Cosworth's future

Richard Parry-Jones has announced that Cosworth is being sold to Kevin Kalkhoven and Gerry Forsythe and says that it was "the best feasible outcome" in the situation.

"Ford is committed to motorsport," he said. "Exiting F1 we may be but getting out of motorsport we are not." Parry Jones said that Ford is committed to the World Rally Championship, the new World Touring Car Championship, is going to Le Mans with Aston Martin and continuing to support Formula Ford.

"Cosworth has developed a tremendous reputation on both sides of the Atlantic," said Kalkhoven, "and it is a real thrill to be able to maintain that and develop this fine company into the future. The Cosworth management team is in place and we will keep it in place."

Tim Routsis, the managing-director of Cosworth says that the company is "raring to go" and intends to keep up Cosworth's tradition in F1.

"We still expect a presence in the WRC," he said. "In fact we are not currently anticipating withdrawing from anything. Changes will be structured diversification into new market places which build on the skills we have. Cosworth sells horsepower and we are quite enthusiastic about marine projects and new engines with Caterham."

Routsis said that there was "a huge sense of relief at Cosworth."

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