Eddie Jordan’s eponymous F1 team looks set to be sold to nationalized Canadian businessman Alex Shnaider as the basis for his Midland F1 team.
It has been suggested Shnaider has decided to purchase Jordan to avoid having to pay the $48 million entrance fee required of all new participants competing in F1.
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Christian Horner, owner of 2004 F300 champions Arden International, was in negotiations to purchase Jordan before the deal fell through at the last minute with Horner signing on to run the new Red Bull Racing team out of the ashes of Jaguars woeful, and highly publicized, venture into F1.
With Horner Out of the picture rumours abound that Shnaider has been seen entering Jordan’s Silverstone, UK headquarters over the last week.
Shnaider was originally set to start his own team from scratch, with Carlin F3 team boss Trevor Carlin, in 2006 running Italian-made Dallara chassis. Dallara last worked in F1 building Honda’s test mule for their re-entry into the world championship in 2000.
Russian-born Shnaider is a phenomenally wealthy entrepreneur and owner of the Midland Group, a global company with their hand in everything from shipping to real estate. He currently resides in Canada where he made the majority of his vast fortune.
It is still unclear whether Jordan would remain with the team after the sale to Shnaider, although Jordan has alluded to remaining with the team on the commercial side of operations.
While still not official, a statement regarding the purchase, and Eddie Jordan’s future in F1, is expected in the next week.
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