04 April 2004 17:18
Formula One deal could put Russians in pole position
FORMULA ONE motor racing boss Eddie Jordan is on the verge of a groundbreaking sponsorship deal with Russian oil
giant Yukos.
Jordan, who runs the F1 outfit of the same name, has been in talks with Yukos, Russia's biggest oil firm, and
rivals Lukoil for several months.
Sources say both firms wanted to delay negotiations until after last month's Russian elections and that Yukos is
the more likely to agree a deal.
Yukos has attracted media attention in Britain over the incarceration of its boss Mikhail Khodorkovsky on tax evasion
and fraud charges.
"It is very close but nothing has been signed yet, " said the source. Russian firms are keen to muscle
their way into F1 in an attempt to establish their credibility on the global business stage. Jordan was linked earlier
this year to Chelsea owner Roman Abramovich, who is said to be an F1 fan.
A deal would also represent a major financial boost to the Jordan team, following last year's unsuccessful High
Court action against Vodafone.
The Department of Health is also seeking access to documents relating to the team's deal with tobacco giant
Gallaher.
[The Express On Sunday] |
RUSSIA IN FACTS
