cap but I don't think Theasn's budget for this year was anywhere near euro 50 million.
I feel Ruiz De Marcos' instincts as an investment Banker came to the fore. It sounds incredible but he probably calculated that it's actually cheaper to run a shell operation fron Spain. They would not have to pay the cost of Kolles' fully equiped German operation and he gave chassis construction to the lowest bidder. He could run with less staff and operate a turnkey
operation. In Market terms Ruiz de Marcos bought HRT at a spot price hoping its future value would rise with minimal investment.
As often is the case with a lot of these deals 'the market was against us' is the catch all excuse. What's actually there for any potential investor to purchase defeats me but if he's a good enough salesman he could con someone into buying it, and we all know how good Bankers are at selling valueless commodities
