Jordan to sell?!?!

Töpher · 02-09-2003 2:19pm #1

According to ITV teletext page 481 earlier today, EJ said he is considering selling... he said "I cant go on like this anymore", or something else that sounded suicidal. Wonder which way this'll go!

mike65 · 02-09-2003 2:36pm

Would'nt blame him he's made his pile and has a great life
but I doubt he could completly break from motorsport..I wonder which car company would buy Jordan.

Rover-Jordan?
PSA-Jordan
Honda- Jordan er....
Buick-Jordan! Thats the one!

Mike.

zeris · 02-09-2003 3:58pm

Jordan-<some chinese manufacturer>?

dod · 02-09-2003 4:12pm

Durex-Jordan, their new slogan might be "We fail more often than you'd think from our PR"

Or Andrex-Jordan- "We're shit"

Töpher · 02-09-2003 7:35pm

http://www.itv-f1.com/news/news_story/17439

proper article on it...

Woden · 03-09-2003 4:48pm

Hmm big difference from selling part of the team to the whole team, i'd say it would do jordan good to get into bed with a manufacturer, perhaps they could get a decent engine then

The Beer Baron · 03-09-2003 6:05pm

i'd say it would do jordan good to get into bed with a manufacturer, perhaps they could get a decent engine then

sooner the better.
while they still have a team.

AngelofFire · 04-09-2003 12:08am

it would be good if he good sell a large portion of shares to roman abramovich whos already stated that he is interested in f1. Think of what jordan could do with all the money. they could upgrade the Research and development facilities and hire world class aerodynamicists. It would also be good from a sponsorship point of view having a name like abramovich in f1.

zeris · 04-09-2003 4:23pm

I am not sure if money would solve Jordans woes. If Abramovich was to sink cash into Jordan, I think Eddie would be out. Maybe a more figure head job. Maybe EJ should sink some of his personal wealth into the team, help him focus.

EJ saying he wanted Mercedes engines earlier this year. And rumours of Nick Heidfeld (a Merc driver) going the Jordan. But Jordan still has one year left on their Ford contract and Ford also said earlier this year that they wouldn't be too keen to break the contract. This is after all the effort and "fanfare" that went with EJ getting these Ford engines just last year. Jordan needs to get into bed with a manufacturer. No more customer engines nonsense. But no amount of backing is going to want a engine company take the risk of going with Jordan. Right now, I wouldn't place Jordan as a safe bet, no matter how much they fall back onto their "winning" history. It seems a very long time ago that they where 3rd in the constructors.

Its not just money thats needed, but a management change. EJ seems unaware of how bad his car is or how to fix it. Teams die because of bad management. Taking your eye off the team and letting Mike Gascoyne go is one example. Not retaining the Honda engines. Dropping Hamidy because last years car was poor. What does that say about this years car and the return of Anderson. All that madness with HHF. The Vodafone lawsuit.

Still, remarkable car, the Jordan 191. Beautiful plumage.

Blue Candrel · 06-09-2003 8:14pm

EJ should go back to basics and bring back an updated version of the 191. It preformed past all expectations last time, chances that it'll do that again?

chernobyl · 06-09-2003 9:25pm

Originally posted by zeris
I am not sure if money would solve Jordans woes. If Abramovich was to sink cash into Jordan, I think Eddie would be out. Maybe a more figure head job. Maybe EJ should sink some of his personal wealth into the team, help him focus.

Money may not solve all his problems but it wouls certainly go a great distance. He could get 2 genuinely quick, no strings [sponsorship] attached drivers. Invest in a new windtunnel and relieve himself of the Ford fiasco [worth $15m a year apparently]...expensive mistake.

Originally posted by zeris
EJ saying he wanted Mercedes engines earlier this year. And rumours of Nick Heidfeld (a Merc driver) going the Jordan. But Jordan still has one year left on their Ford contract and Ford also said earlier this year that they wouldn't be too keen to break the contract.

