17/09/2004
NEWS STORY
The Jaguar brand and Ford Motor Company will withdraw from Formula One at the end of 2004 and Ford will put its Formula One businesses up for sale.
Joe Greenwell, Chairman and CEO Jaguar and Land Rover, said, "Jaguar's presence in Formula One has been a valuable marketing and brand awareness platform particularly outside our main markets of the US and the UK. However it was our collective view that it is time for Jaguar Cars to focus 100% on our core business."
After a thorough review over many months Ford Motor Company has decided it can no longer make a compelling business case for any of its brands to compete in Formula One. Having reached this decision our focus has turned to securing the best future for our Formula One businesses and our employees in these businesses going forward. We are therefore putting our Formula One businesses up for sale.
Further details to follow: