Formula One news

Jordan may sell chunk of team

Jordan owner Alex Shnaider, to rename his formula one team 'Midland' next year, has vowed not to sell the Silverstone based squad at least until a new 2008 Concorde Agreement can be assessed. The naturalised Canadian and billionaire, though, said he might flog off a chunk of the team.

"I would not sell completely," Russian born Shnaider told Motorsport Aktuell. "But it is possible to offer a comfortable bed to your guest without giving them a house."

Shnaider said 'Midland F1' will do with a $100 million budget next year, which would - with the sale of Minardi to energy drink Red Bull - likely make it the poorest in pitlane.

He's openly hanging out for 2008, when a new commercial agreement - allied with FIA rules - will possibly make being competitive a cheaper exercise for independent teams.

more news

• 30 Aug.
  • BMW boss wants both cars in the points
  • Aero updates for McLaren at Spa
  • Heidfeld in determined mood for Spa
• 29 Aug.
  • Hamilton finishes test on top
  • Another accolade for Frank Williams
  • Hamilton relishing Spa challenge
  • Photos: Friday in Monza
  • Former champion Phil Hill passes away
  • Alonso happy with first day at wheel
  • Rosberg hopeful of upward trend
• 28 Aug.
  • Heidfeld on top at Monza
  • Photos: Thursday in Monza
  • Raikkonen to play support role to Massa if needed
  • Renault happy with first day, despite position
  • Weather key to title - Whitmarsh
• 27 Aug.
  • Massa sets pace on first day at Monza
  • Hamilton almost didn't race, confirms Whitmarsh
  • Hamilton 'playing the long game'
  • Photos: Wednesday in Monza
  • Sauber still involved at BMW
  • Toro Rosso to trial Buemi for 09 drive
• 26 Aug.
  • Raikkonen engine problem same as Massa's
  • Trulli confident Toyota can keep fourth
  • Don't write off Raikkonen warns Dennis
  • Ferrari boss takes penalty on chin
• 25 Aug.
  • Ferrari boss defends pit stop actions
  • Alonso feels for Spanish fans
  • Sutil didn't see Massa coming
• 24 Aug.
  • Ferrari celebrates win, but concerns over engines
  • McLaren savours solid performance
  • BMW celebrates return to podium
  • Force India looks for the positives
  • Vettel takes another three points for Toro Rosso
  • Williams back in the points
  • Toyota moves ten points clear in fourth
  • Weekend to forget for Renault
  • Another pointless day for Honda
  • Massa escapes with reprimand
  • Disasterous day for Red Bull
  • Massa delighted, blames Sutil for pit drama

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