Toyota Motorsport GmbH (TMG) today sent out a statement confirming that all cooperation with Hispania Racing 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.

Later today Hispania Racing F1 Team (HRT F1 Team) submitted  a statement saying: “Hispania Racing is very surprised about Toyota’s Press Statement released this afternoon and‎ this matter will be a subject of further clarification.”