Jordan Set to Announce DHL as Title Sponsor

The Jordan Formula One team are expected to announce international haulage company DHL as their new title sponsor at their launch next Friday.

Current title backers Benson and Hedges have decided to reduce their financial input to the Silverstone-based outfit, and have signed a deal for 2002 with an option for 2003.

Tobacco advertising will be banned in 2006, and Jordan have been forced to look elsewhere for cash to fund their 2002 campaign.

Current sponsors Deutsche Post, who own a controlling interest in DHL, are set to use their status as the team's biggest financial providers to promote their high-speed delivery service.

When asked if the company would become Jordan's title sponsor, a spokesperson for DHL said: "I understand that to be the case."

The launch of the new Jordan EJ12 car will take place next Friday in Brussels, the location of DHL's main heaquarters, and is organised by Deutsche Post.

But the team are remaining tight-lipped in the build-up, although a source has confirmed they will have a new title sponsor.

Jordan's Head of Marketing, Mark Gallagher revealed it will "definitely not be Deutsche Post Jordan Honda."

And Benson and Hedges spokesperson Michelle McKeown added: "We are no longer the title sponsor but we are going to be with Jordan in Melbourne as secondary sponsors.

"We are still a sponsor for Jordan this season but with the impending EU sponsorship restrictions we are making a reduction.

"It has always been our intention to de-escalate, and we have signed a deal for this year with an option for next year."

That means it is likely that Jordan will suffer a reduction in the income from their two main sponsors this year as the recession continues to bite in Formula One.

"Deutsche Post do not have title sponsorship of the team but their investment is one of the largest there is in Formula One," said Gallagher.

"They are our biggest sponsor alongside Benson and Hedges - and the yellow on the Jordan is every bit them as well as Benson and Hedges."

The team had a budget estimated at £120 million (British pounds) last year, but have brought in a specialist company to trim off the fat from the company and make it run more efficiently this year.

There were 240 staff at the Silverstone factory at the start of last year, but more than ten have been made redundant as the team tightens its belt.

Jordan will, however, also announce three new sponsors at the launch in Brussels, each one a Europe-based multi-national.