Ford confirms sale of Jaguar and Cosworth
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The Ford Motor Company has confirmed that Red Bull is the new owner of Jaguar Racing and that Tony Purnell will stay on with the team to run operations.
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The US automaker Ford on Thursday named Tata Motors of India as the preferred buyer for Ford's luxury Jaguar and Land Rover car brands.
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Austrian energy drink firm Red Bull said on Monday it had bought the Jaguar Formula One team from Ford. &quot;We are really looking forward to our first Formula One season with Jaguar
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Jaguar boss Tony Purnell says there has been âmasses of interestâ in buying the team. Jaguar were put up for sale at the end of last week by owners Ford and Purnell is hoping to find a buyer before November
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Jaguar will pull out of Formula One at  the end of 2004, with parent company Ford's engine maker  Cosworth also up for sale.
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Bids are expected on Thursday for Fordâs Jaguar and Land Rover units from a variety of companies, including private equity firms, and possibly other automakers.
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Ford Motor Co. said Tuesday it was &quot;actively&quot; studying options that could include the sale of its British nameplates Jaguar and Land Rover as part of a companywide strategic review.
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Very much as expected, Austrian energy drink company Red Bull - a sponsor during the 2004 season - has bought Jaguar Racing from Ford Motor Company.
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Ford Motor Co . is set to choose a  frontrunner to buy European brands Jaguar and Land Rover around  the end of this week as it moves towards a sale early in 2008,  said a person close to the matter on Monday.
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Ford Motor Company confirmed on Monday that the Austrian energy drink company Red Bull have purchased their entire UK-based Formula One team, including their Milton Keynes Head Quarters and two wind tunnel facilities in Bicester and Bedford.
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It came as a shock to most people in Formula-1 when Ford pulled Jaguar out of next season. They also put up the team for sale. And since then there have been doubts whether the team could make it to next year.
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The new formula one team rose from the ashes of Jaguar Racing when the energy drink maker announced yesterday its long-awaited takeover of the British team, which was put up for sale by Ford two months ago.
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US automaker Ford says it is pulling its Jaguar Formula One team out of the auto racing circuit at the end of this season. Jaguar&#39;s chairman said the company does not believe it makes business sense to continue operating in Formula One.
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If India's Tata Group drives off with US auto giant Ford's iconic British brands Jaguar and Land Rover, it would be another feather in its cap after buying European steelmaker Corus earlier this year.
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Ford Motor Co F.N reiterated on   Wednesday that its Jaguar and Land Rover brands were not for   sale but said it would continue to examine all its options.
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Austrian energy drink makers Red Bull said on Monday they had bought the Jaguar Formula 1 motor racing team from Ford who withdrew the team after this year&#39;s world championship.
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Tata Motors said that it was entering detailed talks with Ford about the takeover of Jaguar and Land Rover, confirming what investors and analysts have anticipated for months.