AUGUST 5, 2002
Jaguar gets all clear from Detroit
Ford Motor Company bosses in Detroit have informed Jaguar Racing that there is no need to worry about rumors in Formula 1 circles that Jordan Grand Prix is about to be named as a Ford factory team. Jordan is quite welcome to use the Cosworth V10 engines but it will have to pay them - like everyone else. The current price tag is believed to be around $14.5m, which will be a painful blow to Jordan's budget as at the moment the team is getting free engines from Honda.
There are suggestions that Jordan's sponsor Deutsche Post (and its subsidiaries DHL and Danzas) will stay on as a sponsor next year although sources in Germany have questioned that in recent months. But they want a German driver. This has led to speculation that Heinz-Harald Frentzen will be returning to Jordan rather than suing them, as is currently the case. However this is going to be a costly operation as Jordan will have to pay out millions of dollars to get the whole business sorted out - and then pay Frentzen was well. The law suit between the two parties is still going slowly through the British court system and is not expected to be heard until next year.
The additional problem for Jordan is that, as he himself has said recently, he has two drivers under contract for next year and if he wants to get rid of one, he will have to pay. The big question is how this is all going to be achieved at a time when sponsors have the whip hand in negotiations and can squeeze the demands of teams right down because there are so few companies in a position to do deals.
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