The Midland Group purchased the Jordan Grand Prix team just ahead of the 2005 season. In 2006, the MF1 Racing team competes under its own colours and a Russian race licence for the first time.

The Midland Group, headed up by Alex Shnaider, is looking at its investment in Formula One as a way of promoting its brand. The company's key industries are steel manufacturing, transportation, construction and agriculture.

The early stages of the Formula One venture was not a perfectly smooth one for Midland who looked to Italian manufacturer Dallara for technical input on the M16 which makes it debut next March in Bahrain.

Under the guidance of Managing Director Colin Kolles, James Key is the team's new Technical Director and the team has signed Dutch racer Christijan Albers to partner Tiago Monteiro. After a tough season running the yellow Jordan colours, it is an all-new look to the team in 2006.