The underachievement of the Jaguar brand in Formula One could soon be brought to an end if an attempted take-over from Red Bull is successful, it was reported today.
Dietrich Mateschitz, boss of the soft drinks company, is due to have talks with his peers at Ford with a view to buying the F1 team from Jaguar. The Austrian’s vision is to buy a 70% stake in Jaguar for somewhere in the region of £50million.
In doing so, the Jaguar name would be replaced by Red Bull Team USA and still using the same Ford Cosworth engines while trying to promote talented young Americans to the sport.
Mateschitz approached Ford through the Jaguar team of Niki Lauda and Richard Parry-Jones and apparently wants a decision within four weeks, according to BBC online.
The reason for such urgency is Mateschitz’s desire to announce a driver development programme at the US Grand Prix next month.
This year has been Jaguar's worst so far in F1, and many in Ford's top management would like to see the end of the team.
Meanwhile, the persistent rumours linking Eddie Irvine with a return to Jordan show no signs of abating with the Irishman making no secret of his ongoing frustrations at Jaguar.
The 36 year-old Formula 1 veteran is being tipped to partner Giancarlo Fisichella at Jordan next season with Takuma Sato likely to be released from his current contract.