Nov.6 (GMM) HRT on Saturday morning confirmed reports the struggling Spanish team has agreed a deal with a new investor.

In a media statement, the team said former Telefonica president Juan Villalonga is partnering with Hispania's owner Jose Ramon Carabante.

"The immediate aim is to be able to have a much more competitive team," the statement read.

And Carabante said the money involved "is a sum that multiplies and enhances our ability to grow as a team".

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