Official: Eddie Jordan sells to Midland
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OFFICIAL - EJ SELLS TO MIDLAND
Last Updated: Monday, 24, January, 2005, 12:08
Jordan have finally agreed terms with Midland for the takeover of the team.
The team will continue to be known as Jordan Grand Prix in 2005, but it is likely to be renamed Midland F1 the following season.
As expected, Eddie Jordan will remain involved with the team in a commercial capacity.
He said: “I have devoted 35 years of my life to motor racing and have had
some really fantastic times.
“The last fourteen years when I have been lucky enough to be involved in Formula 1 have been a highlight, naturally, and winning our first Grand Prix in 1998, which broke the grip that the top teams of the time had on the sport, is for me a personal triumph.
“I have to thank Bernie Ecclestone for making the introduction to Alex Shnaider of Midland F1 as I wholeheartedly believe that Midland joining with Jordan will make the team stronger.
“I spoke to a number of interested parties in recent months and these are absolutely the right people. They are totally committed and as we look to the future, we will see this team return to the competitiveness we have proved we are capable of.
“The sport and the required resources have changed and this deal provides the team with the security and strength it needs.
“I’m glad that for the time being we keep the Jordan name and I am also delighted to confirm that I will remain involved with the team and will be working with Jordan in a variety of commercial and sponsorship capacities as we move forward.”
