Formula One team Jordan have dropped their law-suit against mobile phone company Vodafone, leaving Eddie Jordan with a huge legal bill after he agreed to pay Vodafone's costs.
Jordan had brought the case claiming that the mobile phone giants reneged on a verbal agreement for a sponsorship deal with his formula one team, before making a last-minute switch to Ferrari.
The crux of the case centered on claims that Vodafone's global branding director David Haines had told Jordan 'You've got the deal' and that, based on previous negotiations between the parties, this statement constituted a binding agreement. However, in the British highcourt today, Jordan surprisingly dropped the case and offered to pay all of Vodafone's legal costs.
Jordan's director of business affairs Ian Phillips played down fears that the failure of the court case would make a negative impact of the F1 team. "We have dropped the case. But the team is not in jeopardy - we will be here next week and next year," he said.
The Jordan F1 team have struggled this season, and despite Giancarlo Fisichella's victory in the Brazilian Grand Prix, they have failed to make much of an impact on the drivers championship table.
Filed by Rob Wright
