Monday 24th January 2005

Eddie Jordan completed the sale of his eponymous F1 team to the Midland Group, owned by Alex Shnaider, a 36-year-old Canadian entrepreneur of Russian origin. Many doubted whether Midland were in it for the long term, and so it proved as the team was sold twice more in the next two years. “I have devoted 35 years of my life to motor racing and have had some really fantastic times,” Jordan said. “I came into F1 on a wing and a prayer. No-one gave us a chance. Frank Williams is the only other team owner to have come through the ranks from Formula Ford to F1. I’m immensely proud of that.”