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Hispania Racing boss Colin Kolles says the team is set to announce a financial backer that should ensure the future of the Spanish squad.

Formula 1 supremo Bernie Ecclestone suggested earlier today that the struggling team had found a backer to inject much-needed cash.

"I believe HRT, the people from Spain, have now got a guy that I know, a financial backer. If they have it, super. We need the teams if they are financially sound," Ecclestone told Reuters.

Kolles said an announcement is expected "very soon".

"There should be some release very soon. I think Mr Ecclestone knows what he is saying," Kolles told the news agency.

"I think that people will realise what is the potential of this partnership. I think in the next couple of days there will be a few big announcements."

The team, making its Formula 1 debut this season, announced earlier this week a deal to use gearboxes from Williams in 2011.

