The official announcement that Red Bull has purchased the Jaguar Racing F1 team is fantastic news for Formula One.
After weeks of speculation, we can all, especially the 300 employees in Milton Keynes, breathe a sigh of relief as the deal whereby Jaguar - albeit under a different name - will line up on the grid in Melbourne next March.
It is doubtful whether there will be too many moist eyes as Ford exits Formula One, stage right, for in all honesty the company has made a complete balls up of its racing activities for many years, particularly outside the United States.
The Jaguar Racing 'experiment' was a disaster from start from to finish, mainly due to the ham-fisted management operating out of Dearborn.
Having bought a team that was on the up (Stewart), Ford managed to make disastrous mistake after mistake wasting many millions and achieving nothing. Under Ford's management, Jaguar Racing will be remembered more for the numerous fiascos than the few achievements.
This is not a reflection on those employed by the team, certainly in most instances, but on the shambolic management emanating from the US.
However, let's not dwell on the negatives, the 'Wicked Witch' is gone, and salvation arrives in the form of an energy drink manufacturer, with wings.
The fact that Jaguar will survive is one facet, however to me, it is the fact that Red Bull has purchased the team that is most significant.
Today's deal proves that there is money - other than tobacco money - out there.
This isn't merely a sponsorship deal, this is an energy drink manufacturer buying an F1 team, and convincing the previous owner (Ford) that is has the necessary financial backing and business acumen to continue racing and hopefully thrive.
The fact that F1 must learn to live without tobacco is a forgone conclusion, and no matter what tiny corner of the planet Bernie attempts to sell F1 to next, the fact is that the writing is on the wall. F1 must give up the weed.
Some of the teams, to their credit, have already given up, opting to put in a little hard work rather than settling for the easy (often better funded) option, however the fact remains that within a few years all the F1 teams will have to survive without 'fag money'.
A few years back, it looked as though the World Wide Web might be the answer, sadly, as some of us know from personal experience, this was not to be.
Now, on the back of today's news that an energy drink, which has been existence for just twenty years, is buying its own F1 team, we can only hope that other similar sponsors will be attracted to the sport.
Several high profile sponsors have looked at F1 in recent years but have admitted to not wishing to get involved while tobacco still had a grip of the sport, today's announcement could (hopefully) spark a new age in F1 sponsorship.
In addition to rival drink manufacturers, such as Coca-Cola and even alcoholic drinks manufacturers, there are many global corporations that could - with a little hard work - be attracted to F1.
That said, the sport would need to clean up its act, and the teams would have to come back a little closer to reality when preparing their budgets.
Today we have witnessed what could be seen as a historic move as far as F1 is concerned. 300+ people get to keep their jobs, we retain ten teams on the grid for 2005, while a young company gives the sport an enthusiastic thumbs up, a multi million pound vote of confidence.
All in all, a great day for F1, well done Red Bull.
{url=mailto:editor@pitpass.com?subject=red_bull pphotlinkhighlight }Chris Balfe
Editor
