Jordan agrees Toyota deal

Both parties claim that the one-year deal provides the engines at an affordable price, which is believed to be $US7m per season.

Toyota has also stipulated in a statement that its name and logo will not be used in conjunction with those of Jordan Grand Prix, leading to speculation that the engines may be re-badged.

"Toyota are to be commended," said team boss Eddie Jordan. "Not only have they been fantastic to Jordan by agreeing this deal at such short notice, but they have also done the magnanimous thing for the sport by putting Formula 1 above their own exclusivity.

"A supply of Toyota engines is an enormous boost for Jordan and I am very excited about putting together our 2005 package in the coming weeks and months.

"This announcement, along with others coming shortly, will revive the fortunes of Jordan Grand Prix and at the same time I hope we can help Toyota in the battle for World Championship honours."

Autosport sources believe that Toyota was happy to agree a deal because the new-for-2005 long-life engine regulations might otherwise have required it to build less engines and may have led to staff lay-offs.

The Japanese manufacturers' team test driver Ryan Briscoe could well switch to the Jordan team as a race driver although this is not considered to a part of the agreement.

"The decision to supply Jordan Grand Prix with engines was only taken in recent weeks once engine regulations for 2005 were confirmed," said Toyota team principal Tsutomu Tomita. "The to a two-race engine and the recent planned reduction of testing for next year have also contributed considerably to making this deal possible.

"The last-minute nature of this agreement will offer us a real challenge for the upcoming season, but it is one we are happy to take on. We are pleased to be able to offer our services to help another team, given the difficulties that F1 is currently facing, particularly with engine supply."