Formula One faces turmoil as Jaguar reach end of the road

FORMULA One was yesterday thrown into chaos with news of Jaguar’s decision to quit the sport.

The team, owned and run by Ford, have struggled ever since emerging from the Stewart outfit in 1999 with a high-budget, high-profile entry into Formula One.

Ford yesterday took the decision to pull the plug on the team at the end of the season and have set up a difficult few months for the sport by withdrawing their backing for the Cosworth engine division.

Cosworth have provided a subsidised engine for Jordan and Minardi over recent seasons, enabling the two minnows to continue in the sport. That arrangement now looks certain to end, leaving both teams desperate for an engine supplier with no obvious candidates in sight.

The Jaguar team has been put up for sale with immediate effect and has already aroused interest.

Current team boss Tony Purnell is believed to be bidding for ownership while Christian Horner is keen to step up after a successful Formula 3000 career running Arden International.

Ford’s vice president Richard Parry-Jones confirmed the decision yesterday lunchtime. He said: “Jaguar will be withdrawing from Formula One effective from the end of the 2004 season.

“There was no compelling business case to continue the operation. We have to be able to win and we just can’t justify the spending.”

Jaguar were known to be struggling to justify their existence to their Ford paymasters, but a more likely outcome had expected to be a rebranding.

With job losses and factory closures afflicting Jaguar’s car-making arm in Britain, the Formula One team was expected to be rebranded as Ford.

Max Mosley, president of world governing body the FIA, had warned last weekend that a major manufacturer had threatened to quit Formula One.

Jaguar were known to be on the verge of losing major sponsors such as HSBC and Becks but the wholesale pull-out was not expected and their decision to jettison legendary engine producer Cosworth has the most serious repercussions.

A buyer for Jaguar can be expected without major difficulties but the need for new power units for Jordan and Minardi raises serious doubts over their continued participation.

Jaguar’s Formula One life has been a turbulent one, with success increasingly hard to come by.

Since Ford bought out Stewart in 1999, Jaguar have had little success to shout about and this season they have struggled to make the points despite the promise of driver Mark Webber.

The Australian has already agreed to join Williams for next season, leaving just number two driver Christian Klien and tester Bjorn Wirdheim facing uncertain futures.