HRT hopes to replace phony sponsor logos soon

HRT owner Jose Ramon Carabante has vowed to solve the awkward situation whereby phantom ’sponsors’ adorn the Spanish team’s 2011 car.

The F111 was launched with logos featuring enticements to potential backers, including ’This could you be you’, ’Your logo’ and ’This is a cool spot’.

"We’re still alive, which in these times is no small feat," Carabante told the financial news agency Bloomberg. "The car’s message is striking but we hope it disappears soon."

59-year-old Carabante, who revealed his team receives $10 million annually from the F1 television rights, said he is in talks with two potential Spanish sponsors but he would not identify them.

He also said HRT’s staff is fully committed.

"When we need to work 10 hours instead of eight they do it," he insisted. "If they have to work 24 hours a day, then they do that too."