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Jaguar pulls out of Formula One racing


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LONDON ? Jaguar and parent company Ford are pulling out of Formula One racing at the end of this season after just two top-three finishes since joining the circuit in 2000.

Ford's decision to sell Jaguar and its Cosworth engine subsidiary is a blow to F1. Two of the sport's small teams ? Jordan and Minardi ? use Ford-made Cosworth engines.

"Jaguar's presence in Formula One has been a valuable marketing and brand awareness platform particularly outside our main markets of the U.S. and the U.K.," Joe Greenwell, Jaguar chairman said Friday. "However, it was our collective view that it is time for Jaguar cars to focus 100% on our core business."

Jaguar, whose drivers are Australia's Mark Webber and Austria's Christian Klien, is seventh in the F1 championship with 10 points. Jaguar entered F1 four years ago after buying out the Stewart Ford team. The team has been unable to compete with the likes of Ferrari, McLaren, Williams, Renault and BAR-Honda. [Read More]

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but the really good thing about all of this is that they have signed a 10 year deal with Arena Limited (Company behind the new Coventry City FC ground) worth ?7million.

I know 7million of 10 years isnt a lot, but i'm sure it could have been used for a better purpose.

However Coventry being what it is - they need the money more than Jaguar do.....

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The Jaguar car failed so many times ... However, it's ashame to see them go, I like the way the cars look and thought that they will improve in a few more years...

Apparently a jaguar manager is trying to arrange a buyout so they can continue racing. Dunno how that will work (can they still use that jag name etc) but good luck to them nonetheless.

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