HRT has revealed that it is pushing to sell the Spanish F1 team.

Before the official confirmation, it was reported by Spain's El Confidencial on Monday that the struggling team had dismissed 32 employees, and needed a buyer before December to avoid closure.

Narain Karthikeyan, HRT Formula One Team HRT
Narain Karthikeyan, HRT Formula One Team HRT

Photo by: xpb.cc

HRT, owned by Thesan Capital since last July, swiftly confirmed that it is "in talks with a number of groups interested in buying the team".

The media statement said Thesan wants to complete a deal within weeks, adding that "the time has come for the team to continue growing with new financial backing".

The new owners would be HRT's fourth since the team's inception in 2009.