China:Jaguar boss confident sale of team will happen - Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars
Ford Forum Ford Forum

» Auto Insurance
» Featured Product
» Wheel & Tire Center

Go Back   Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars > Fordforums Community > Latest Ford News and Racing News > Ford Worldwide News
Register Home Forum Active Topics Photo Gallery Auto Loans Garage Mark Forums Read Auto Escrow

FordForums.com is the premier Ford Forum on the internet. Registered Users do not see the above ads.
Reply
 
LinkBack Thread Tools Display Modes
Old 09-23-2004, 11:31   #1 (permalink)
Registered User
 
Stacy94PGT's Avatar
 
Join Date: Feb 2001
Location: The Hills of North Georgia,USA
Posts: 7,859
China:Jaguar boss confident sale of team will happen

Jaguar boss confident sale of team will happen

Reuters

SHANGHAI -- Ford have had strong interest in their Jaguar Formula One team but will only sell to a buyer offering real hope for the future, according to boss Tony Purnell.

"There's been masses of interest," the Jaguar team principal told a news conference at the inaugural Chinese Grand Prix on Thursday, a week after Ford said they were quitting at the end of the season and selling the team.

"Formula One generates a lot of people who want to take a chance and we're sifting through (to separate) the realistic buyers from the chancers.

"I think one's got to be fairly confident that a solution will be found," he added.

"The idea of buying a Formula One team is a little bit of a misnomer. It's more about funding a Formula One team on an ongoing basis.

"We're only going to change the ownership to somebody who's got the means to do a credible job for two or three years."

The alternative will be for Ford simply to close down the team and they must make a decision by mid-November when entries for 2005 must be submitted to the governing International Automobile Federation (FIA).

NO DETAILS

Purnell, asked specifically about Austrian Red Bull energy drink magnate Dietrich Mateschitz, refused to comment on potential purchasers.

But he was confident a transfer of ownership could be achieved by November 15 and said the sale would include all the team's assets -- machines, wind tunnels and staff.

"The whole process is a confidential one but rest assured that I've contacted every potential buyer that I know of," he said. "One of the big challenges at the moment is trying to find time just to sleep.

"It's a global business and I'm getting phone calls day and night."

Purnell said that if a credible buyer could not be found it would say far more about the state of Formula One as a business than the team's health or prospects.

"I can't imagine handing someone who wanted to be in F1 a better starting point," he said.

Jaguar are seventh in the championship, a point ahead of Toyota, before Sunday's race. Australian driver Mark Webber has already announced he is moving to Williams next year.

Formula One's commercial supremo Bernie Ecclestone agreed that it would not be in Formula One's interests for Jaguar to be bought by someone without the resources for them to be competitive.

"It's not so much a case of a rich man buying it, it's more a case of the rich man needing some manufacturer support as well," he told reporters in Shanghai.

"If an independent comes in with a manufacturer behind them, then it's good. It's difficult to be competitive without a manufacturer engine."

Ecclestone said last week that Jaguar did not have the financial clout to be among Formula One's leading players and should have pulled out last year.
__________________
Stacy94PGT
My first car was a 67 Mustang Coupe, 2nd one was a 67 Cougar XR-7, 3rd one was a 66 Mustang Coupe. Why did I get rid of these cars for ? I know why, because I'm stupid, stupid, stupid.

My next Ford.....
Stacy94PGT is offline   Reply With Quote
Sponsored Links
Advertisement
 
Reply

  Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars > Fordforums Community > Latest Ford News and Racing News > Ford Worldwide News



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
V8's Sandown Saturday Ambrose_1 Ford Racing Across the Globe 16 09-11-2004 06:43
Falcon XR8 to Continue Sales Momentum RPO83 Australian Falcons 22 01-24-2003 04:40
Team Yamaha: TE50 improves performance on the Race Track Falchoon Ford Racing Across the Globe 0 05-26-2002 18:24
Colin McRae AND Sainz could leave Ford Rally team at end of this season. rallyman Ford Racing Across the Globe 6 05-05-2002 06:33
Team Kiwi Racing robbed of vital race data Falchoon Ford Racing Across the Globe 3 03-13-2002 03:14

Powered by vBadvanced CMPS v3.2.2

All times are GMT -7. The time now is 00:37.



Powered by vBulletin® Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0
Garage Plus vBulletin Plugins by Drive Thru Online, Inc.