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Wed 23 May 2012

No more Jaguar

Fri 17-09 2004

Not only will there be no more Jaguar, there will be no Ford F1 in 2005. Jaguar has been put up for sale today, ending speculation that Ford will take over with big backing. This now leaves 2000 employees without a job, and potentially throws out some Formula 1 careers. There are a few potential buyers, the likes of Arden and Dallara who are thinking of entering Formula 1, and buying an existing team may be the best way to enter.

Joe Greenwell, Chairman and CEO of Jaguar and Land Rover had this to say “Jaguar’s presence in Formula 1 has been a valuable marketing and brand awareness platform particularly outside our main markets of the US and the UK. However it was our collective view that it is time for Jaguar Cars to focus 100% on our core business.”

And where does this leave Minardi and Jordan with their Cosworth engine deals with Jaguar. The new owners may not follow up such a deal, and Minardi and Jordan may have another turbulent time in the coming months.
Ford’s main man in Formula 1, Richard Parry-Jones had this to say “"We had anticipated that the sport would undergo reform but it has not," he said. "There are various companies which derive income from the sport. We have discussed with the current incumbent several alternative schemes but nothing has happened. We want to win in F1 and not just be there taking part. To win we need to escalate our investment in F1 and Jaguar Cars cannot afford to do that."
If the team isn’t bought, we will be left with 9 teams. Minardi and Jordan are struggling with funds, and now engines. At the present time, those cost-cutting regulations could make or break Formula One’s future.


Aaron Shaw
DailyF1News.com


Categorieën: Cosworth


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