The team’s origins trace back to 1988 when Paul Stewart established Paul Stewart Racing, acquiring the assets of Gary Evans Motorsport Team. Initially competing in British Formula 3 in 1989 with Paul Stewart and Otto Rensing as drivers, the team quickly expanded into European Formula 3000, Formula 3, and Formula Vauxhall Lotus, achieving success with 12 titles and 119 race wins across various categories by the mid-1990s. Jackie Stewart resisted entering Formula 1 until 1996, observing the instability of teams like Simtek, Pacific, and Forti. However, a five-year development deal with Ford, replacing their engine supply agreement with Sauber, prompted the formation of Stewart Grand Prix, with sponsorship from the government of Malaysia. Initial business planning involved consultation with John Barnard and a budget of £24 million.
The team’s first Formula One car, the Stewart SF01, was launched in December 1996. The early cars were powered by Ford Zetec-R V10 engines. The SF01 proved powerful but fragile, contributing to reliability issues throughout the team’s initial seasons. The SF02, used in 1998, aimed to improve performance but continued to suffer from underdevelopment and unreliability. The SF3, introduced in 1999, showed immediate promise, though early engine fragility required conservative running. A new Ford engine was designed and built for the 1999 season after Ford acquired Cosworth in 1998.
Rubens Barrichello and Jan Magnussen were the initial driver pairing for the 1997 season. Barrichello achieved the team’s first podium finish, a second place at the 1997 Monaco Grand Prix. Magnussen was replaced mid-season in 1998 by Jos Verstappen, who struggled to improve the team's performance. Johnny Herbert joined the team for the 1999 season, replacing Verstappen, and achieved the team’s only Formula One race win at the 1999 European Grand Prix. Barrichello also secured a pole position for the team at the 1999 French Grand Prix.
Stewart Grand Prix’s most successful season was 1999, securing one win (Herbert at the European Grand Prix) and one pole position (Barrichello at the French Grand Prix). This performance resulted in a fourth-place finish in the Constructors' Championship with 36 points. The 1997 and 1998 seasons were marked by reliability issues and a lack of consistent performance, resulting in ninth and eighth-place finishes in the Constructors’ Championship respectively.
At the end of 1999, Ford purchased Stewart Grand Prix, renaming it Jaguar Racing. Jaguar Racing was subsequently sold to Red Bull GmbH in 2004 and rebranded as Red Bull Racing in 2005. Red Bull Racing, still operating from the original Milton Keynes facility, has since become a dominant force in Formula One, winning multiple World Constructors' Championships in the 2010s and 2020s.
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