Report: Cosworth is Up For Sale
For many years, Cosworth has been providing Formula One teams with high-performance engines and rumors have been floating around that it may pull out when the new F1 engine standards take hold in 2014. When Williams chose to drop Cosworth as its engine supplier in 2011 and switch to Renault, it looked like the nail had been firmly driven into Cosworth’s F1-racing coffin. Cosworth continued on with only two teams using its engines – Marussia and HRT – and its current owners have reportedly seen enough.
A report out of the UK-based newspaper, The Times, is stating that the famed engine builder’s owners have chosen to sell the company. According to the same report, Rolls-Royce is being tossed around as a potential suitor for the high-performance engine builder. The reason Rolls-Royce comes up is because Rolls is also one of Cosworth’s key customers in the aerospace side of its business. That would immediately give Rolls-Royce a leg up in the aerospace industry and net it a leg up in auto racing as a byproduct.
There are several other names floating around, like British aerospace company, GKN, but Rolls is certainly the front runner at this point. The fact that it can also benefit from the automotive engine technology could really push Rolls to up the ante and give Cosworth’s owners a fair bid. Whoever chooses to buy the automotive and aerospace company needs to work fast, as it will need to have an engine build and tested in time for the 2014 F1 season, if it hopes to compete.
We’ll keep an eye on how things shape up and let you know if any other bidders arise. Hopefully this doesn’t turn into a Saab-like situation.
Source: The Times