Emerging Plans to Raise $100 Million for World Cup of Motorsport
Key figures, including the mastermind behind London’s successful 2012 Olympics bid, are spearheading a potential international motorsport series that aims to rival A1GP. This new series has the potential to showcase 20 teams representing various countries across the globe.
News has surfaced about the emergence of plans for an investment round aimed at raising $100 million to revive the World Cup of Motorsport series, which has been absent for 15 years.
According to Sky News, high-profile executives such as Sir Keith Mills, the mastermind behind London’s successful 2012 Olympics bid, alongside a group of well-funded investment funds and individuals, have shown keen interest in providing financial backing for the project.
A championship called ‘A1GP’ previously operated from 2005 to 2008 but unfortunately ceased operations at the end of 2009 due to the global financial crisis.
In the event of a successful funding campaign, the revival of the World Cup of Motorsport would feature 20 teams representing nations worldwide, competing in a single specification car.
The proposed racing series envisions each car running on sustainable fuel and reaching a top speed of 350kph, positioning it as one of the world’s fastest racing series, second only to Formula 1. The project has been initiated by a team of individuals, including Marcin Budkowski, a former FIA Head of F1 Technical Department and Executive Director at Alpine. Additionally, Mike Gascoyne, a former F1 engineer with experience at Toyota and Caterham, has joined the team as an advisor.
Origin Sports Group, founded by Sir Keith Mills, is collaborating on the bid, bringing its expertise from notable events like the America’s Cup World Series and Invictus Games. This partnership plays a pivotal role in driving the bid forward.
New series looking to capitalise on Drive to Survive audiences
The series aims to host 12 races across Europe, North America, Latin America, the Middle East, Africa, and Asia-Pacific, spanning from December to July.
Every team in the series would consist of an experienced driver paired with a young competitor, who would be selected through an annual talent competition. This approach ensures a blend of seasoned expertise and fresh talent within each team.
The revival of the series is considered a strategic move to tap into the potential of international TV audiences, with the popular Netflix series “Drive to Survive” recognized as a significant catalyst in generating global interest in motorsport.