OCTOBER 22, 2004

The F1 sales are on

With just three weeks remaining until entries for the 2005 Formula 1 World Championship must be completed and filed with the FIA, there is a great deal of hustle and bustle on the Formula 1 market as potential investors talk to teams which are down on their luck about sponsorships, partnerships and takeovers. We hear that there are at least six potential buyers for Jaguar Racing (two of which have only popped up in the last few days). The details are not clear because the Ford Motor Company is trying to keep things secret but we believe that Red Bull, Midland F1, a Chinese group and possible Hyundai are all heavily involved in negotiations. Our sources says that the most likely deal is a Red Bull Toyota deal with the team being run by the current management but things are changing almost by the hour and so it is difficult to know. The overall impression, however, is that the team will be acquired by someone.

Cosworth Racing is also a company in demand with at least eight buyers we have heard about, most of which are apparently interested in investing the necessary money to run an F1 programme. The man who is believed to be at the top of the list of buyers is Champ Car owner Kevin Kalkhoven, who wants to secure the engines he needs to keep his racing alive while at the same time, get his hands on the Cosworth facilities in Torrance, California, which is a very advanced facility with a good team of people.