Jaguar in final phase of talks

After months of speculation about the future of the team, which was put up for sale by parent company Ford in September, sources close to the negotiations claim that the final details of the deal are now being hammered out behind closed doors.

It is understood that the discussions are getting incredibly detailed and it is expected that meetings will carry on until the early hours of the morning throughout the weekend as the Monday deadline looms - as they have for the past few days.

Although it is still possible for whatever becomes of Jaguar to still enter F1 next year if the team does not lodge an entry by the November 15 cut-off point, providing there is unanimous approval from all nine other teams, it is believed that all parties favour a decision being made before then. The team is hoping to make an announcement on Monday.

Red Bull will probably purchase Jaguar for a purely nominal fee, perhaps as little as one dollar, providing that Jaguar's current owners Ford are convinced that it will invest more than £200 million into the team over the next three years.

Although Red Bull is expected to conclude a deal, autosport.com understands that other parties have not been completely ruled out from doing a deal - even at this late stage.

The Midland F1 group, which is planning to link up with Dallara for an F1 entry in 2006, has not yet given up in its own ambitions to buy the team as well as engine supplier Cosworth - and should discussions with Red Bull fail at the last hurdle then the Russian company could be favourites to move in.

That deal would have dramatic consequences for Champ Car series co-owner Kevin Kalkhoven, who is believed to be on the verge of being announced as the new owner of engine specialists Cosworth racing. The confirmation of his deal will go ahead providing that Red Bull agrees to purchase Jaguar.

Jaguar itself is keeping the state of negotiations very close to its chest. Team spokesman Nav Sidhu said: "We are still very much involved in an ongoing and confidential sales discussion with several parties with regard to the successful sale of Jaguar Racing and Cosworth, we are certainly not in a position to discuss or disclose any information at this stage."

Jaguar has been pressing ahead with development of its 2005 car and is expected to test later this month.

A Red Bull deal would also be good news for International F3000 Champion Vitantonio Liuzzi, who has close links with the energy drinks company. He would almost certainly land a seat with the team, possibly as team-mate to Jaguar's 2004 driver Christian Klien.