EddieIrvine, Schumacher's former team-mate at Ferrari, said the German had struggled to find an outlet for his ruthless competitive streak since retiring.
The team employed this tactic with great success in Malaysia in 1999 to ensure the title battle between Ferrari's EddieIrvine and McLaren's Mika Hakkinen went to the last race.
Jordan have also been talking to EddieIrvine, who was released by Jaguar, and Brazilian Felipe Massa, who was dropped by Sauber at the end of the season.
Only Jaguar, Arrows and Minardi have vacancies - and Jaguar are considered certain to sign Mark Webber in place of EddieIrvine alongside Pedro de la Rosa, as exclusively revealed by the BBC.