Audi signs letter of intent to purchase Cosworth

Audi AG has signed a letter of intent with Vickers plc to purchase Cosworth Engineering for 120 million pounds sterling. The purchase is conditional on the completion of the Vickers shareholders approving the sale of Rolls-Royce and Bentley to...

Audi AG has signed a letter of intent with Vickers plc to purchase Cosworth Engineering for 120 million pounds sterling. The purchase is conditional on the completion of the Vickers shareholders approving the sale of Rolls-Royce and Bentley to Volkswagen AG.

While no official mention has been made of any future involvement of Audi in Formula One, it is fully expected that this purchase will enable the company to realize its longstanding goal of participating in F1.

Cosworth is currently contracted to develope and manufacture F1 engines for Ford. It is not known what the impact of the sale on these existing contractual arrangements; while Ford is unlikely to want to contract work to an Audi subsidiary, it is not known how soon it would be able to make alternate arrangements.

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Series Formula 1