UPDATE 1-Motor racing-Jordan announce takeover by Midland Group

Newswire

(adds details, quotes) LONDON, Jan 24 (Reuters) - The Jordan Formula One team announced on Monday they would be taken over by the Midland Group, owned by Russian-born businessman Alex Shnaider. Jordan, founded by Irishman Eddie Jordan, said in a statement they would drive in the 2005 season under the name Jordan Grand Prix, with cars known as Jordan Toyota EJ15s. The Midland Group is to announce further details in due course. "I wholeheartedly believe that Midland joining with Jordan ...

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