If a buyer for the ill fated Jaguar Racing team doesn’t come very soon 350 workers from the Milton Keynes based squad could be joining the unemployment line, with a deal needed to be in the works by the ninth of next month after an extension of ten days.
“The whole negotiation process and the deadline for any deal with an investor has been extended by 10 days,"said Jaguar spokesman Nav Sidhu."But we have to know by around November 9 at the latest as entries for next year's world championship have to be in by November 15."
As our spies in Brazil reported, it looks as if the most serious discussions involving the purchase of the team were coming from Russian born steel tycoon Alex Shnaider however he wants to know exactly what he will get for his money, apart from the employees and a lot of hidden obligations.
However, the Guardian is now reporting that Nigel Mansell and Brand Synergy, the consortium previously behind an attempt to save the British Grand Prix, are now in secret talks with HSBC, one of the team’s major sponsors and the bank currently handling the sale of the team and it is thought that the interest is also in Cosworth, even though there are other reports saying the engine company has already been sold.
"All I can say is that the staff are totally committed to keep working as hard as possible, working on developing next year's car in the hope that all will be well," added David Pitchforth. "We have had some really good results from our wind-tunnel programme and, in any other year, would be extremely excited about the prospects for next season. As it is, we are just keeping our fingers crossed."
If Jaguar dies than there will be either an exception made for 18 starters, just for the one season, or Jordan and Minardi will have to supply three cars apiece and they can then ask Bernie to share Jaguars TV money in order to finance the third cars.
;)
