| Werner333 |
31-03-2004 19:02 |
A1 Grand Prix Series
Quote:
In Dubai yesterday His Highness Sheikh Maktoum Hasher Maktoum Al Maktoum, of the ruling royal family of Dubai, in association with prominent South African businessman Brian Menell and entrepreneur Antonio Teixeira, formally launched the A1 Grand Prix Series, a new concept in international motor racing designed to fill the winter season when Formula 1 is not active and offering countries the opportunity to acquire a team on a franchise basis. Plans for the new ‘one make’ race series, already being billed as the ‘World Cup of Motor Sport’, was announced at a press conference at Dubai’s Jumeirah Beach Hotel, where the prototype single-seater car, designed and built for A1 Grand Prix in the UK by Lola Cars International Ltd and Langford Performance Engineering Limited was unveiled.
BACKGROUND INFORMATION (also see website: www.a1gp.com from 30 March 2004)
With full FIA approval, His Highness Sheikh Maktoum Hasher Maktoum Al Maktoum, has been designed to offer both participants and spectators a new type of motor racing experience. Filling a space in the calendar between November and February that is traditionally thought of as the Formula 1 ‘off’ season and involving at least twenty-four countries, the first race will take place in Dubai in Autumn 2005, with at least nine events planned for the first season. The championship will pit nation against nation in a series of challenging races in the Southern Hemisphere that A1 Grand Prix hopes will become known as the ‘World Cup’ of motor sport.
A unique aspect of A1 Grand Prix as a business is that for the first time in motor sport history driving seats will be available on a franchise basis. This will allow new entrants as well as those already established in motor sport to bid for ownership of a team, and discussions are already at an advanced stage with twenty-four countries. Each national team will drive a single type of high performance car built by Lola International and powered by a newly developed 3.5 litre Langford engine, ensuring a level playing field that will place driver skill at the heart of the competition. Thirty identical cars are already on order from Lola and, as part of the franchise deal, A1 Grand Prix will undertake to maintain each car to an agreed specification, transport it between race venues and provide support in exploiting the commercial potential of the team, while at the same time retaining overall control of the rules, commercial conduct and media coverage of the series as a whole.
The scale of the business opportunity for franchisees and sponsors is indicated by independent research* which estimates that there are over a quarter of a billion (270,732,500) motor sport fans within the twenty-four target countries. This potential audience confirms that there is very significant income to be derived by A1 Grand Prix from the sale of TV rights, sponsorship and merchandising, while the same research also indicates that a primary sponsor could have the potential to generate media coverage valued at over one million US dollars for each live race broadcast throughout the countries expected to be involved.
His Highness Sheikh Maktoum Hasher Maktoum Al Maktoum, an avid fan of all forms of motorsport since early childhood, is an experienced triathlete and mountaineer who has also competed in the grueling Land Rover G4 Challenge. Having studied business and finance in theUSA and gained practical business experience in Dubai, he began to make plans to use his own passion for motor racing to make the sport more accessible to countries in the Middle East, Africa, Asia, South America and Australasia. As Chief Executive Officer of A1 Grand Prix he will preside over the development of the business as it establishes its international reputation and following.
* Research conducted by Sports Marketing Surveys on behalf of A1 Grand Prix, March 2004.
The Board of A1 Grand Prix
His Highness Sheikh Maktoum Hasher Maktoum Al Maktoum, CEO of Al Sajer Group of Companies and a member of the ruling family of Dubai, is the President and Chief Executive Officer of A1 Grand Prix.
South African businessman and entrepreneur Brian Menell, a principal partner and Director of Anglo Vaal Mining and Chairman of DiamondWorks is a founding executive director, as is Tony Texeira, a self-made millionaire whose background includes transportation and logistics, natural resources and international trading of oil and refined petroleum products.
Stephen Watson, a former F3000 racer and F1 test driver is General Manager, while Richard Dorfman, who is probably best known for his negotiations of the television rights for the last Rugby and Football World Cups, has recently been appointed as Director of Media Affairs and TV Rights.
Also in attendence at the launch was triple World Champion Niki Lauda, as well as present aces Juan Pablo Montoya and Rubens Barrichello.
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Bron: persrelease van Lola
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