Cosworth put up for sale Kevin Kalkhoven has put his California house up for sale, downsized his IndyCar team, and now he and Gerald Forsythe have put Cosworth up for sale. Are times tough or have both decided to divest their business interests and settle into a retirement mode.........or are the rumors true that Kalkhoven wants to buy IndyCar along with Tony George and he needs the money to complete the deal?
The company had been waiting to test the market with a flotation, but the owners have now instructed UBS to find a buyer for the business renowned for being powerhouse in the world of motorsport engineering, The Times reports.
Having lost its best F1 customers Williams and Caterham, in recent months it has been discussed as an open secret in the grand prix paddocks that the independent British engine supplier will not be on the grid in 2014 with a new turbo V6 power unit.
Cosworth, however - still supplying V8s to backmarkers Marussia and HRT - insists it has a plan to stay in F1 beyond the current rules, even though rumors persist that it is not up to speed with the kind of progress made by its 2014 rivals Ferrari, Renault and Mercedes.
British newspaper The Times now reports that Cosworth, currently owned by well-known US motor racing names Gerry Forsythe and Kevin Kalkhoven, has instructed UBS to find a new buyer.
And the Telegraph reports that Rolls Royce could be at the front of the queue to buy Cosworth, thanks to the engine maker's new links in the aerospace industry.
Another potential buyer is GKN, a British aerospace company.
Cosworth's chief executive Tim Routsis said: "We have been paused for the last 18 months and the board has decided that we cannot wait any longer otherwise we risk losing momentum."
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