SAO PAULO, Brazil (AFP) - The future of the Jaguar Formula One team is expected to be announced later this week when a decision is taken over offers made to buy the outfit.
Jaguar team boss Tony Purnell insists this week is crucial to the fate of the team with an outcome of talks with interested parties likely to reach a culmination one way or the other.
Parent company Ford put Jaguar Racing up for sale in September after the British-based team failed to produce the goods in Formula One despite a 100 million-dollar-a-year budget.
But Jaguar's future remains unclear and Purnell is pushing for a decision before the November 15 date for entries for the 2005 season to be lodged to Formula One's governing body the FIA.
"This week is pretty critical really," Purnell said.
"Things are in the balance and make no mistake about it they could go either way.
"It is not as if this week is a deadline, it is just that November 15 is rearing up and everyone wants to know where they stand. I'm desperate to tell everybody.
"We could be popping champagne corks but I don't know. I think we will have some concrete news by the end of the week."
Owners of the energy drink Red Bull, who currently sponsor the team, have been linked with a potential buy-out as has Christian Horner, the owner of the successful Arden Formula 3000 operation.
Ford's engine division Cosworth, which supplies power units to Jordan and Minardi as well as Jaguar, is also up for sale with Purnell predicting the completion of a deal this week.
But Purnell said that the individual futures of the Jaguar Formula One operation and Cosworth are not dependent on each other and could be saved individually.
"They (Cosworth and Jaguar Racing) are not mutually dependent in any way," Purnell said.
"Cosworth, it is not a done deal but it is a certainty they will be sold because there is a lot of interest and a lot of players pursuing it. Jaguar does have people pursuing them but it is more complex situation."
10/25/2004 - 10:35 GMT - AFP