Jordan has completed its negotiations and confirmed that Toyota will supply engines to the Silverstone based team for 2005. The one-year deal was sealed on Friday; Jordan will purchase the 2005 spec Toyota RVX-05 engines at an 'affordable price' but there will be no re-branding of Jordan as team.
"Toyota are to be commended," said Eddie Jordan. "Not only have they been fantastic to Jordan by agreeing this deal at such short notice, but they have also done the magnanimous thing for the sport by putting Formula One above their own exclusivity."
"A supply of Toyota engines is an enormous boost for Jordan and I am very excited about putting together our 2005 package in the coming weeks and months.This announcement, along with others coming shortly, will revive the fortunes of Jordan Grand Prix and at the same time I hope we can help Toyota in the battle for World Championship honours."
Toyota chairman and team principal Tsutomu Tomita said: "The decision to supply Jordan Grand Prix with engines was only taken in recent weeks once engine regulations for 2005 were confirmed. The move to a two-race engine and the recent planned reduction of testing for next year have also contributed considerably to making this deal possible."
"The last-minute nature of this agreement will offer us a real challenge for the upcoming season, but it is one which we are happy to take on. We are pleased to be able to offer our services to help another team, given the difficulties that Formula 1 is currently facing, particularly with engine supply. I sincerely hope that the Toyota RVX-05 engine will be a substantial asset to the Jordan team in the coming season."
It was also confirmed this morning that Jaguar has been sold to Red Bull and Cosworth to ChampCar co-owners Kevin Kalkhoven and Gerald Forsythe. Jaguar, or whatever the team becomes, will run with Cosworth engines in 2005.