31/08/2004
NEWS STORY
Once again a newspaper article has triggered off a spate of stories concerning the "imminent" sale of the Jordan team to a Dubai consortium.
The latest news item to send the media into overdrive is to be found in the Irish Independent which claims that Eddie Jordan will find out "later this week" if he has been successful in selling the team.
The big difference as far as the new story is concerned is that Jordan is no longer selling the team to the Dubai royal family but to a consortium based on Dubai, this consortium is Grand Prix Investments, the outfit headed by Jenson Button's manger John Byfield.
The article states: "Grand Prix Investments, registered in Dubai, has the blessing of the Dubai royal family in its efforts to finance the purchase of a Formula One team", this of course is in contradiction to the plethora of reports suggesting that it is the royal family that intends buying the team.
According to our sources GPI is busy attempting to find the necessary funding but is finding things much harder than it anticipated, there is even talk of some form of rights issue, though we understand that this could be at odds with Dubai law.
Meanwhile, Eddie Jordan maintains radio silence.