Eddie Jordan Sells F1 Team?
Written by George Katinger · January 16, 2005
There have been rumors galore in the recent past about Eddie Jordan selling his team, all of which ultimately proved wrong. Is this more of the same?
reuters.co.uk: Jordan agree deal with Midland boss
grandprix.com: Anderson to be technical director of Midland-Jordan?
bbc.co.uk: Jordan ‘to sell’ Grand Prix team
speedtv.com: Midland to Buy Jordan, Make ‘05 Debut
Not likely, as there are too many good reasons from both the sellers and buyers perspectives NOT to conclude the deal. Eddie will get to see his team continue, albeit under a new name (eventually) and new management. And hopefully make a few dollars. Midland F1 will save the initial new team bond costs ($48 million) and more importantly immediately receive cash flow from the rights holder. New teams do not receive cash subdidies for the teams first three years of existence. And Max Mosely wonders why new teams don’t jump into the series?
Hopefully EJ will have a meaningful continuing role under the new management. His experience and insight are too valuable for any new team to toss aside. Some how large amounts of cash seem to bestow racing wisdom on new owners that is far above that of seasoned veterans in the sport. Just ask Detrich Mateschitz!
It is very difficult for prior owners to continue under new management in any business situation. The old guard resents being ignored and the new boss wants to do things his way. Eddie will be lucky to last out the 2005 season and will definitely be gone for ‘06. With his unbound enthusiasm for the game other team owners may see the benefit of bringing Eddie on as managing director. I’m sure right now certain team principals may already be looking over ther collective shoulders.
Regardless of his future in the sport, we all owe Eddie a collective “thank you” for making F1 a better place because of his prescence. It will be considerably less interesting without it.
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change your calendar on your web page to run from monday through Sunday because that will group the racing weekend into the same search week instead of spliting the race weekend by ending the week on Saturday. I suggested this to SpeedTV and they did it. It makes searching for events easier