In the 1999, Ford decided that Jaguar would be the corporation's Formula One entry. Ford bought out the Milton Keynes-based Stewart Grand Prix team and rebranded it as Jaguar Racing for the 2000 season. The Jaguar F1 program was not a success however, achieving only two podium finishes in five seasons of competition between and . At the end of 2004, with costs mounting and Ford's profits dwindling, the F1 team was seen as an unneeded expense and was sold to Red Bull energy drinks owner Dietrich Mateschitz, and it became Red Bull Racing.