Press Snoop: Ford garage sale, Jordan gets Toyota.

Cosworth Engines have been sold for an undisclosed and confidential price to KEVIN KALKHOVEN and GERALD FORSYTHE, two of the three owners of Open Wheel Racing Series, which owns the Champ Car World Series. Red Bull energy drink has purchased the Jaguar Formula One team for a $1, but the cost to Red Bull will be considerable.

DIETRICH MATESCHITZ was finally able to conclude a deal to purchase a Formula One team. The Red Bull founder and CEO tried for Arrows, and then was involved with Sauber, before pulling out at the end of this season. TONY PURNELL will become the team principal of Red Bull Racing, moving over from his same position at Jaguar.

Mateschitz said: "Our move to fully owning a Formula One race team makes good business sense for Red Bull. Not only does the ownership of this team represent the high point of our involvement in motor racing, it is also the logical and final step in the process we started with the Red Bull Junior programme, where we identify, advise and promote young talent through the different formula from karting to the very pinnacle - Formula One."

Also staying on will be managing director, DAVID PITCHFORTH. Rumours abound in Europe that GERHARD BERGER will be joining the team in a management capacity.

The purchase price of $1 is deceptive because of the Ford liabilities Red Bull will acquire. Reportedly Ford is asking that a minimum of $400 million be invested in the Milton Keynes facility over the next three years and guarantee the job tenure of the 350 employees.

No drivers have yet been officially named, although rumours abroad indicate CHRISTIAN KLIEN - who already has Red Bull backing - is under consideration. Purnell said: "We will be considering experienced drivers as well as some Red Bull Junior drivers. Over the coming weeks, we'll be testing a few fellows" - but no names were provided, other than that veteran DAVID COULTHARD would be considered. The Scot had reached an agreement with Jaguar for 2005, before it was known Ford would be pulling out of F1. Other dark horses include BAR's 2004 test driver, ANTHONY DAVIDSON, and Formula 3000 champion, VITANTONIO LIUZZI, who has already tested with Sauber this season.

The new RB1 team is in negotiations with Michelin Tyres in hopes of continuing to run its rubber, which the Jaguar was designed to run. New sponsorship for the team will be sought to replace that which won't move forward from Jaguar to Red Bull.

The first F1 test for the new team will be three days next week in Barcelona when the present ban on off-season test is concluded. This will be followed by two tests in Jerez. The new car and driver line-up are expected to be shown/announced at a send-up in the New Year.

With the announcements that Red Bull has bought Jaguar and that both Jordan and Minardi have engine deals for 2005, there appears to be a full line-up of ten teams with 20 drivers for the 2005 season, same as 2004. And almost a thousand employees will still have jobs.

Kalkhoven and Forsythe both run teams in the currently named Bridgestone presents The Champ Car World Series powered by Ford. They have concluded their purchase of Cosworth engines, which will now be called Cosworth engines, with no mention of Ford.

Kalkhoven said, in response to a question regarding the one-year Cosworth engine deal with the new owners of Jaguar, that extensive F1 rule changes are expected for 2006 and before making any further (F1) commitments/decisions at this time, Cosworth needed to study the new rules.

Minardi Formula One Team confirmed Monday that it will run Cosworth TJ engines in 2005. However, due to the 'timing of the announcement, it would operate its 2004 car and engine package for the first three races of the new season'.

One Formula One team not included in Cosworth's plans for the 2005 season is Jordan, which concluded an agreement with Toyota Motorsport GmbH to run 2005-spec Toyota customer engines. It will be branded 'Toyota RVX-05', but Toyota will otherwise not be part of any naming of the F1 team, which will remain Jordan. This means it won't be called Jordan-Toyota or any such variation.

The agreement was concluded Friday 12 November, just under the wire for Monday's 15 November 2004 FIA deadline for F1 teams signing on for the next season. The cost was said to be 'affordable'.

