Last week British newspapers carried reports that MFI was up for sale for £1 - that's right £1 - however, this applied to the somewhat downmarket manufacturer, and retailer, of flat pack furniture.

This week there is growing speculation that MF1, the Formula One team, is also in the process of changing hands, though for considerably more than £1.

The purchaser is a Dutch consortium, led by Lost Boys founder Michiel Mol, and it's understood the deal could go through before this weekend's Turkish Grand Prix.

However, the added 'big news', at least according to Pitpass' sources, is that Mike Gascoyne (right) is linked with the Silverstone-based team, the Englishman having spent time at Dadford Road as Jordan's chief designer.

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MF1, MFI and Gascoyne

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