Jordan GP sold to Dubai royal family

[The Doctor]

http://www.grandprix.com/ns/ns13313.html


The Sunday Times in London reported at the weekend that Eddie Jordan has agreed terms to sell his team to the Dubai royal family. Our understanding is that the deal has been agreed but will not be completed for a couple of months while the financial details of the arrangement are sorted out. Our understanding is that Jordan will remain as a shareholder in the team with equity in the region of 15%. He will also retain management control for a period of time, which we believe is two years. This period could be extended if the new owners want to keep Eddie running the show.

If the deal goes ahead the team will be rebranded next season, although it is anticipated that the new owners will be keen to invest in rebuilding the operation, one of the first steps presumably being to start construction work on the new factory that has been planned for some time.

The original plan was for the old factory to be converted to house a new windtunnel but hat will not happen for at least two years. The team owns a big chunk of land next to the factory and planning permission was applied for as long ago as August 2000. The only complicated factor at the time is that the Jordan factory sits right on the border between Buckinghamshire and Northamptonshire and so it was necessary to have two applications rather than one. It is not clear what happened to those applications.


Read at speedtv that team could be renamed Team Dubai, moved to an Arab state. Major investment planned. Jordan stays on for two years seems to be a definite, running the team in the interim. Hopefully this lifts the team out of row nine soon.

[Steve99]

Moving the team out of England would seem to be big undertaking. Minardi would probably move forward 2 spots on the grid each week.

[RTKar]

"Team Dubai"...first countries tried to get races , now they buy teams...the ultimate ride buyers :saywhat: First it was corporate ownership,now it's nations.... BTW EJ blew his chance to take his team into the top echelon of F1, something F1 definitely needs, another top team, maybe this will be a good development but I sense this will be some princes play toy for a couple years and then it'll be sold off once again.

[Turn7]

The sponsor is going to be Camel.

http://images.kaleden.com/thumbnails/ODG136418634.jpg

[RTKar]

The sponsor is going to be Camel.http://images.kaleden.com/thumbnails/ODG136418634.jpg

Dromedary?

[Methanolandbrats]

Moving the team out of England would seem to be big undertaking. Minardi would probably move forward 2 spots on the grid each week. Yup. Who's gonna want to join the team and live in that ****hole. Not to mention the logistical problems with suppliers.

[tomahawk]

What happens to the Jordan girls? :cry:

I guess Katie Price and Melinda Messenger will have to move to another team...or wear burkkas.

Hopefully another team will pick them up...

:tomahawk

[Lizzerd]

A bunch of Irishmen moving to an Arab state???? :saywhat: :rofl: :rofl:

But, the article doesn't say they will be moving.

[Ankf00]

Yup. Who's gonna want to join the team and live in that ****hole. Not to mention the logistical problems with suppliers.
me.

[Carol]

Fact is, this is just so much hot (desert) air. See here: http://www.pitpass.com/fes_php/pitpass_news_item.php?fes_art_id=21884

[pinniped]

I hope it happens...would be interesting. These guys at least have some dough, Eddie clearly wants to retire, and it would be amusing. But I have to believe that a bunch of wannabes whose sole credential is that they have a lot of money, buying into something that they know nothing about, and then trying to compete in that arena, is just nuts. Countries, sponsors, even car companies rarely make good team owners (unless they are from old Europe where the value of such things as f-1 are known)...add in rich oil dudes to that list...

[eiregosod]

if some UAE prince is going to think he is going to successflly run an F1 team, well he might actually do better than young Benetton a few years back.

I'm not sure what Jordan need, but they probably need a serious upgrade of all testing facilities, wind tunnell, post rigs, engine etc...

with a lot of money, they could attract a major manufacturer to build engines for them, ala BAR & Honda (why did Honda side with BAR for 2000 when Jordan were on their way to 3rd place in 1999 , the moula :p )

[Lizzerd]

I think it would take more than an oil field of money to attract a major engine deal. You still need the brain power and other quality people to design and construct a respectable chassis and facility so as not to embarrass your power plant partner.

[Ankf00]

Yup. Who's gonna want to join the team and live in that ****hole. Not to mention the logistical problems with suppliers.
dubai's a ****hole? :laugh: sure dude.

[pchall]

Dromedary?


Your kidding? They want to use a desmodromedary valve train? :D

BTW, I heard a story on the BBC World Service about the importance of the motorsports industry -- especially F1 -- to the British economy. They were concerned with the large sucking sound coming out the new F1 markets (Malaysia, China, Dubai, &whatnot) that might greatly affect the industry in Britain.

[RichK]

Your kidding? They want to use a desmodromedary valve train? :D


Ha ha! Maybe Camel will sponsor a Ducati team?
:D