The team was created by the renaming of Jordan Grand Prix after its purchase by Canadian businessman, and owner of the Midland Group, Alex Shnaider.

[6] The team retained Jordan's name for the 2005 season but struggled at the back of the grid with rookie drivers Narain Karthikeyan and Tiago Monteiro.

The highlights of the season were Monteiro's third-place finish at the US Grand Prix (in which only six cars competed due to problems with Michelin tyres), Monteiro managed an excellent eighth place at Spa in wet conditions to give the Jordan name its last point and his lengthy streak of consecutive finishes, which underlined the car's reliability.

[11] The senior management subsequently placed its faith in the incumbent design team, promoting former head of vehicle science James Key to the role of technical director towards the end of the 2005 season.

Much of that progress was down to tyre development from Bridgestone coupled with significant improvements in aerodynamics and handling (overseen by Simon Phillips and Richard Frith respectively).

Rumours had been floating about in the paddock throughout the mid-season about the possible sale of the team, less than two years after Shnaider originally bought it from Eddie Jordan.

Colin Kolles remained as team principal, while Michiel Mol became the new Director of F1 racing and member of the Spyker board and Mike Gascoyne joined as Chief Designer at the end of the season.