Jordan holds China talks
Flamboyant team boss Eddie Jordan has returned from a 24-hour trip to Beijing in China after holding talks with potential buyers for his Formula 1 team, as the outfit gears up to secure its future in the next 10 days
With the team closing in on a deal to secure a supply of Toyota customer engines next year, Jordan has been working hard behind the scenes to find potential investors to boost the outfit's financial situation.
Part of those plans included his trip to Beijing, where he met with Guo Jie, the president of a Beijing-based property development company who is heading a group of Chinese businessman considering an involvement in F1. It is believed that a possible deal could lead to the Jordan outfit being renamed Team China.
Speaking to Chinese newspapers on Thursday, Guo's official spokesman said that the group was seriously interested in a deal with Jordan after an offer to buy Jaguar was rejected.
Luo Jifu said: "We have been toying with the idea (of buying an F1 team) early this year but it wasn't until the huge success of the Chinese Grand Prix that we seriously pursued the idea. Looking at the huge commercial interest generated in Shanghai, we realised that a Formula 1 team backed by China could also enjoy business success."
Luo confirmed that the company had seriously considered a deal with Jaguar, but its overtures were turned down by the team's parent company.
"Ford insisted on including Cosworth Racing, their racing engine subsidiary, in the deal," said Luo. "So we shifted our focus on Jordan, who are more accessible and hopefully will be cheaper as well."
The Chinese bid is believed to not be the only one considering buying into Jordan, however, with F3000 team boss Christian Horner also said to be looking at taking over the team.
An exclusive report in this week's Autosport magazine claims that Horner has backing from venture capitalists willing to fund the deal - although there is also the possibility that the Horner and Chinese bids could be merged.
The times that suggest Verstappen should be confident of F1 Russian GP recovery
For the second race in a row, Mercedes has ended the first day of track action on top. It’s in a commanding position at the Russian Grand Prix once again – this time largely thanks to Max Verstappen’s upcoming engine-change grid penalty. But there’s plenty to suggest all hope is not lost for the championship leader at Sochi
The ‘backwards step’ that is the right move for Formula 1
OPINION: With its days apparently numbered, the MGU-H looks set to be dropped from Formula 1’s future engine rules in order to entice new manufacturers in. While it may appear a change of direction, the benefits for teams and fans could make the decision a worthwhile call
The floundering fortunes of F1’s many Lotus reboots
Team Lotus ceased to exist in 1994 - and yet various parties have been trying to resurrect the hallowed name, in increasingly unrecognisable forms, ever since. DAMIEN SMITH brings GP Racing’s history of the legendary team to an end with a look at those who sought to keep the flame alive in Formula 1
Why the 2021 title fight is far from F1's worst, despite its toxic background
OPINION: Formula 1 reconvenes for the Russian Grand Prix two weeks after the latest blow in ‘Max Verstappen vs Lewis Hamilton’. While the Silverstone and Monza incidents were controversial, they thankfully lacked one element that so far separates the 2021 title fight from the worst examples of ugly championship battles
How F1’s other champion to emerge from 1991 thrived at Lotus
Mika Hakkinen became Michael Schumacher’s biggest rival in Formula 1 in the late-90s and early 2000s, having also made his F1 debut in 1991. But as MARK GALLAGHER recalls, while Schumacher wowed the world with a car that was eminently capable, Hakkinen was fighting to make his mark with a famous team in terminal decline
The forgotten F1 comeback that began Jordan’s odyssey
Before Michael Schumacher – or anyone else – had driven the 191 (or 911 as it was initially called), Eddie Jordan turned to a fellow Irishman to test his new Formula 1 car. JOHN WATSON, a grand prix winner for Penske and McLaren, recalls his role in the birth of a legend…
The squandered potential of a 70s F1 underdog
A podium finisher in its first outing but then never again, the BRM P201 was a classic case of an opportunity squandered by disorganisation and complacency, says STUART CODLING
The other notable Monza escape that F1 should learn from
OPINION: The headlines were dominated by the Italian Grand Prix crash between Max Verstappen and Lewis Hamilton, who had the halo to thank for avoiding potentially serious injury. But two days earlier, Formula 1 had a lucky escape with a Monza pitlane incident that could also have had grave consequences
