Jaguar defiant over budget

Webber is set to leave Jaguar for Williams at the end of the season

Jaguar team boss David Pitchforth insists his outfit will have the budget to be competitive next season.

The team's future had been questioned amid rumours of a buy-out and claims that owners Ford were uncertain about their involvement in Formula One.

Poor results this season has also led to speculation that the team's major backers, which include HSBC, would go.

But Pitchforth said: "I've put in my budget for next season and we have a budget that will make us competitive."

Ford, who gain exposure in F1 themselves through their engine supply deal with Jordan, has continually questioned Jaguar's participation in the sport.

Tales from the pit lane

Their uncertainty was fuelled by the amount of money required to compete on a level with leading manufacturer teams such as Ferrari and Renault.

World champions Ferrari spend around $600m a year to continue the incredible run of success that has seen them achieve six successive constructors' world titles.

Jaguar's budget for 2004 is estimated at a comparatively meagre $180m - and their performances reflect their limited funding.

Button row delays Jaguar

This year, despite having highly-rated Australian Mark Webber in their car, they currently sit in seventh position out of the 10 teams on the grid with just 10 points - compared to Ferrari's record haul of 234.

Webber will switch to Williams for 2005 but Jaguar are awaiting the outcome of the BAR-Williams dispute over Jenson Button's contract before deciding who to opt for.