Eddie Jordan says he does not regret selling his formula one team.

The Silverstone based camp has suffered a tumultuous time ever since, with Midland selling to Spyker at the end of last year and the struggling Dutch owners now likely to offload the team to yet another buyer.

But Jordan said F1 is simply a tough environment for privateer teams these days, and that handing the team on was preferable to letting it fold.

"You can be selfish and say that it could have been better," the Irishman told the Dutch magazine Formule 1 Race Report.

"But I could not forget about the 250 very loyal people who worked for the team. What was I supposed to do -- send them away with nothing?

"That has never been my style."

Jordan, however, admitted to "surprise" that the man he initially sold the team to - Russian-Canadian billionaire Alex Shnaider - did not stick around for long.

"I really thought that Midland would continue with it for longer, and the same for Spyker."

He said he would be willing to help the team if they asked.

But "they have never asked and I don't expect they will now".

Jordan added: "Yes, I would gladly pass on my experience and my knowledge. But it is like a bird from the nest -- they fly away and learn to look after themselves."

Source: GMM