Jordan join Ferrari and Red Bull in F1 commitment

JORDAN have followed the lead of Red Bull and Ferrari by committing to Formula One beyond 2007.

The sport’s ruling Concorde Agreement expires in 2007 and negotiations to extend it have been fraught, with a rebel group threatening a breakaway championship.

Ferrari were the first to break that alliance by agreeing to sign up with commercial rights holder Bernie Ecclestone and world governing body the FIA until 2012, followed this week by Red Bull.

Now Jordan, who next season will be renamed Midland after Alex Shnaider’s takeover, have followed suit.

“Bernie Ecclestone was instrumental in bringing Midland to Formula One and from the very beginning Alex Shnaider was supportive of his vision for the future of Formula One and the world championship,” said Jordan managing director Colin Kolles.

“We are happy and proud to be in at the beginning of this process.”

Yesterday’s move strengthens the position of the FIA and president Max Mosley, who had seemed isolated with Ferrari for the past six months.

Mosley has made several compromises in recent months in an attempt to unite the warring factions, including a plan for him to step aside from the running of Formula One and key technical concessions.