Red Bull buy Jaguar Racing from Ford for nominal $1

On 15 November 2004, Ford confirmed the sale of Jaguar Racing to Red Bull, ending its troubled factory project in Formula 1. Ford also sold engine builder Cosworth to Champ Car owners Kevin Kalkhoven and Gerald Forsythe. No official transaction figure was published, but Ford reportedly sold the team for a nominal $1, on condition that Red Bull fund operations and invest what is believed to be $400 million over the following seasons.

Ford had announced its exit from F1 in September 2004, after concluding there was no longer a compelling business case for its brands to stay in the championship. Jaguar's struggles were linked to rising costs and financial strain across Ford's road car business. Technical director Gary Anderson later blamed Ford's internal bureaucracy more than a lack of resources.

Red Bull founder Dietrich Mateschitz described the takeover as a provisional summit of the company's ten-year involvement in motorsport. Less than a year later, Red Bull also acquired the Minardi team from Paul Stoddart, with ownership transferring on 1 November 2005.