Jordan agrees to sell F1 team to Russian entrepreneur

EDDIE JORDAN has agreed to sell his Formula 1 team to Russian entrepreneur Alex Shnaider, with an announcement due next Sunday. The deal will bring an end to Jordan's 14-year tenure as F1's most charismatic team boss.

Following weeks of negotiations between Shnaider, the man behind the new Midland F1 outfit, and Jordan, an agreement has been reached, according to the Autosport website. However, a final contract has yet to be signed.

It is understood that Shnaider will take over the outfit as its new team principal, with Jordan being moved into a role as commercial director. Other staff changes are also taking place, one of which could be that Midland F1's adviser Trevor Carlin takes over as team manager.