In June 1999, Jaguar's then-parent company, American automaker Ford, purchased Jackie Stewart's Stewart Grand Prix Formula One team for a price variously reported at £65 or £100 million. Ford was already a minority investor in the Stewart outfit and supplied the team with free of charge engines through its then-subsidiary Cosworth. It renamed the team to Jaguar in September 1999. Ford announced a $400 million project to build a unified facility in Silverstone for its engine and constructor operations, but these plans never came to fruition, and Jaguar remained in Milton Keynes.