Toyota Motorsports GmbH (TMG) has announced that, it had terminated its deal with the Hispania Racing Team.
As previous reports suggest that, HRT – TOYOTA tie-up was to use technical support from TMG, use of two wind tunnels and over 100 staff.
But, TMG released a press statement, as-
“Toyota Motorsport GmbH confirms that all cooperation 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.”
In response to TMG statement HRT says,
“Hispania Racing is very surprised about Toyota’s Press Statement and this matter will be a subject of further clarification.”