Toro Rosso will likely have new owners by the time the Italian outfit arrives in the Monza paddock for the Italian Grand Prix if speculation is to be believed.
The Spanish media reports that International Petroleum Investment Company (IPIC) will have completed its takeover of the Red Bull sister team by late next week.
The signs that IPIC are becoming increasingly involved in the outfit have become more prominent race by race with Red Bull branding making way for Falcon Private Bank and Nova Chemical decals – two companies which are owned by or chaired by IPIC managing director, Khadem al-Qubaisi.
Reports also suggest that one of Spain’s largest companies, Compañía Española de Petróleos (CEPSA) will find its way onto the car in a prominent way for either the Italian weekend or Singapore weekend – CEPSA is wholly owned by IPIC after it purchased the remaining stock from Total.
Red Bull will maintain a stake in the team to ensure its junior drivers are promoted to race seats within the outfit, giving both Sebastien Buemi and Jaime Alguersuari a boost.
It is also believed that, with the owners being based in the United Arab Emirates, that the team will relocate to a new facility at the Yas Marina Circuit an could even be renamed Team UAE for the 2012 season.
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