Feb.14 (GMM) Assets of the newly-defunct formula one team HRT have been bought.

Spain's AS newspaper reports that Teo Martin, a well-known automotive component recycler, has bought most of the valuable parts left over in the wake of the Spanish team's demise.

The report said HRT's rented headquarters in Madrid are "already dismantled, deserted and silent".

Teo Martin has apparently bought the 2011 and 2012 single seaters, a show car, a truck, tools, machinery, furniture and other assets.

"In short, everything that can be recycled and sold that was still in HRT's possession (has been sold)," read the AS newspaper report.

The sold assets did not include the 2012 engines, which have been returned to Cosworth, or the gearboxes, which were rented from Williams.

"The amount of the transaction is not known," added AS.

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