Jordan signs Concorde Agreement

SILVERSTONE, England -- Jordan became the third Formula One
team to sign an agreement extending Formula One's commercial deal
through 2012.

Jordan's owner, Midland F1, said Wednesday it signed the
Concorde Agreement, which deals with how revenues are divided among
the teams, commercial chief Bernie Ecclestone and governing body
FIA from 2008 until 2012.

"Bernie Ecclestone was instrumental in bringing Midland to
Formula One and from the very beginning [Jordan owner] Alex
Shnaider was supportive of his vision for the future of Formula One
and the World Championship," Midland F1 managing director Colin
Kolles said in a statement.

Red Bull Racing agreed to the deal Monday. Ferrari was the first team to sign on Jan. 19.

The other teams and manufacturers -- Renault, BMW,
DaimlerChrysler, Toyota and Honda -- have been holding out as they
consider launching their own breakaway series.