Saturday January 15th, 2005

By Anthony Rowlinson and Jonathan Noble

Eddie Jordan has agreed to sell his team to Russian-born businessman Alex Shnaider, Autosport.com reveals today.

According to sources, the deal will see Shnaider, who planned to enter Formula One in 2006 with the Midland F1 team, take control of the Silverstone-based Jordan team. Shnaider will be team principal while Eddie Jordan is expected to remain as commercial director.

The future of the Jordan team has been under doubt for some time now, with many rumours surrounding the Silverstone-based team. But Jordan has told Autosport.com: "No deal has yet been finalised, but my role will change."

According to sources, the announcement of the buyout will be made by next weekend. The team's name is also yet to be confirmed, with suggestions that it could be renamed "Midland Jordan".

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Published at 22:32:42 GMT

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