F1 boss chases Vodafone for fortune

Four words could cost Vodafone £150million in damages to Grand Prix team owner Eddie Jordan, the High Court heard today.

Multi-millionaire Mr Jordan claims the words: "You've got the deal," spoken by an executive of the phone giant, clinched a three-year, £100million sponsorship contract.

But Vodafone claims no deal was ever agreed and, fewer than three months after the words were allegedly spoken on the phone, it had signed a new deal with Ferrari.

Vodafone is one of the highest spending companies in the sports sponsorship market with the England cricket team and Manchester United bearing its logo. The alleged deal with Jordan Grand Prix Ltd was for "title sponsorship", the right to have the company in the racing team name.

Today Mr Jordan was in court to hear his barrister, Alan Boyle QC, say: "The exact words are critical to this case."

Mr Boyle said that in March 2001 David Haines, global branding director of Vodafone, rang Mr Jordan, allegedly to confirm that Jordan had won the contract. Listening in on the conversation was Jordan's commercial director, Ian Phillips, who noted the exact words used in a notebook shown to a judge today.

Mr Boyle said: "The words spoken were words of commitment; there was a clear assent on both sides to the existence of a deal. There was no suggestion in the conversation that it would be necessary to get some further approval within Vodafone before a deal could exist."

The case continues.