Sep.9 (GMM/Inautonews.com) Spanish oil company Cepsa is not buying Toro Rosso, team boss Franz Tost insisted ahead of the Italian grand prix.
Before arriving at Monza, the Red Bull-owned team confirmed new sponsorship deals with Cepsa as well as Nova Chemicals, which is also linked with Abu Dhabi’s International Petroleum Investment Company (IPIC).
IPIC is also linked with Aabar, the part-owner of Mercedes GP, triggering speculation Toro Rosso might also be changing hands.
The rumours said Abu Dhabi wants to relaunch Toro Rosso as ‘Team UAE’ (United Arab Emirates) and relocate it from Faenza to Abu Dhabi’s Yas circuit.
According to The National newspaper, Tost insisted: “These companies are sponsors, not investors or shareholders in the Toro Rosso team.”
He said the Yas relocation stories are “fanciful” not only for logistical reasons but because Toro Rosso has “already started” to upgrade its existing factory.