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Cosworth committed to Formula One racing 15 Nov 2004

Gianmaria Bruni (ITA) Minardi PS04B.
Formula One World Championship, Rd16, Chinese Grand Prix, Qualifying Day, Shanghai, China, 25 September 2004

The new owners of engine builders Cosworth have insisted they plan on continuing the company’s long association with the sport.

Ford announced on Monday that they had sold Cosworth to Kevin Kalkhoven and Gerald Forsythe, co-owners of the Champ Car World Series and heads of the PKV and Forsythe Championship Racing Champ Car teams respectively.

Kalkhoven revealed that while he and Forsythe have very wide plans for the future of the company, involvement in Formula One racing would continue to form a key part of those plans.

"We are strongly committed to continuing the great F1 tradition at Cosworth and take that very successful heritage into the future," stated Kalkhoven.

The “passing of an era” was how Ford’s Group Vice-President Richard Parry-Jones described the sale of Cosworth, adding: “After competing for over 35 years in the sport in partnership with Cosworth, deciding to exit F1 was a very tough decision for us to make.

“During that time, the Ford-Cosworth relationship has experienced the highs and lows of the sport, but we have also left a rich legacy of victories and championships won by some of the most famous drivers and teams in motorsports history.

"This success would not have been possible without the contribution of our employees, partners, drivers, sponsors and of course the fans. I would like to thank them all, and am reassured that this famous racing name will go forward under the stewardship of Kevin Kalkhoven and Gerry Forsythe. We look forward to a continuing relationship with Cosworth.”

In the immediate future, Cosworth’s involvement in Formula One racing will continue as engine suppliers to Minardi and to Red Bull Racing.