Ford 're-affirms' Jaguar F1 future

Jaguar Racing's long-term future in Formula 1 has been assured by the management of parent company Ford, it has been announced today

Ford 're-affirms' Jaguar F1 future

The board was last week presented with a report, which was commissioned earlier this year, to review Ford's involvement in F1 through Jaguar, engine arm Cosworth Racing and Pi Electronics, known collectively as the Premier Performance Division.

The report was compiled by Ford's group vice-president Richard Parry-Jones, who expressed his delight that the board has decided to endorse his findings.

Three conclusions were reached from the study:
That Ford fully supports its commitment to Jaguar and "is not looking to withdraw from the series nor is it looking to sell the team". In fact, the company will work closer with Jaguar to achieve its aim of winning the world championship;
"To better utilize both the engineering capability of Cosworth Racing to attract more customer business from F1, World Rally and US-based racing, and the legendary Ford Cosworth brand";
F1 continues to provide a very good return on investment in terms of technological, personnel and marketing development.

Parry-Jones said: "With our 'works' team, Jaguar Racing, we are in F1 to stay. F1 is undoubtedly the world's toughest proving ground, one that requires a sustained commitment in order to achieve success. Jaguar's presence in F1 is not driven by short-term marketing objectives.

"This sends a clear message that we are committed to F1 and provides the stability that Jaguar Racing team need to build their competitiveness."

Along with Jaguar, Ford is to be represented by Jordan, which has a three-year deal for Cosworth engines starting in 2003. Minardi is also expected to take a supply of V10s too.

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