TSUTOMU TOMITA, chairman of Toyota Motorsport and team principal for Panasonic Toyota Racing said: "The decision to supply Jordan Grand Prix with engines was only taken in recent weeks once engine regulations for 2005 were confirmed. The move to a two-race engine and the recent planned reduction of testing for next year have also contributed considerably to making this deal possible. The last-minute nature of this agreement will offer us a real challenge for the upcoming season, but it is one which we are happy to take on. We are pleased to be able to offer our services to help another team, given the difficulties that Formula One is currently facing, particularly with engine supply. I sincerely hope that the Toyota RVX-05 engine will be a substantial asset to the Jordan team in the coming season".

Separate Cosworth media teleconferences were conducted on both sides of the water, Monday morning local time in England and Indianapolis. The first person in the US to comment on the news was Champ Car co-owner/actor PAUL NEWMAN, who congratulated the new owners, and said he was glad that "Newman/Haas won't be down on power". He also said he was glad that Champ Car would have a guaranteed engine supply "without outside interference".

Kalkhoven said that there was a forty-year Cosworth racing history, including Formula One heritage, and "we are strongly committed to continuing that great and very successful heritage into the future". He also said Cosworth "is looking at the whole area of engine development, but also in new markets".

For 2005, there will be no interruption in Cosworth continuing to service the Chevrolet contract in the Indy Racing League's IndyCar Series. Cosworth plans to continue development while keeping its current markets, and there are expansion plans, especially in the United States. Kalkhoven said Cosworth would pursue new markets, including low pollution marine engines and the (lucrative and growing) tuner car market. Cosworth will pursue new automotive manufacturers.

Cosworth will retain its current administrative and managerial staff as well as the nearly 600 employees in England and the US, including the 80 in Torrance. That plant will be focused on new US markets, such as the tuner car kits. While the California plant will continue with some design work, most of that will be done in the United Kingdom.

Champ Car, however, could see a return of other engine manufacturers after this next season.

Cosworth will continue with the 2005 World Rally programme, which Ford Motor Company will continue to run. Kalkhoven said Cosworth is working with MALCOLM WILSON of M-Sport to develop a variant Cosworth engine for the 2006 season.

TIM ROUTSIS, Cosworth MD, said: "The high regard in which Kevin and Gerry hold the company, its people, brand and products has been demonstrated today in the most convincing manner possible".

Routsis said there were other bidders for the Cosworth company, since it went public on 17 September 2004 that it was being sold. They weren't named, but among the criteria were experience in motorsports; a coherent business plan with a vision and view to the future; financial back-up to pay the price and sustain the costs; and ability to move quickly to conclude the transaction.

Champ Car has a ladder system, which includes the Atlantic Championship Series which currently runs Toyota engines under a contract due to run through 2005, and the Star Mazda Series. Kalkhoven said in the Champ Car-prepared statement that "as we go forward, Cosworth will be an engine developer for the supporting series of the Champ Car World Series. Cosworth will develop affordable engines for our ladder series. Being able to control our engine supply allows us to significantly determine the future of all of our race series from Champ Cars through the ladder system. Having control of its engine design and technology for the future is a key to the development of the Champ Car World Series and our developmental series. This will enable us not to be dependent on any particular manufacturer."

Toyota has had a long history with the Atlantic Series. Kalkhoven said on the live teleconference "that things need to settle before any announcements concerning the ladder series." He said "it was too early to say if the Atlantics would run a Cosworth after 2005."

RICHARD PARRY-JONES, group vice-president for global product development and chief technical officer for Ford Motor Company, said: "Today marks the passing of an era. After competing for over thirty-five years in the sport in partnership with Cosworth, deciding to exit F1 was a very tough decision for us to make. During that time, the Ford-Cosworth relationship has experienced the highs and lows of the sport, but we have also left a rich legacy of victories and championships won by some of the most famous drivers and teams in motorsports history.

"This success would not have been possible without the contribution of our employees, partners, drivers, sponsors and of course the fans. I would like to thank them all, and am reassured that this famous racing name will go forward under the stewardship of Kevin Kalkhoven and Gerry Forsythe. We look forward to a continuing relationship with Cosworth."