Formula One news

Cosworth to be sold - Purnell

The sale of Ford-owned F1 engine supplier Cosworth should be completed shortly, Jaguar CEO Tony Purnell has revealed. He said the interest in the money-making venture, with ties elsewhere in world motor sport, has been 'considerable. "We're hoping that within a week or so we can more or less lean back ... and say 'yes, the deal conceptually is struck'."

US carmaker Ford announced last month that both Cosworth and Jaguar Racing would be closed down if buyers were not found. As for the fate of the Milton-Keynes based F1 team, Purnell was slightly less optimistic. "The market for a team is thin," said the Jaguar principal.

He added: "We're entering a very critical week where it could go either way."

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