Grapevine: Abramovich Linked with Jordan Buyout

Chelsea owner Roman Abramovich was on Sunday linked with a sensational bid to take over the Jordan Formula One team in time for the start of the 2004 season.

Abramovich, who took over as chairman of English Premiership football team Chelsea last summer, has met with team owner Eddie Jordan and insiders claim a deal is on the table for the Russian to take his mighty spending power into Formula One.

"I met Roman Abramovich at a Formula One race last season and have also met him at a football match," said Jordan. "I am very excited by the level of interest in Formula One at the moment and that includes interest in Jordan."

The team refused to confirm discussions with Abramovich, whose millions have hauled Chelsea into contention for the Premiership title, but sources suggest that there have been several meetings between Jordan and the oil tycoon since October.

A major shareholding in the Silverstone-based outfit was purchased by a mystery consortium last year (2003) but Jordan, whose team have won four times in their 13-year history, has made no secret of the fact he would be happy to sell if the right bidder came along.

At the season-opening Australian Grand Prix last year, he said: "if it meant the team were to be successful and win again I don't actually need to own the team. I want to stay involved but if a really big deal came along that gave Jordan the opportunity to win quickly of course I would look at it."

Jordan slumped towards the back end of the grid this year as tightening budgets reduced the privateer teams' testing time and development capacity and allowed the big budget manufacturer-backed teams to stretch their legs at the other end of the field.

The team managed to win one race in 2003, the Brazilian Grand Prix, in bizarre circumstances when the event was stopped with Giancarlo Fisichella in the lead but they finished the year ninth in the Constructors' Championship in their worst season ever.

Abramovich is known to favour Formula One over football and a takeover would be timely not only for the team but also for the sport, which is strengthening and developing more interest from sponsors with McLaren-Mercedes and Williams-BMW threatening to end the Ferrari dominance this season.