Sunday March 31st, 2002

Jordan Grand Prix have lost vital backing from microchip company Infineon, according to The Independent on Sunday.

The British newspaper reported that Infineon have pulled out their estimated £3.8 million (UK pounds) backing for the Silverstone-based team because of below-par performances in recent years.

"In a tough time, it is not good to have the image of a loser," Infineon's head of sponsorship Birgit Fischer-Harrow said. "It's no good fighting for places five and six."

Pre-season rumours suggested that Jordan Grand Prix were cash-strapped with Benson & Hedges set to pull the plug on their sponsorship of the team. But a deal was announced for 2002 that included Benson & Hedges as one of the sponsors for the new season, with DHL taking on the role of title sponsors for the current campaign.

Jordan has been a leading figure in the drive to bring an end to escalating costs in Formula One and welcomed the FIA's stance to cut expenditure.

Published at 12:01:42 GMT