Ford makes speedy purchase of Cosworth Racing

Cosworth without Ford? That appeared to be the future when Audi AG inked a deal to buy Cosworth Engineering from Vickers plc for $192.3 million. But just one day out of the starting blocks as Cosworth's new owner, Audi peddles the Cosworth Racing subsidiary to Ford Motor Co. The deal allows Cosworth Racing to continue supplying Ford with Formula One, Indy Car and Touring Car racing engines. "Cosworth has played a significant role in Ford's motorsport heritage, and we are delighted with the outcome of the negotiations," says Martin Whitaker, Ford of Europe's motorsports director. Cosworth Racing will be wholly owned by Ford and will continue to be based in Northampton, UK. Details of the purchase were not announced. With the sale, Audi now will concentrate on Cosworth's engineering, development, casting and manufacturing. Cosworth is expected to supply the engines and components for Volkswagen AG's Rolls-Royce Silver Seraph and Bentley Arnage, along with other future products. BMW AG, which currently supplies about 30% of the two cars' components, including engines, is canceling its contract with Rolls effective July 9, 1999.