Ford Completes $65 Million Buyout of Stewart Grand Prix, Rebrands as Jaguar for 2000

Strategic Insights -

In a significant move, Ford has finalized its $65 million buyout of Stewart Grand Prix, with plans to rebrand the team as Jaguar for the 2000 season. Key figures from Ford and Stewart Grand Prix will attend the Frankfurt Motor Show to announce the change, marking a new era in the team's history. The rebranding is expected to boost the Jaguar's presence in the motorsport world and attract top talent to the team.

Key Takeaways:

  • Ford will complete the $65 million buyout of Stewart Grand Prix by rebranding the team as Jaguar for the 2000 season, with the announcement to be made on September 14 at the Frankfurt Motor Show.
  • The team will retain its current management structure, with Jackie Stewart staying on as chairman and Paul Stewart continuing in a management role.
  • The team's current base and operations will remain unchanged, with the new branding being the only significant alteration.
  • Eddie Irvine, the current team leader, has confirmed his intention to stay with the team, which will be rebranded as Jaguar in 2000.
  • Irvine believes that the addition of a new, historic name in motorsport (Jaguar) will be beneficial for the sport as a whole.
  • The new Jaguar car will feature the traditional British Racing Green color scheme, with a ribbon of the Stewart Racing tartan included to reflect the team's heritage.
  • The team is expected to launch a concerted marketing drive for Jaguar, leveraging the Formula One grand prix as a key advertising platform.
  • The rebranding is part of Ford's broader efforts to boost the Jaguar brand, which was acquired by the company ten years ago.

Statistics:

  • $65 million: the amount Ford paid for the buyout of Stewart Grand Prix
  • $6.5 million: Eddie Irvine's agreed salary for the upcoming season
  • 18 months: the timeframe during which speculation about the Jaguar name being introduced has been circulating
  • 2000: the year in which the team will be rebranded as Jaguar
  • 2: the number of days between the Italian Grand Prix at Monza and the Frankfurt Motor Show, where the rebranding announcement will be made

Sources:

  • "Byline: JIM McGILL FORD"
  • "Jackie Stewart"
  • "Paul Stewart"
  • "Eddie Irvine"
  • "Frankfurt Motor Show"
  • "Jaguar"
  • "Stewart Grand Prix"