Ford is preparing to return to Formula One under its own name with the Jordan team, putting it in direct competition with its own Jaguar brand, according to press reports.
Autosport magazine says that Ford, Jaguar’s parent company, is planning a three year deal with the currently Honda powered Jordan team starting in 2003 with an official announcement due before the Hungarian Grand Prix on August 18.
The direct competition between the Jaguar cars and the ‘Ford-Jordan’ team would be a break from tradition but could help Ford recoup money it has lost at Jaguar.
It is estimated that Ford spends more than $158million (EUR160m) a year on its F1 operations.
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