Jaguar are out of F1

**LUD02C** · 18-09-2004 01:37 PM

Jaguar to leave Formula One
‘Ford to exit F1 activities’

Jaguar and Ford to leave Formula One

Ford today announced the end their Formula One programme with Jaguar. The F1 squad will not be re-branded as Ford as previously rumoured, but in fact is to be sold.

The unexpected announcement was made as Ford announced that it was ending production of cars at a plant in Coventry, central England, with the loss of more than 1,000 jobs because of weak demand for the up-market brand.

Cosworth engineering will no longer receive a Ford subsidy, throwing into doubt the supply of engines to both Minardi and Jordan Grand Prix.

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

“After a thorough review over many months Ford Motor Company has decided it can no longer make a compelling business case for any of its brands to compete in Formula One,” Greenwell continued. “Having reached this decision our focus has turned to securing the best future for our Formula One businesses and our employees in these businesses going forward. We are therefore putting our Formula One businesses up for sale. “

Earlier this week, managing director David Pitchforth had voiced confidence that the team would receive an increased budget for the 2005 season.

Providing Jaguar with the resources required to allow it to compete on a level playing field with leading manufacturer teams like Ferrari and Renault would have required a major cash injection that Ford would have found difficult to justify at a time when it is cutting 1,000 jobs.

World champions Ferrari spend around 600 million dollars a year while Jaguar's 2004 budget was estimated at around 180 million dollars and their performances reflect their limited funding. Current race drivers Christian Klien and Mark Webber can both claim a best finish of sixth position.

A statement from Ford

Ford (to) exit from Formula One racing activities, including the sale of those operations. The personnel reductions and the Formula One decision together are estimated to result in a charge to pre-tax income of approximately $450 million. Of this, it is expected that approximately $375 million of these charges are to occur this year, with the remainder occurring next year.

E.A.
Source AFP / Ford

Lucky Webber got out before this.
Problem is that Klein is becoming a good driver.
I hope Red Bull buy it.

Jason

**ECU-MAN** · 18-09-2004 04:45 PM

hope the ( new ) team falls to the bottom of the grid big time, Dont mean it on a bad way just wanna see Minardi beat someone.

**bigteethygrin** · 18-09-2004 04:59 PM

i cant remember where i read this but i know someone else was already looking to start a new F1 team so this is probably an opportune event.. the big problem is where are minardi and jordan going to get their engines from??.. at least they will be forced to buy decent engines for a change..

**rAySiR** · 18-09-2004 05:26 PM

Jordan should go back to Honda... they did better when they where using the Mugen Honda engines....

**ECU-MAN** · 18-09-2004 05:34 PM

Originally Posted by rAySiR

Jordan should go back to Honda... they did better when they where using the Mugen Honda engines....

yes and BAR did better when Honda gave them their Full Attention.

**bigteethygrin** · 18-09-2004 06:03 PM

i think toyota are looking to supply engines too.. so they can double their developement and reduce their costs through sales

**jackosimm** · 18-09-2004 08:36 PM

yeh was lucky for Webber

**LUD02C** · 19-09-2004 08:43 AM

Originally Posted by bigteethygrin

i cant remember where i read this but i know someone else was already looking to start a new F1 team so this is probably an opportune event.. the big problem is where are minardi and jordan going to get their engines from??.. at least they will be forced to buy decent engines for a change..

Phil, you read that in my F1 update post.
Its a Formula 3000 team that wants in.
Thing is they have already purchased a different licence i think to enter.

Minardi and Jordan are in big trouble because the Cosworth engines were so cheap! I'm hoping a big company buys into the sport.

**McChook** · 19-09-2004 11:22 AM

I'd love to see the VW group get into it. They made their SportsCars incredibly dominant, and I think they have the goods to make it work in F1. This also goes for the Porsches in the Mid 90s, of which the VW group holds a stake in. Especially considering that the other 3 German makes are in F1 - BMW and Mercedes Benz

Otherwise, like to see the biggest manufacturer in the world get into F1... GM. The other 4 of the big 5 manufactuers in the USA are already inside F1.
ie, Ford, Chrysler (Daimler Benz - Mercedes Benz has Merc Badged Illmor), Toyota and Honda....