Red Bull Buys Formula 1 Jaguar Team

According to the BBC, 340 employees of the Jaguar team will keep their jobs and Red Bull will continue to use the products of Coswoth, a British engine manufacturer.

Red Bull, before it bought the Jaguar F1 team, was one of its primary sponsors. Ford was selling the team, and the performance engines from Cosworth, to save on costs and said that should no buyer appear before November 15th, the team would be dissolved. Now that the jaguar team is still in the Formula 1 race – which will have a leg in Istanbul next year – the race will continue with ten teams.