Ford deny Jaguar for sale

Motor giant Ford has denied that Jaguar Racing is for sale following rumours that Red Bull boss Dietrich Mateschitz was aiming for a buy-out. Since Jordan announced it will be supplied by Ford-Cosworth engines next season, Jaguar has been the ...

Motor giant Ford has denied that Jaguar Racing is for sale following rumours that Red Bull boss Dietrich Mateschitz was aiming for a buy-out. Since Jordan announced it will be supplied by Ford-Cosworth engines next season, Jaguar has been the subject of much speculation that Ford may be looking to dump the ailing team.

Mateschitz was recently linked with buying the financially challenged Arrows F1 team but it seems he has lost interest. The Austrian is known to be looking for a team to develop into an American presence in Formula One.

However, Ford refute any claims of a sale: "Ford Motor Company management is not in negotiations and is not planning on the sale of Jaguar Racing," a spokesman told Reuters. Sir Jackie Stewart, formerly Jaguar boss, also dismissed the claims: "That is absolutely wrong, there is no truth in that all," he said on UK radio.

Jaguar have come under some pressure from Ford to improve the poor performance of this season and the team are reportedly looking for a new technical director. Guenther Steiner has been acting technical director since the departure of Steve Nichols in March and it's been rumoured that former BAR design and engineering director Malcolm Oastler is high on Jaguar's wish list.

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About this article
Series Formula 1
Drivers Jackie Stewart
Teams Jaguar Racing , Jordan