Monteiro buys GP2 team

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Former F1 driver Tiago Monteiro's company has bought the BCN Competicion GP2 team. Monteiro, together with business man Jose Manuel Guedes and Tiago's manager Edmar Monteiro, have renamed the team Ocean Racing Technology. It is the first ever Portuguese squad to compete in GP2.

Monteiro said: "This is a step I have always wanted to make in my professional career but I would have never imagined taking it this early. We had the opportunity and we worked on the financial aspect of the project, then we started negotiations.

"The management of a race team is fascinating because not only do you need to have a good knowledge of what can happen on track but you also need to have some skills in the business. The GP2 Series is the ideal platform because it is very close to Formula One."

The team is still hiring technical staff and is looking into a possible driver line-up for 2009, but nothing is concrete at the moment.

Related newsarticle:
Monteiro in talks to become GP2 team owner