The team is owned by the controversial self-made multi-millionaire Francisco Hernando, better known in Spain as “el pocero.” (“The Sewer Digger” or “The Well Digger,” a nickname that comes from his humble beginnings.)
Gibernau, coming back at 36 after two years of inactivity, has been slowed from the beginning by old injuries, new injuries, and a general unfamiliarity with the current level of electronics. Sete, runner-up to Valentino Rossi in MotoGP in 2003 and 2004, won nine premier class races, one on a 500 Suzuki in 2001 and the other eight on the 990cc Honda RC211V.
Apparently Hernando, whose construction companies are incurring serious
losses due to the financial crisis, made no attempt to find a team sponsor because he wanted to be free to withdraw at any time.
Gibernau claimed to be surprised by the news, but it was known before the U.S. Grand Prix that the team was for sale. With no serious buyers stepping forward, Hernando announced on Sunday, July 12th, that the team will stop racing immediately. This news came just a week before the German Grand Prix.
Gibernau took part in six MotoGP races and missed two after breaking a collarbone at the French GP at Le Mans. He is currently 17th in the points standings and his best result was an eleventh place at Jerez de la Frontera.
There has been no reaction from Dorna, the series promoters, other than to publish the news on the official championship website.
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