Eddie Jordan believes that the era of privateer team owners in Formula 1 is over.

Speaking at the BMW Invitational golf tournament in which he is competing alongside Paul McGinley, the former team owner claimed that when he sold his outfit he had reached a stage where he was no longer able to raise the finance to be competitive.

“We are being wonderfully hosted here by BMW," he said. "Ask them what they spend on their BMW programme and then think what a privateer could achieve.

"It is just not in the same league."

Jordan, who will be joined among the ranks of retired team owners by Peter Sauber at the end of the year when the Swiss sells out to none other than BMW, says he hasn't looked back since quitting the sport.

“I have no regrets," he said.

"I have had an unbelievable life, great opportunity to pursue a career and be paid for it in the bargain.

“When the team got sold, I felt I no longer had the ability to win. I felt I had more success with drivers than I did with the team.

“Yes we won grands prix but having people like Ayrton Senna, Michael Schumacher and Damon Hill, all world champions, in my car was a big thing for me and I felt I had some influence in how their careers unfolded as a lot of them started with me.”