Agent Requested Jordan Fee for Vodafone Deal
An agent at the centre of the negotiations between Eddie Jordan and Vodafone requested a $15 million payment from both parties, Sports Business reported today.
An agent at the centre of the negotiations between Eddie Jordan and Vodafone requested a $15 million payment from both parties, Sports Business reported today.
Sports Business said the High Court heard on Wednesday, that Joe Kieser, chief executive of Brown - the company originally hired by Vodafone - admitted that his firm had requested a $15 million agency fee from Jordan for securing the Vodafone sponsorship deal.
The revelation that Kieser had asked for the funds from Jordan may be significant because an agency fee is normally associated with introducing a sponsor, Kieser told the court. Vodafone were copied in on the fax of Kieser's agency fee request to Jordan, he added.
The lawyers working for Jordan argued this is a clear indication that Jordan was very close to securing the Vodafone deal, allegedly confirmed in a telephone call by David Haines of Vodafone to Eddie Jordan on March 22, 2001, with the words "you've got the deal".
Jordan is claiming up to £150 million in compensation from the three-year sponsorship deal he claims to have signed, with Vodafone eventually securing a £110 million tie up with rival team Ferrari at the last minute.
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