- Sep 26, 2010
The rapid rise of Formula E seems set to continue after the news was revealed today that U.S. cable billionaire John Malone has become the largest backer of the new FIA championship.
Fresh off the back of failed negotiations with Bernie Ecclestone to invest in Formula One, Malone has instead chosen Formula E as the recipients of his companies backing. Present of Liberty Global media investment group, Niall Curran, said “Like Formula E, our business is closely connected to sustainability, speed and entertainment, so this is a great match. We are delighted to be supporting Alejandro and his team in building this new global sports media property, while building our portfolio of strategic content investments’
Meanwhile Alejandro Agag, CEO of Formula E claimed that the investment was ‘a significant step forward for Formula E’ and that ‘the experience and knowhow (Liberty Global brings) will provide a significant boost to Formula E’
Whilst as of yet clear exactly how Liberty Global will help the series grow this news is certainly very positive, especially when combined with the impressive entry list planned for the championship’s second season. It seems Formula E won't be going the way of A1GP anytime soon.