|Rediff India Abroad Home | All the sections|
Jaguar undecided over F1 future
Alastair Himmer | October 11, 2004 15:01 IST
Troubled Jaguar are still "nowhere near" deciding their Formula One future, according to the team's managing director David Pitchforth.
Ford announced last month that they would pull out of Formula One at the end of the 2004 season and put their Jaguar team up for sale.
"We're nowhere near 99 percent sold," he said.
Jaguar are in a race against time to be on the starting grid in 2005.
They must find a buyer by mid-November while Jordan and Minardi, who are supplied by Ford-owned Cosworth, now need to find new engines.
"Time is of the essence but there's no decision, really," said Pitchforth, though he confirmed Jaguar were in discussions with Red Bull among other potential purchasers.
Jaguar already employ Austrian driver Christian Klien, who joined the team after bringing significant funding from Red Bull.
"There's a process to go through that involves banks and lawyers and all that's happening as quickly as we can get it.
"Absolutely, we already have a relationship with Red Bull and it's nice. There's a lot of good stuff going on but it's not over until it's over."
They have until November 15 when entries for 2005 must be submitted to the governing International Automobile Federation (FIA).
Formula One: The Complete Coverage