"We are really looking forward to our first Formula One season with Jaguar," a statement from Red Bull's billionaire owner Dietrich Mateschitz said on Monday.
"This step is a provisional summit of our 10-year involvement in motor sport." He said the team would use Cosworth engines in 2005. No other details were available.
On Sunday, Mateschitz told an Austrian newspaper: "It is true, we bought Jaguar Racing at the weekend, we have reached agreement with Ford."
Monday is the deadline for teams to enter the 2005 Formula One championship.
Ford shocked the sport when it announced in September it would put Jaguar and its Cosworth engine maker up for sale.
