Jordan to sell F1 team to Midland boss Shnaider

Eddie Jordan has agreed to sell his Formula One team to Russian-born businessman Alex Shnaider, according to the Autosport magazine website.

They quote the Irish supremo as saying "no deal has yet been finalised but my role will change".

Shnaider has been planning to set up his own Midland team to debut in 2006, but a takeover of Jordan would save him having to pay a €40m entry bond.