Jordan not sold yet

There has been a flurry of speculation in recent days that Eddie Jordan has sold his team to Midland boss Alex Shnaider but Jordan said a deal has not been done -- at least not yet. Shnaider, who is behind the fledgling aspirations of the MidlandF1 team, has met with Jordan and the Irishman can see possibilities in an involvement.

Eddie Jordan.

Photo by Dave Dyer.

"We are still talking to a couple of people. I have sold nothing, I own the team," said Jordan. "I would be happy to bring aboard new partners even if it meant diluting my own equity stake in the company, if it meant we could get back to the situation where there was a possibility of winning races."

In regard to Shnaider, Jordan commented: "Nothing has been done at this stage but I have met Alex a couple of times and I like him. I believe he would gain something from an involvement with Jordan and he is certainly someone who would be able to help the team become more competitive."

Last year MidlandF1 announced its plans to join the F1 championship in 2006 and the intention was to build a team from scratch. However, buying Jordan would enable Shnaider to side-step the FIA entry fee and would also give the new team rights to F1's television income.

Recently Jordan was thought to have agreed a deal with Arden's Christian Horner to buy the team but that fell through and Horner has since been confirmed as sporting director for Red Bull. It's been reported that Jordan and Shnaider have only to sort out the paperwork before an announcement is made, but let's wait and see.