Jordan considering manufacturer investment

Jordan considering manufacturer investment

Eddie Jordan would be open to offers from a manufacturer looking to invest in his team but insists he is not willing to sell out completely. Jordan has struggled with finances and an uncompetitve car this season and the Irish boss doesn't want to...

Eddie Jordan would be open to offers from a manufacturer looking to invest in his team but insists he is not willing to sell out completely. Jordan has struggled with finances and an uncompetitve car this season and the Irish boss doesn't want to see the situation continuing. A manufacturer investor could solve some of his problems.

Eddie Jordan.
Photo by Jordan Grand Prix.
"There is an argument which suggests I might be better off flogging off a good chunk of the business to a manufacturer," Jordan told Ireland on Sunday newspaper. "Doing it that way and becoming aligned with somebody, like McLaren have done with Mercedes."

"I have to face up to reality soon and ask if that is the best way or not because I am not prepared to continue like this. I could have done it in 1997, sold out to Honda, but I felt I would have been letting a lot of people down."

Jordan sold a 40% stake of the team to investment company Warburg Pincus a few years ago and he now thinks Warburg would sell its holding for the right price. "I'm open to speaking to a major car manufacturer about participation but not open to offers for sale," Jordan explained. "Any new investor would be a replacement for Warburgs."

"If a manufacturer wanted a majority stake then I could make it up. Of course that would depend on Warburgs looking for an exit which they would probably want depending on the price. So there is an opportunity to gain their minority shares and if there is a proper manufacturer who wants a majority stake then you would take the difference up with me."

Jordan recently failed to win a court case against phone giant Vodafone, an outcome that cost the team a lot of money. Aside from Giancarlo Fisichella's unusual win in Brazil, the team has only scored one point, Ralph Firman in Spain, and is currently eighth in the Constructors' standings. Fisichella will leave the team at the end of this season to join Sauber in 2004.

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About this article
Series Formula 1
Drivers Giancarlo Fisichella , Eddie Jordan , Ralph Firman
Teams Mercedes , Sauber , McLaren , Jordan