Hispania Racing Team boss Colin Kolles has played down paddock rumours that the Spanish team is on the verge of collapse.

The new Spanish outfit has struggled with the slowest car in 2010, and the rumour at Monza was that the Cosworth engines were set to fall silent due to unpaid bills to the British company.

Colin Kolles (Photo: Hispania Racing Team)

"We discussed our budget in Italy and it was approved," Kolles is quoted by the French language L'Équipe website.

"The bill for the engines has been paid for to the end of the season. I think we are in better shape than some others," said Kolles to Motorsport-total.com.

Hours later, Italian web site 422race.com wrote that Hispania would survive until the end of the current season on money granted by Bernie Ecclestone's funds. And Mr Ecclestone does not want to lose the money he’s investing in.

422race.com now says that the possible merge between Hispania and Epsilon Euskadi, was a joke. The site pretends that Epsilon Euskadi's F1 project was never more than smoke in the eyes.

“Sources close to Epsilon reveal that the car project was made by a contest among the Spanish engineering students and the wind tunnel model was a slight modification of an old World Series by Renault car,” the site suggests.

422race.com says that the real future of the team goes by a partnership with Toyota. The Cologne factory of Toyota has also been linked to Lotus in the last few days, but sources from the team commented: "Toyota and Lotus? Not in a million years. We are still talking to Hispania Racing Team."

As far as founding in concerned, the web site says that Colin Kolles seems to have found a group of Serbian and Czech entrepreneurs to sell the team to at the end of the season. According to what 422race.com has learned, among them is again Zoran Stefanovic, who failed to enter F1 with his Stefan GP project.