A report in The Sun suggests that F3000 champion Arden International is on the verge of making a bid for the Jordan F1 team.

Although reports regarding F1 in The Sun should not be taken that seriously, at least the story appears to clear up the long-running mystery regarding the supposed Arab buy-out fronted by Jenson Button's manager, John Byfield.

According to The Sun, Arden International boss Christian Horner is prepared to make a £30m bid for the Silverstone outfit.

"We are investigating all opportunities to move into F1," says the Englishman, "and Jordan would be a perfect team.

"I want a sensible price," he adds. "I don't want to come on to the grid to sit at the back."

Horner has made no secret of his desire to move up to F1, however the sheer costs involved, including the bond that has to be lodged with the FIA, make entry prohibitive.

By purchasing the team, its name and its debts, outright, Horner would not have to pay the bond, he would also have a ready-made F1 team set up and ready to go.

According to the report, Horner would continue to run the team from its Silverstone base and would retain most of its 200 staff.

It's understood that Horner met with Jordan at Monza, where Arden won the last ever F3000 race, and came away feeling that a deal can be done before the end of the season.

The Daily Telegraph is running a similar story, however earlier this month it was claiming, along with several other newspapers and websites, that the sale of the Irish team to a Dubai-based consortium - led by Byfield - was imminent.