Ford Agreement with Audi over Cosworth Engineering

AUDI AND FORD AGREE TERMS FOR COSWORTH RACING 13 July 1998 -- Ford has agreed in principle to buy the Cosworth Racing engine division of Cosworth Engineering from Audi AG. Cosworth Racing has worked together very closely with Ford for more ...

AUDI AND FORD AGREE TERMS FOR COSWORTH RACING

13 July 1998 -- Ford has agreed in principle to buy the Cosworth Racing engine division of Cosworth Engineering from Audi AG.

Cosworth Racing has worked together very closely with Ford for more than 30 years The sale allows Audi to concentrate fully on the engineering, development, casting and manufacturing capabilities of Cosworth.

Cosworth has played a significant role in Ford's motorsport heritage and we are delighted with the outcome of the negotiations," said Martin Whitaker, Motorsport Director for Ford of Europe. "The agreement will allow Cosworth Racing to continue to draw on Ford's global engineering capabilities in meeting our commitments in Formula One, Indycar and Touring Car Racing."

Cosworth Racing will be wholly-owned by Ford and continue to be based in Northampton, England.

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Series Formula 1