The latest motorsporting discipline gets underway this weekend but instead of cars hitting the track, RaceBirds will take to the waves as an all-electric racing series called E1 hits the start button.
The latest motorsporting discipline gets underway this weekend but instead of cars hitting the track, RaceBirds will take to the waves as an all-electric racing series called E1 hits the start button.
From the makers of Formula E and Extreme E comes E1, where racers go through a knockout competition over a number of races to determine winners.
So, with the help of E1 chief executive Rodi Basso, here’s what it’s about, who owns teams and why it matters.
What is it?
“The E1 world electric power world championship is a new sports platform that comes from a technical, cultural and business model,” Basso tells City A.M.
“What we are trying to achieve here is building a new form of entertainment based on technology, innovation and sustainability.
“It’s about the belief and passion of the combination of sport and technology. It is strongly impactful. It is about showing that you can have boats that are compelling and very very sexy.”
The series will take place on water and is akin to Formula E, its sibling motorsport.
Who owns an E1 team?
E1 has a number of celebrity owners including the likes of cricketer Virat Kohli, Super Bowl winner Tom Brady and tennis star Rafael Nadal.
Red Bull F1 driver Sergio Perez owns Team Mexico while ex-footballer Didier Drogba is involved.
Producer Steve Aoki, singer Marc Anthony and Girona FC co-owner Marcelo Claure all have teams.
What’s in it for team owners?
“[Celebrities] see this also as a very good business because the way we structure the relationship is very much based around the licence we have for 25 years,” Basso says in relation to the exclusive racing licence the sport has.
“We share the licence with the teams that are on board and of course the objective at this point is for all the team owners to make sure that this is a success so the value goes up.”
Where does the series race?
The season kicks off this weekend in Jeddah, Saudi Arabia, which makes sense given the Public Investment Fund backing for the series.
The series will then move on to Venice before races in Malaga, Geneva, Monaco and Rotterdam.
E1 will finish this season in Hong Kong in November.
Will we see a London race?