Honda website
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SEPTEMBER 27, 2002

Ford to stick by Jaguar

Jaguar's 'update' Friday was, as expected, a reaffirmation of Ford's commitment to the team's long term success. Ford CEO Nick Scheele and vice-president Richard Parry-Jones were on hand after a meeting in Paris Thursday, where they discussed cost-cutting measures, and the F1 program was potentially on the chopping block. Scheele recently completed a three month survey of the company's involvement in F1, and Ford has decided to continue with their current level of F1 involvement.

"With our works team, Jaguar Racing, we are in Formula 1 to stay," said Scheele. "F1 is undoubtedly the world's toughest proving ground, one that requires a sustained commitment in order to achieve success."

"Jaguar's presence in Formula 1 is not driven by short-term marketing objectives. We are racing enthusiasts and the marque's connection with racing stretches from the time the company was founded by Sir William Lyons in 1922 right up to the present day."

Parry-Jones added, "This sends a clear message that we are committed to Formula 1 and provides the stability the Jaguar Racing team need to build their competitiveness."

Eddie Irvine's podium finish in Italy two weeks ago could not have hurt the decision to stick by Jaguar.