Ford Motor Company Sells the Jaguar F1 Team to Red Bull

Famed Engine Builder Cosworth Racing Also Sold

Ford Motor Company announced yesterday that it has secured the sale of engine maker Cosworth Racing as well as Jaguar Racing Limited,

Ford announced yesterday that it has a buyer for Jaguar Racing, the automaker's Formula One team. (Photo: Jaguar Canada)

the automaker's Formula One racing division.

"I am really pleased that Red Bull has bought Jaguar Racing," said Richard Parry-Jones, Group Vice President - Global Product Development and Chief Technical Officer, Ford Motor Company. "Since we made the announcement to sell our F1 businesses in September we have

"Red Bull is a very successful business and has been extensively involved in F1 and global motorsport for over a decade." (Photo: Red Bull)

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."

It was expected that Jaguar would unload the unsuccessful Jaguar team if its fortunes did not turn around, as continued back-of-the-pack performance was too much to take for a brand that often sees the podium in the top echelons of motorsport, such as its dominating performance in the 2004 World Rally Championship at the hands of rising star Markko Martin and co-driver Michael Park.