Adrian Newey's manager Eddie Jordan sues HSBC for £5 million loss 

Adrian Newey's manager, and a former F1 team principal, Eddie Jordan has sued the banking giant HSBC for £5 million after he claimed that the bank pressured his investment company Pendragon Investment Holdings into a loan. The 76-year-old added that his investment company invested in the HSBC GIF Global Credit Floating Rate bond fund over five years from 2019 to 2023.

As per The Times, Jordan said that HSBC motivated him to take a £47m loan and invest in a scheme. The scheme was supposed to have losses only up to 0.98 percent, and more than 1% was not considered possible.

But Pendragon claimed that the scheme made them lose 10 percent of the value, while the company had been ready to only accept a loss not exceeding 1 percent. Jordan, worth around $600 million (according to Celebritynetworth.com) through his various investments over the years working in motorsports and business, has sought a compensation of around £5 million from HSBC, the difference between his investment total and the ultimate bond value.

Jordan, known for owning and running his eponymous F1 team in the '90s and early 2000s, is a prominent figure in the paddock and currently serves as the manager for legendary aerodynamicist Newey.

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Adrian Newey's manager provides an update on his client's future

Adrian Newey's manager Eddie Jordan stated that the reports of the Red Bull CTO joining Aston Martin were not correct as of yet.

Newey has been a prime target for many teams on the grid, such as Ferrari, Aston Martin, and McLaren, since announcing his exit from the reigning world champions ahead of the Miami GP in 2024. Many reports have claimed that Newey's move to the Maranello-based outfit was off the table with the aero wizard choosing to shift closer to home than moving to Italy.

But on his Formula for Success podcast, Jordan said to David Coulthard:

“You have made a statement about where you think Adrian may or may not be going. I would say to you: one, I cannot believe that what you said is currently in a situation where you can justifiably call it a fact.”

While commenting on the Silverstone-based team's current standing on the grid as Newey's potential next destination, Jordan added:

“We are waiting for the announcement. When you eventually announce he’s going to Aston Martin, do we suddenly think their performance will gain half-a-second just because of an announcement? "

He further added:

"Of course not. He’s got to then start the long journey of getting to know the team of people, getting to know the facilities, bringing his vision forward. That can take years. It took five or four years at Red Bull for that success to come.”

Recently, it was widely reported that Newey would join Aston Martin in 2025 after having agreed a contract of $100 million for four years. But neither the iconic F1 engineer nor the British team have confirmed this.