Schnaider denies Jordan sale rumours

By Phil Giles
May 22 2005

Jordan's new owner Alex Schnaider has debunked rumours circulating in the Media that the team recently purchased from it's founder Eddie Jordan is back on the market.

Rumours saying that Eddie Irvine, backed by a group of investors is in the paddock at Monaco to speak to Schnaider about selling the team, however a statement to the press, Alex said:

"It's not true - I don't want to sell the team. There's nothing going on so I don't know where this is all coming from. I was asked theoretically whether it was possible that I could sell the team and I said that everything is for sale."

"We buy businesses, we sell businesses, we buy companies and we sell companies. At the end of the day we're an investment company so obviously things could be sold if the right amount is being offered but nobody has offered me anything."

"We want to keep costs down this year. Next year we're already preparing and spending money. I don't see anything for this year that we would put money in that we would get a good return on investment."

While this isn't a definate "NO" from Schnaider, it confirms that the Midland F1 project is continuing and that work is progressing on next years F1 contender, however it still unclear as to how many ex-Jordan fans will be following Midland next year.