Dubai to buy Jordan???

[Micky]

I´ve been seeing some reports that Dubai are set to buy a Formula One team, probably Jordan. http://www.planet-f1.com/news/story_165 ... wrong :?:

[Monstrobolaxa]

In case Eddie sells Jordan I don't think he'll be stupid to the point of not signing a "sellers" contract where it's stated that he'll stay in the team as Sporting Director....and with allt the knowledge and knowhow that Dubai has in Formula 1....I'd say that Jordan is going to stay intact for at least the first 2 or 3 years....untill "Dubai" learns a little about F1.

[sharkie17]

it was my understanding that Dubai would be a part owner... EJ isnt stupid enough to give over the entire operation.

And it is very unlikely that Stoddart will give up Minardi that easily.

[Monstrobolaxa]

Well Stoddart has been wanting to get rid of Minardi...at least last year and the year before....he was loosing too much money. He didn't even mind having to pay to family of the previous owner. (can't remeber his name...he died in 2000 or 2001 of cancer....he was the founder and owner of Fondmetal...) According to the press he had to keep the teams for a few seasons before he could sell it without compensating the family.

[Monstrobolaxa]

It was Gabriel Rumi...he bought in 1998 Briatori's shares from Minardi and a few from Giancarlo Minardi. He became with this move the mojority shareholder of Minardi.

[Guest]

I don´t think it would be too hard to get rid of Stoddart. The team needs money and he´s fast runing out of it.

[Monstrobolaxa]

If I'm not mistaken Stoddart has to keep Minardi untill the end of the 2005 season....if he sells it he'll have to give a 5 million dollar compensation to the Rumi family...(I'm still going through old f1 news papers to try to confrim the amout he has to pay)

[j4kwan]

I heard the Dubai/ Jordan deal is that Jordan will sell 45%+/- holdings. Partly so they can develop a new facility in England. I would like to invest in Jordan but I only have 5 dollars