Auto Service World
News   January 24, 2005   by Auto Service World

Two Canadians Involved in Formula One This Year

Formula One will have two Canadians this year, with the recent announcement that Russian-born Canadian Alex Shnaider has struck a deal to take over the Jordan Team.
While 1997 world champion Jacques Villeneuve makes his full-time return to the sport with the Sauber team this year, Jordan Grand Prix and Shnaider’s Midland Group announced the signing of a contract concerning a future take over of Jordan Grand Prix Limited by Midland Group.
Under the terms of the contract the team will compete in the 2005 Formula 1 World Championship under the name Jordan Grand Prix and the cars will be known as Jordan Toyota EJ15s.
Subsequently the name may change to Midland F1, though the investment group has yet to make a formal announcement. The group had made a previous announcement that it would be forming a team in time to take part in the 2006 season, though the purchase of an existing entity was obviously judged to be the wiser and less expensive move.
The Jordan team has struggled for most of its 14 years in Formula One, but has often had the respect of other teams. It has also played a role in bringing many notable drivers into the sport. Seven time world champion Michael Schumacher, for instance, had his first Formula One foray with Jordan.
Jordan has nonetheless struggled financially for the past few years, having been forced to cut staff last year.
“I have devoted 35 years of my life to motor racing and have had some really fantastic times,” said team owner Eddie Jordan. “The last fourteen years when I have been lucky enough to be involved in Formula One have been a highlight, naturally, and winning our first Grand Prix in 1998, which broke the grip that the top teams of the time had on the sport, is for me a personal triumph.
“I wholeheartedly believe that Midland joining with Jordan will make the team stronger. They are totally committed and as we look to the future, we will see this team return to the competitiveness we have proved we are capable of. The sport and the required resources have changed and this deal provides the team with the security and strength it needs.”

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