Heavyweight execs search $100m to revive World Cup of Motorsport

Executives along with a former director of world motorsport’s governing physique and the Nectar loyalty scheme founder Sir Keith Mills are in talks to spice up $100m (£80m) to finance the rebirth of A1GP, the motor racing sequence contested by nationwide teams from throughout the globe.

Sky Information has learnt that heavyweight names from the sporting and enterprise arenas are pitching to consumers to protected the financing with a view to relaunch the sequence – which was remaining staged in 2008-09 – by the highest of subsequent 12 months.

If the fundraising is worthwhile, 20 teams representing nations from across the globe would compete for the World Cup of Motorsport, with every driver competing in a single specification of automotive.

The open-cockpit autos would have a main tempo of roughly 350kph, most likely making A1GP the second-fastest motor racing sequence on the earth, behind F1.

In a nod to rising points regarding the environmental affect of elite motorsport, the autos will be designed to run on sustainable gasoline.

Sources acknowledged numerous deep-pocketed funding funds and other people had already expressed curiosity in financing the enterprise.

The enterprise is being spearheaded by a gaggle along with Marcin Budkowski, a former group principal on the Alpine F1 group and beforehand a director of the Federation Internationale de l’Vehicle (FIA).

Its industrial operations will seemingly be led by an as-yet unnamed authorities, in accordance with one insider.

The plot is being put collectively in collaboration with Origin Sports activities Group, a sports activities actions funding company which has carried out a key place in globally renowned events along with the America’s Cup World Collection and the Invictus Video games.

Origin’s founder, Sir Keith, who led London’s worthwhile bid to host the 2012 Olympic Video games and is now a director of Allwyn, the next operator of the Nationwide Lottery, is showing as a senior adviser to the enterprise.

David White, a former worldwide president of the French media giant Lagardere, may also be involved throughout the enterprise, whereas Mike Gascoyne, the F1 technical veteran, has been enlisted as an adviser.

Potential consumers who’ve been approached about backing A1GP acknowledged it was envisaged that the sequence could attribute teams from nations along with Britain, China, Italy, Saudi Arabia and the USA.

Talks with automotive and engine producers are underway, in accordance with insiders, with a working prototype already constructed.

A1GP wouldn’t search to compete immediately with F1, they added, nevertheless would instead stage numerous its races all through the F1 off-season.

“There’s sturdy urge for food for nation vs nation competitors in sport, and motorsport isn’t any exception,” acknowledged one commerce authorities.

The revamped sequence would occur all through 12 races, unfold all through Europe, North America, Latin America, the Center East, Africa, and Asia-Pacific.

A1GP’s season would run from December to July, with the organisers anticipated to place a robust emphasis on fan accessibility by low-cost frequent admission pricing.

Its schedule will be designed to minimise air freight costs for every financial and environmental causes, one potential investor acknowledged.

Every nationwide group would attribute one expert racing driver, and one youthful competitor who will be chosen by an annual experience rivals that will itself be televised.

One provide acknowledged the doable revival of A1GP represented a guess that rising worldwide TV audiences is perhaps sustained.

The Netflix fly-on-the-wall documentary sequence Drive To Survive has been credited with opening up F1 to demographic groups which had beforehand confirmed little curiosity throughout the sport.

F1 is broadcast in markets along with the UK, Italy and Germany by Sky Sports activities, which shares a dad or mum agency with Sky Information.

In its distinctive incarnation, A1GP’s remaining race befell in Might 2009, with the worldwide financial catastrophe inserting paid to hopes of elevating ample funding to take care of it going.

The executives behind the model new mannequin are acknowledged to have devised a financial model which could see the World Cup of Motorsport’s teams centrally owned and managed, with the potential to spice up funds from the sale of specific individual franchises at a later date.

None of those involved in A1GP is perhaps reached for comment this weekend.

Originally posted 2023-05-20 09:55:04.