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Old 11-15-2004, 05:43   #1 (permalink)
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Jag & Cosworth Sold

from: http://www.formula1.com/news/2425.html

Red Bull are new Jaguar owners
Energy drink manufacturers Red Bull have purchased the Jaguar Formula One team from Ford, it was confirmed on Monday.
Dietrich Mateschitz (AUT) Red Bull Boss. Formula One World Championship, Rd11, British Grand Prix, Race Day, Silverstone, England, 20 July 2003. World © Sutton The Austrian company, a sponsor in Formula One racing for many years, will take over the Milton-Keynes based squad and run it in the 2005 world championship.

In separate deal Cosworth has been sold by Ford to Kevin Kalkhoven and Gerald Forsythe, co-owners of the American Champ Car Series. The Red Bull Formula One team will continue using Cosworth engines in 2005, as will Minardi, with Ford maintaining a relationship with the engine manufacturer.

"I am really pleased that Red Bull has bought Jaguar Racing,” said the Ford Group’s Vice-President, Richard Parry-Jones. “Since we made the announcement to sell our F1 businesses in September we have received outstanding support from the management and employees at Jaguar Racing and we have worked very hard to secure a sale to a reputable buyer.

“Red Bull is a very successful business and has been extensively involved in F1 and global motorsport for over a decade. I am very pleased to announce this outcome".

Dietrich Mateschitz, founder and CEO of Red Bull, commented: "Our move to fully owning a Formula One race team makes good business sense for Red Bull. Add to this the opportunity of being directly involved in a sport and activity from which I derive great personal pleasure, then it is easy to understand how delighted I am to have made this purchase.

“Not only does the ownership of this team represent the high point of our involvement in motor racing, it is also the logical and final step in the process we started with the Red Bull Junior programme, where we identify, advise and promote young talent through the different formula from Karting to the very pinnacle - Formula One."

It was also revealed that Tony Purnell will stay on as team principal. "Wow! Can you imagine a better outcome for our Team at Milton Keynes?" said Purnell. "I've got to know the folks at Red Bull well over the last year, first as a sponsor and now as our owner. High energy, high motivation, high commitment - they have it all.

“(Jaguar Racing managing director) Dave Pitchforth and the Team have won many admirers over the last two years, and their hard work has earned them this fabulous opportunity. The months of uncertainty are over and this news is terrific!"

The successful sale of Jaguar means that a total of ten teams are again expected to compete in the 2005 FIA Formula One World Championship.
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Old 11-15-2004, 05:50   #2 (permalink)
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Re: Jag & Cosworth Sold

Good news
We need as many teams as possible in F1.

Hope its registered as an Austrian team and not Pommy

Wonder if Red Bull will pull their sponsorship from Sauber now.
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Old 11-15-2004, 12:34   #3 (permalink)
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Re: Jag & Cosworth Sold

And also Midland F1, the Russian owned team, are still tipped to be entering in 2006 as well, picking up Arrows F1s old places. So that's good for F1 that they are getting some new teams!

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Old 11-15-2004, 15:59   #4 (permalink)
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Re: Jag & Cosworth Sold

Damn redbull must make massive amounts of money if they can buy a F1 team and have the funds to run it competatively...
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Old 11-16-2004, 01:28   #5 (permalink)
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Re: Jag & Cosworth Sold

im a bit dissapointed that ford sold "cogsworth"....
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Old 11-16-2004, 01:43   #6 (permalink)
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Re: Jag & Cosworth Sold

Yes, Sauber has lost Red Bull backing.

Will be interesting to see who will pick up the spaces on the car..
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Old 11-18-2004, 16:55   #7 (permalink)
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Re: Jag & Cosworth Sold

I think it to be quite interesting that ford Europe has decided to withdraw money from motorsport in Europe after 35 years, the same year that the board of ford europe was reshuffled. Tis obvious that a time of restructring is indeed the right time to make such tough decisions, however one cannot help but think that perhaps the FoMoCo Europe that G.Polites has inherited is in somewhat a poorer state then one would like to imagine(especially considering G.P's factory support of motorsports down under.
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Old 11-18-2004, 17:02   #8 (permalink)
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Re: Jag & Cosworth Sold

I am more disappointed in the sale of Cosworth. I am not 100% cluey on the ownership o Cosworth in the first plcae. Now as far as I know Ford owned the factory (where Aston Martin get their engines) and Audi or VW owned the R&D?? I could be way off though.
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Old 11-18-2004, 20:00   #9 (permalink)
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Re: Jag & Cosworth Sold

As far as I know the Jaguar F1 was backed by Ford US money. The WRC program is backed by Ford Europe & will continue.
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Old 11-18-2004, 20:07   #10 (permalink)
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Re: Jag & Cosworth Sold

As far as I know, what DRU82 said is correct, Ford Europe signed off on a four year commitment to stay in WRC and JWRC, whereas Ford US pulled funding from the F1 programme but elected to continue supplying engines to the Cart World Series. I think it was a global decision though, as Ford Europe released a press statement a while ago considering leaving WRC to Focus (pardon the pun) on their F1 campaign. Interesting that the decision ended up the opposite way around.

I would comment that Ford's heritage in rallying goes way back, but so does their F1 heritage, so I guess one had to make way. Their F1 programme wasn't helping them sell Jags a great deal, one suspects, but as the Focus is Ford Europe and US bread and butter, it makes sense to make the decision they did.

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