Not for the first time this year, the British media is reporting that Eddie Jordan is days away from selling his team.

In the summer it was to a consortium supposedly acting on behalf of the Dubai royal family, now it is Arden International boss, Christian Horner, who is said to be on the point of purchasing the Irish team.

According to The Sunday Times, Arden has "confirmed that a deal should be agreed by December 10". It's understood that Jordan and his Irish partners would sell their stake in the company for £30m ($56.6).

If true, this sounds like a ridiculously small amount of money, and makes the decision to build the Midland and Dubai F1 teams 'from scratch', seem even more ludicrous than originally thought.

"Final negotiations with the Jordan shareholders are taking place and a deal is very close to being signed," Nicky Samengo-Turner, financial adviser to Arden and Horner, told The Sunday Times.

The team has only recently announced a one-year deal with Toyota.

If the deal is concluded, Horner would immediately take over as team principal and chief executive, with the charismatic Eddie Jordan exiting F1 stage left.

Furthermore, it's understood that the team would be re-branded, to reflect Arden's involvement and that of an un-named Chinese multinational which is also said to be "financially involved". Indeed, it's believed that the Chinese company will hold a 50% stake in the team, with Horner, Arden and others holding the remaining 50%.

If the story proves true, unlike the Dubai buy-out, it will hopefully mean greater security for members of the Jordan team, however it will come as a bitter blow to the many fans of the popular Irishman and his team.

With new management in place, the question of who will drive the two cars is very much in the air, for Horner manages several drivers including former Jaguar test driver Bjorn Wirdheim, who last week parted company with Red Bull Racing.