Formula One news

Team sale 'in process' - Jaguar

Speculation is persisting that the sale of Jaguar to energy drink magnate Dieter Mateschitz is '99 percent' done. Team managing director David Pitchforth denied the accuracy of a report at Suzuka, which was apparently based on a badly translated radio interview.

But the rumbling continued as the travelling F1 circus packed up in Japan on Sunday evening, spurred on by the absence of Jaguar principal Tony Purnell. "There is a sale process," said Pitchforth, "that involves banks, lawyers - that is happening as quickly as is possible in the game."

Jaguar is already sponsored by Mateschitz's drink brand Red Bull, as is team driver Christian Klien. Meanwhile, Pitchforth revealed that a second 'interim' 2004/2005 Jaguar car will debut at the Jerez (Spain) test this week.

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