Formula One news

Jaguar to get Ford cash boost?

Jaguar will have an increased Formula One budget next season, managing director David Pitchforth hinted on Monday. He responded to rumour that Jaguar has no budget at all, or may be renamed 'Ford', by revealing 'I have (now) put in my budget.

''We get a lot of money from Ford,'' said David. ''We had more this year than last, and we will become competitive (in 2005).''

It is also suggested, by sections of the media, that key sponsors HSBC, Beck's, and Christian Klien backer Red Bull, may pull out. Pitchforth would only say negotiations are 'ongoing.'

He said speculation about HSBC started when a board member was asked at a meeting if he was happy with Jaguar's recent result. ''He said: 'No, I wasn't happy','' Pitchforth explained.

''So, that's a non-story, really.''

Pitchforth also said those who predict a complete end for the Milton-Keynes based Formula One team, are very wide of the mark.

He added: ''We're building the car, the (new) wind tunnel ... ''

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• 26 Nov.
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• 25 Nov.
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• 24 Nov.
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• 23 Nov.
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