Jordan may sell chunk of team

Jordan owner Alex Shnaider, to rename his formula one team 'Midland' next year, has vowed not to sell the Silverstone based squad at least until a new 2008 Concorde Agreement can be assessed.

The naturalized Canadian and billionaire, though, said he might flog off a chunk of the team.

''I would not sell completely,'' Russian born Shnaider told Motorsport Aktuell. ''But it is possible to offer a comfortable bed to your guest without giving them a house.''

Shnaider said 'Midland F1' will do with a $100 million budget next year, which would – with the sale of Minardi to energy drink Red Bull – likely make it the poorest in pitlane.

He's openly hanging out for 2008, when a new commercial agreement – allied with FIA rules – will possibly make being competitive a cheaper exercise for independent teams.