I think its 2 more years [think] and Ford simple refused any settlement and wanted all their money. Flat no, basically.

Originally posted by zeris
Mike Gascoyne go is one example.

Sam Michaels/Schumi/HHF/etc etc

Ej has genuinely had luck on his side. For every fuk up, something brilliant has happened. Thats my perspective.

AngelofFire · 07-09-2003 9:42pm

The reason why jordan are so far behind the rest in terms of development is lack of money. The difference in budget between Ferrari and Jordan these days is far greater than it was in the late 90s.Increasing costs certainly doesnt help the situation. Jordan are expected to be able to compete on an <80 million euro budget whilst ferrari have over a quarter of a billion. jordan also have to pay at least 25 million euro for their own engines as a result the team have less money to spend on research and development.

They also lack talent in the technical sector. Ej was never able to find proper replacements for Sam michael mike gasgoyne and Dino toso. Anderson is incompetent the problems at jaguar were his fault. Hamidy wanted to build a windtunnel for the team formerly known as stewart but Anderson overruled him and as a result Jaguar are still suffering. Hamidy was a good aerodynamicist but clearly wasnt up the job of technical director. Ejs recruitment of Anderson in late 2001 to put management on hamidy was disastorous. Hamidy`s replacement Henri durand did a good job for mclaren in the 1980s but his ideas are old and outdated.

Jordan could seriously benefit from a cash injection the only problem is finding an investor bold enough to take on the initiative. Profit margins are low and as a result the teams minority share holder warbug pincus are considering selling their stock.A Car manufacturer would be ideal look what BMWs investment did for williams.

Devilman · 08-09-2003 10:41pm

I hope EJ does sell up some of the business...I think its the piece that is controlled by his German partners. And if they do sell, they could do no worse than sell to VW group... I mean Audi need the exposure of F1.. racing in the ALMS series and winning year in year out means nothing to the world ( apart from diehard racing fans and F1 is about more than that ). Also the CEO of VW has said in the past that VW have an engine 100% ready for F1 ...they just need a team to take it on ( couldnt be any worse than the Cossies they have..). I think they may have found that guinea pig...

Then a Jordan team with some real development behind them ( not the kind of development that sees a team start a season decently and go backwards ), might start to achieve the greatness that they were on the cusp of in 99.

just an opinion..

Töpher · 08-09-2003 10:48pm

i wasn't aware of the VW/Audi situation, it would ef. be no worse than the **** they're propelling their cras with this year! maybe draught in some class aerodynamicisits too!

zeris · 09-09-2003 2:03pm

Lamborghini (also part of the VAG) will announce a return to motorsport . It didn't say which formula though. Is Lambo making a return to F1?

jongore · 24-09-2003 11:28am

A bloody clockwork engine would be better then the ford!:mad:

While EJ is tied to Ford the Jordan team will continue to go backwards, at them moment they are only just better then Minardi.

If they slip furthur Minardi will overtake them, hell if they get much worse Lada will overtake them!

Töpher · 25-09-2003 3:47pm

it gets worse, jordan have just announced their plans for "driver idol", http://www.itv.com/f1 - all i can say is UGH! i mean, seriously, UGH!

BANZAI_RUNNER · 29-09-2003 4:46pm

it would seem that EJ is getting desperate , "driver idol" is a joke .
Someone in an earlier post suggested Abramovich as a possible solution to EJ's woes, but Paul Stoddart/Minardi has already had discussions with Abramovich on a possible buy-out.
But EJ was seen in deep discussion with Ecclestone over the week-end in Indianapolis, so who knows.

PH01 · 07-10-2003 1:23pm

Looks like it's not all over for Jordan, or have they just bought a pig in a poke with Jordan GP?

From...

Irish Investors purchase stake in Jordan
A consortium assembled by Merrion Capital has purchased a 49.9% shareholding in Jordan Grand Prix. The new investors have purchased the shareholding of Warburg Pincus and look forward to providing support and fresh impetus to Jordan Grand Prix in building on the achievements of team principal Eddie Jordan.

