Sep.16 (GMM/Inautonews.com) HRT is set to select the port of Valencia as its new headquarters, according to the Spanish sports daily Marca.

The newspaper said the back-of-the-grid Spanish team is targeting the harbourside site recently occupied by the BMW Oracle yacht racing outfit.

Warning that the deal “is not done yet”, Marca said HRT chose Valencia, the scene of the annual European grand prix, over other frontrunners including Madrid and Barcelona, and the factory of the sports car team Epsilon Euskadi.

The report said HRT’s new owner Thesan Capital is providing an initial budget of EUR 200 million.

The team is expected to maintain its new wind tunnel relationship with Brackley based Mercedes GP, amid reports of a possible split with technical boss Geoff Willis.

On the Willis rumours, HRT has been contacted for comment.