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Editor/Photographer : Mark
Charles |
August 19 2004
Jaguar team to be
come Ford ?
A report from www.pitpass.com
says Germany's `Auto Motor und Sport` suggests that serious consideration
is being given to renaming the Jaguar F1 team - Ford. Apparently, faced
with the prospect of losing a couple of
sponsors, most notably HSBC, which is pulling out of F1 (race car) sponsorship
at the end of the year, Ford is faced with having to increase its own
financial input.
The article reports
that HSBC currently contributes $38m a year, and that if it pulls out,
Ford would have to up its contribution to $80m - or $11.4m a point, as
of Hungary. Despite rumours linking the Milton Keynes outfit with a buy-out
by Red Bull, which apparently contributes $50m a year, it appears that
the deal won't happen, the situation being hampered by a disagreement
over naming rights - basically the new name of the team.
Furthermore, Christian Klien looks likely to be leaving the team at the
end of the year, Red Bull boss Dieter Mateschitz unhappy with the Austrian's
progress.
Ford are questioning
the amount of money being spent on a project that is not proving advantageous
to the company name. The powers that be within Ford have made it quite
clear that they will not get involved in a
spending war with the likes of Toyota, BMW, Honda or Mercedes, and only
recently team boss Tony Purnell couldn't guarantee, when asked by Bernie
Ecclestone, whether Jaguar/Ford will be on the grid in 2005. David
Coulthard and Vitantonio Liuzzi are two of the names currently linked
with the Milton Keynes outfit for next year.
http://www.pitpass.com/fes_php/pitpass_news_item.php?fes_art_id=22030
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