Analysis: Red Bull Buys Jaguar on Deadline Day

Drinks firm Red Bull has bought the Jaguar team on Formula One's deadline day, ending months of uncertainty triggered by Ford's withdrawal from the sport.

Jordan's participation in 2005 was also secured on Monday after Toyota agreed to supply the team with engines "at an affordable price".

Jordan had previously used engines made by Cosworth which Ford put up for sale along with Jaguar in September.

Teams have until Monday evening to enter the 2005 Championship. Combined with last week's announcement by Minardi, who also used Cosworth engines, that they had signed up for next year it seems there will again be 10 teams on the grid in 2005.

Austrian energy drink firm Red Bull, which is owned by billionaire Dietrich Mateschitz, have been involved with motorsport for more than a decade and owned a majority stake in the Sauber team until 2002.

"There are things which, alongside their strategic fit and logicality, also give me personally a great deal of pleasure," Mateschitz said in a statement. "Our own Red Bull team in Formula One is definitely one of those."

No financial details were given. Ford are reported to have been looking for a token amount in return for a purchaser taking over the running costs of their 300-strong Milton Keynes-based team.

Jaguar entered Formula One in 2000 after Ford took over the Stewart team founded by three times World Champion Jackie Stewart. They are yet to win a Grand Prix and finished 2004 in seventh place in the Constructors' Championship with just 10 points.

"The team has shown its class in a 2004 season that was anything but easy and stood out due to its cohesion," Mateschitz said.

Cosworth Engines

The statement said the team would be using Cosworth engines next season. A London news conference later on Monday is expected to confirm a purchaser for the engine manufacturer. Red Bull have in recent years been involved in sponsoring promising young drivers.

The company backed Austrian F1 rookie Christian Klien at Jaguar this year as well as Italy's Formula 3000 champion Vitantonio Liuzzi, which would put them in the frame for the team's two drives for next season.

"We now have the possibility to accompany young talent throughout their whole career," Mateschitz said.

Jaguar's other driver, Australian Mark Webber, has agreed to move to Williams. Jordan have been fighting for survival after Ford's pull-out.

"Toyota are to be commended," team boss Eddie Jordan said in a statement.

"Not only have they been fantastic to Jordan by agreeing this deal at short notice but they have also done the magnanimous thing for the sport by putting Formula One above their own exclusivity."

Toyota have not supplied engines to another team since joining the sport three years ago.

"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," Toyota's head of motorsport Tsutomu Tomita said.

Jordan have won four Grands Prix in 14 years of Formula One racing. They finished ninth out of 10 teams last season.