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HRT boss denies team in financial trouble

Colin Kolles dismisses rumours of HRT's financial instability © Sutton Images

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HRT team principal Colin Kolles has dismissed rumours suggesting the team's immediate future is in doubt and remains positive his team will see out the 2010 season.

After issues relating to the team's financial situation were raised, the possibility that HRT might have to withdraw from Formula One seemed possible. However Kolles has confirmed that the engine bill for the rest of the season has been paid, making it more likely that HRT will remain on the grid until the end of 2010.

"The engine bill is paid. It is paid in full for the whole year, the same as with the rest," Kolles told Autosport. "I think actually we are in a better financial situation than many others. That we need more money is very clear, that is nothing to deny, but there are others who have many more debts and many more creditors than we have.

"We have to pay everything up front, so the moment we are not running that means we have not paid. So, as long as we are running, we have paid. This situation has to change, because this has nothing to do with normal business. Every company has certain payment terms - but this is a matter of trust and confidence."

Kolles moved to deflect attention away from HRT by claiming his team is in a stronger financial position than other members of the F1 grid.

"We will see who will finish the season and who doesn't finish the season," he said. "And we will see who will be on the grid next year and who isn't on the grid next year. I am used to this."

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