Eddie Jordan is believed to have sold 45 per cent of Jordan Grand Prix to US investment group Warburg Pincus. The deal will yield Jordan approximately £35 million.

Last night the Dubliner said: "This investment will allow us to challenge for new heights and plan our future success. We now have a platform to build a championship winning team."

Since it was founded in 1990 the only shareholders in Jordan Grand Prix have been Eddie Jordan and his wife Marie. Jordan looked at floating the company and also had discussions with Honda but these talks fell down on price and Jordan decided to remain at the helm. "This is the business I know and love," said Jordan. "I will be the chief executive and Dominic Shorthouse the MD of Warburg London will join the board." The investment does not disbar Jordan from bringing in a car company as a major technical partner and shareholder.