According to John Conroy of Merrion Capital: "the new investors are attracted by Jordan's proven ability to win races in this most competitive of sports and by the vibrant, can-do culture of the Jordan brand and Eddie Jordan".

Eddie Jordan commented: " I would firstly like to thank Warburg Pincus for their support over the past five years, during which time we won four races and finished third in the Championship. Looking ahead, I very much welcome my new partners in Merrion to Jordan Grand Prix and I am very excited to have a stable platform to propel the team to even greater achievements and to proudly wave the Irish flag in Formula 1."

About Merrion Capital

Merrion Capital is Ireland's leading independent stockbroking and > corporate finance company. Recent transactions include the EUR3.6 billion buyout of Jefferson Smurfit Group plc by Madison Dearborn Partners, the sale of Unicare to Celesio (previously GEHE) and the buyout of Arnotts plc. Merrion also advised Abbey National in relation to the takeover approach from Bank of Ireland. Merrion Capital is 30% owned by New York-based investment bank, Allen & Company Inc., a leading player in the US media, telecoms, IT and professional sports sectors.

07 Oct 2003 10:43

Töpher · 07-10-2003 2:05pm

I saw that too, good news me thinks, hopefully this will mean funding for car development and a chance to tell Ford to go fist themselves!
So EJ still runs the team then, owning 51.1% of the team, maybe now with some funding he can return to the EJ of the past.

netman · 07-10-2003 2:17pm

driving idol? wow! that's a brilliant idea.

they should sing a song as the car is falling apart!

and then the audience should vote, as the votes go up the spare parts go in !

wait!

we can do it as a part of F1 !

as the race starts, audience starts dialing a 1900 number, each call costing 5 euro. the money from the proceeds goes to pay for spare parts, fuel, helmets, hair trims, car stickers, etc.

or, the other way around.. as the race starts, audience starts dialing a 1900 number, voting off one of the drivers. as the votes go up, the car start falling apart.. oh.. wait.. that happens anyway!

willows · 09-10-2003 9:09am

The merrion capital consortium bought the warburg pincus share holding for a song guys. The team gets no extra cash. They might get extra cash from irish sponsors in the future. What irish firm can afford that kind of sponsorship.

Jordan cannot go under, if it does the whole of F1 is likely to collapse becasue minardi and bar will not be far behind. Then there will be 7 teams.

Maybe jordan is being fattened for a sale to Red Bull.

Töpher · 11-10-2003 10:20pm

perhaps, wonder what they'd be called then? clearly wouldnt be jordan any more would it? ah well, cant waffle here too long, need sleep so i can get up at 6 to see the jordans for a few laps at the start as they trail schumi!

GreenHell · 14-10-2003 12:13pm

The solution to jordans current standing, we all know is money weather or not this new deal with those merrion guys will bring in extra funds remains to be seen, maybe ej should have parted with more of his own share, however if he did that would not be a long term solution. Jordan need a big name sponsor to achieve long term growth its really that simple, ford have said their not going to let jordan out of its current contract which means if ej was planning on buying it would there will probably be a heavy compensation going to ford plus the 30 million for the next two years of engines and jordan cannot afford that. So thinks look bleak, more bleak than ever infact.

jonno · 15-10-2003 12:54pm

Originally posted by GreenHell
The solution to jordans current standing, we all know is money weather or not this new deal with those merrion guys will bring in extra funds remains to be seen, maybe ej should have parted with more of his own share, however if he did that would not be a long term solution. Jordan need a big name sponsor to achieve long term growth its really that simple, ford have said their not going to let jordan out of its current contract which means if ej was planning on buying it would there will probably be a heavy compensation going to ford plus the 30 million for the next two years of engines and jordan cannot afford that. So thinks look bleak, more bleak than ever infact.

Agreed. Things looks doomed.

Jordan to sell?!?!

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