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JOHNNYBET

Jaguar set to lose sponsor

NEWS STORY
28/05/2004

It would appear that Jaguar is to lose sponsor HSBC at the end of the current season.

Speaking at the bank's annual meeting, and in answer to a question raised by a shareholder, HSBC Chairman, Sir Ian Bond, said: "I share your disappointment with the performance of the team, as I relay regularly to Ford and Jaguar.

"We did it to raise our profile," he added, "I think it has probably served its purpose. We are committed until the end of this season and will make an announcement at the appropriate time."

After a relatively successful season in 2003, great things were expected this season. Then, in a pre-season interview with Autosport, Tony Purnell admitted that there were performance problems that wouldn't be fixed until mid-season. Despite claims that Purnell's comments had been taken out of context, the R5 has not been competitive and the Milton Keynes outfit appears to have taken a step backwards.

It's widely believed that Mark Webber is heading for WilliamsF1 next season, indeed some believe the deal was done several months ago. The loss of a high-profile sponsor such as HSBC would be a further blow to a team, which despite being owned by Ford, has had to revert to seeking pay drivers.

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