Tyrrell exits F1

LONDON: The famous name of Tyrrell will disappear from racing at the end of next year following the team's sale to British American Racing, which is half-owned by the BAT tobacco company.

Tyrrell has not won a Grand Prix since 1983 but was hugely successful in the first six years of its existence with Jackie Stewart winning 25 Grands Prix from 1968 to 1973.

At the age of 73, and with mounting debts, team owner Ken Tyrrell has accepted a reported $50 million to take up retirement.

Meanwhile, tobacco sponsorship will continue to be permitted in European Grand Prix races until the end of 2006.

A meeting last week of European health ministers in Brussels voted to permit Formula One a special exemption from an overall tobacco sponsorship ban.