The Irish entrepreneur, founder of the eponymous race-winning Jordan Grand Prix, is believed to have paid less than the previous “preferred bidder” offered

London Irish Rugby Club are bought out of administration by a consortium led by former Formula One team owner and businessman Eddie Jordan.

Formula One team owner and Irish businessman Eddie Jordan has bought the London Irish rugby club over a year after the Premiership team was suspended.

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A consortium backed by former Formula 1 team owner Eddie Jordan has taken over London Irish rugby club, purchasing the team's intellectual property, brand and rights. The deal, completed through investment vehicle Strangford Ellis Ltd,