Autoblog

In a move that will shock nobody who follows Formula One, it appears as thought Eddie Jordan has agreed to a deal to sell his struggling F1 outfit to the Midland Group. The Jordan team will run the 2005 season as Jordan-Toyota, and Eddie Jordan will remain involved, but will become Midland F1 at the end of 2005. Over the past 14-years, Eddie Jordan, has been a very colorful figure in the F1 paddock, bringing a brighter, more casual, more entertaining element to the often tight and stuffy world of Formula One. Since 1991 Jordan has been responsible for bringing many young talents into F1, perhaps most notably Michael Schumacher, and were most successful in the late 1990's with a handful of victories and a third in the Constructors Championship in 1999. Since then, it has been a painful decline for Jordan, who has appeared to be on the brink of bankrupcy several times since 2002, and has made no secret of his desire to sell to a proper investor. Hopefully, Midland will be that investor, and bring the remnants of Jordan back to it's late-90's prominence