Jordan: Team's Future is Secure

Team owner Eddie Jordan says he has no regrets about his abandoned court-case against Ferrari sponsors Vodafone - and claims his team will be on the grid for many years to come.

Jordan conceded on Friday that Jordan had lost their £150 million (pounds) claim against Vodafone and admitted the decision had hit team morale severely ahead of Sunday's German Grand Prix.

But while Jordan now faces legal costs of as much as £3 million (pounds) for a court case he now admits he regrets initiating, Jordan claims his team will not be affected.

"It is quite simple," said Jordan. "We lost. We realised we had lost and, of course, I regret that very much. We believed in our case and we were wrong. But we are not in danger, we are not giving up and we are going to move on.

"The future of the team is secure and it is not up for sale. We are going to close the door on this and move on."

Sources close to the team made it clear that the case, in which Jordan claimed that Vodafone had reneged on a verbal agreement to sponsor their team two years ago, would not be paid for out of the team's cash-flow, but from previously reserved resources set aside for such an eventuality.