Jordan GP to be bought out by Dubai?

[Senna 0]

from planetf1.com:

Jordan GP to be bought out by Dubai?

Monday July 12 2004

Although Eddie Jordan isn't saying 'yes', the Irish team boss has also failed to deny that the country of Dubai could buy out his team in the near future.

The country's intentions to purchase one of the existing F1 teams was made known in a statement released by a senior member of the ruling Maktoum family over the week. Although no teams were named speculation in the Silverstone paddock was that it is either BAR, Minardi or the Jordan team that Sheikh Ahmed bin Saeed al-Maktoum is wanting to own.

"The Emirate of Dubai is pleased to announce that following extensive planning and development, Grand Prix Investments (GPI) is in negotiations to acquire, operate and manage a Formula One team, to be headquartered in Dubai," the statement said.

Sheikh Ahmed bin Saeed al-Maktoum added: "I am delighted to reconfirm my support to GPI and the purchase of a Formula One team, which will then become known as the 'official' Dubai team. This is an exciting time for Dubai and the United Arab Emirates as the team will compete with the very best in motorsport and assist in promoting the country on a global basis."

So far Jordan is the only one of the three teams to have responded to the rumours, although Eddie Jordan would neither rule out nor confirm a move for his team.

"It is clearly not unusual for Jordan to be linked to all sorts of speculation and such like," he told Reuters. "I'm sure the royal family are speaking to a number of different teams and we really have no comment to make at this point."

He added that he would "look at anything to get Jordan back to the top and fighting for wins and a Championship. But of course it would have Eddie Jordan involved in it because it's my life and my passion."