Red Bull is Jaguar's last chance

Red Bull has emerged as the last remaining hope that the Jaguar team has of remaining in grand prix racing next year, high-level insiders have told autosport.com. A sale must now be agreed with the energy drinks giant before November 15 or the team will probably be closed

Red Bull is Jaguar's last chance

A series of interested parties have come forwards in recent weeks expressing a desire to buy the team, with some also putting in bids for engine company Cosworth, but most of these have not lived up to expectations after further close analysis by the HSBC bank, which is handling the sale of the team.

A recent bid by the Brand Synergy marketing group, which has close links with Nigel Mansell, was rejected when financial guarantees could not be met. Similar interest from a Chinese consortium, which is now talking to Jordan, and the new Midland F1 team have also proved unfounded.

A source close to the negotiations between HSBC and Red Bull told autosport.com: "Red Bull is the only bidder left - and we expect talks to go right to the deadline."

The fact that Red Bull is now the only remaining bidder puts in a position of strength - because it will almost certainly be able to force Ford to back down on points of the sale that have not previously been agreed. Agreement has to be reached by November 15, which is the date when entries to the 2005 F1 world championship must be lodged.

According to a report in this week's Autosport magazine, the sale to Red Bull is being held up by minor points of disagreement between the two parties. Although the energy drinks company has met all the financial requirements laid down by Ford, the car manufacturer is still reluctant to agree to the sale.

Red Bull advisor Helmut Marko told Autosport: "We are still talking. There is an offer on the table, as there was before. We have no deadline. Alas, Ford seem to have been unable to clearly react to our offer."

The Red Bull offer is only for Jaguar Racing, although there are understood to be several serious bidders keen to buy engine partner Cosworth Racing. Should the Red Bull deal be given the green light then the team will likely stick with Cosworth engines for 2005 - after evaluation of a switch to Toyota engines indicated it would be too expensive and complicated to change power-units in such a short time frame.

Jaguar is still continuing work on next year's car and is still scheduled to test later this month when Formula 1's winter testing ban comes to an end. The cars are expected to run with a black paint scheme for the first test.

shares
comments
Ferrari will still win says Lauda

Previous article

Ferrari will still win says Lauda

Next article

Jordan holds China talks

Jordan holds China talks
Load comments
The other notable Monza escape that F1 should learn from Plus

The other notable Monza escape that F1 should learn from

OPINION: The headlines were dominated by the Italian Grand Prix crash between Max Verstappen and Lewis Hamilton, who had the halo to thank for avoiding potentially serious injury. But two days earlier, Formula 1 had a lucky escape with a Monza pitlane incident that could also have had grave consequences

How Monza only added more questions to F1's sprint race conundrum Plus

How Monza only added more questions to F1's sprint race conundrum

With two sprint races under its belt, Formula 1 must now consider its options for them going forward. While they've helped deliver exciting racing on Sundays, the sprints themselves have been somewhat lacking - creating yet another conundrum for F1 to solve...

Formula 1
Sep 16, 2021
Who should Alfa Romeo sign for 2022's F1 season? Plus

Who should Alfa Romeo sign for 2022's F1 season?

OPINION: With Valtteri Bottas already signed up for 2022, all eyes are on the race for the second seat at Alfa Romeo next year. Antonio Giovinazzi is the current incumbent, but faces a tough competition from appealing short and long-term prospects

Formula 1
Sep 15, 2021
The "forced break" that was key to Ricciardo's Monza excellence Plus

The "forced break" that was key to Ricciardo's Monza excellence

OPINION: Daniel Ricciardo has long been considered one of Formula 1’s elite drivers. But his struggles at McLaren since switching from Renault for 2021 have been painful to watch at times. Yet he’s recovered to banish those memories with a famous Monza win – built on a critically important foundation

Formula 1
Sep 14, 2021
How Verstappen is ruining his F1 title battle with Hamilton Plus

How Verstappen is ruining his F1 title battle with Hamilton

OPINION: The Italian GP clash between Lewis Hamilton and Max Verstappen followed a running theme in the 2021 Formula 1 title fight. Their close-quarters battles have often resulted in contact - and although Hamilton has shown a willingness to back off, Verstappen must learn to temper his aggression

Formula 1
Sep 14, 2021
Italian Grand Prix Driver Ratings Plus

Italian Grand Prix Driver Ratings

Two drivers produced maximum-score performances as, for the second year in a row, Monza threw up an unpredictable result that left several others ruing what might have been

Formula 1
Sep 13, 2021
Why Ricciardo was set for Monza F1 triumph even without Verstappen/Hamilton crash Plus

Why Ricciardo was set for Monza F1 triumph even without Verstappen/Hamilton crash

The clash between Max Verstappen and Lewis Hamilton was the major flashpoint the 2021 Italian Grand Prix will be remembered for. Yet by this point, race leader Daniel Ricciardo had already done the hard work that would put him in position to end his and McLaren's lengthy win droughts, on a memorable afternoon in Monza

Formula 1
Sep 13, 2021
Why Italian GP success is on for McLaren even if Verstappen dominates Plus

Why Italian GP success is on for McLaren even if Verstappen dominates

For the second time in 2021, McLaren will line up for the start of a grand prix from the first row. It knows it has the chance of “glory” if things go well for Daniel Ricciardo and Lando Norris at the start of the 2021 Italian Grand Prix, but even if they just maintain their grid positions, signs from the rest of the Monza weekend suggest success is very possible for Formula 1’s other orange army

Formula 1
Sep 12, 2021