Formula One news

Red Bull bought Jaguar - press conference planned

Energy drink brand Red Bull has bought Formula One team Jaguar, Dieter Mateschitz told an Austrian newspaper. The company's owner - reported to have paid more than $28 million - was quoted by the Salzburger Nachrichten as saying ''It's true -- we bought (the team) at the weekend.''

Dieter Mateschitz

November 15, Monday, is the deadline for official team entries for the 2005 world championship season. The Austrian boss, Mateschitz, said young countryman Christian Klien, Red Bull-backed in 2004, would test the car later in November and another season on the race grid 'would make sense.'

A Red Bull-owned car would be Cosworth-powered next year, Dieter also revealed.

Jaguar has planned an official press conference in London Monday morning at 10.30 (local British time)

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