London Daily

Focus on the big picture.
Sunday, Jun 01, 2025

Heavyweight execs seek $100m to put World Cup of Motorsport on starting grid

Heavyweight execs seek $100m to put World Cup of Motorsport on starting grid

Sir Keith Mills, the architect of London's 2012 Olympics bid, is part of a group plotting the revival of A1GP after a 15-year absence.
Executives including a former director of world motorsport's governing body and the Nectar loyalty scheme founder Sir Keith Mills are in talks to raise $100m (£80m) to finance the rebirth of A1GP, the motor racing series contested by national teams from around the globe.

Sky News has learnt that heavyweight names from the sporting and business arenas are pitching to investors to secure the financing in order to relaunch the series - which was last staged in 2008-09 - by the end of next year.

If the fundraising is successful, 20 teams representing countries from around the world would compete for the World Cup of Motorsport, with every driver competing in a single specification of car.

The open-cockpit vehicles would have a top speed of approximately 350kph, potentially making A1GP the second-fastest motor racing series in the world, behind F1.

In a nod to growing concerns about the environmental impact of elite motorsport, the cars would be designed to run on sustainable fuel.

Sources said a number of deep-pocketed investment funds and individuals had already expressed interest in financing the project.

The project is being spearheaded by a team including Marcin Budkowski, a former team principal at the Alpine F1 team and previously a director of the Federation Internationale de l'Automobile (FIA).

Its commercial operations will be led by an as-yet unnamed executive, according to one insider.

The plot is being put together in collaboration with Origin Sports Group, a sports investment firm which has played a key role in globally renowned events including the America's Cup World Series and the Invictus Games.

Origin's founder, Sir Keith, who led London's successful bid to host the 2012 Olympic Games and is now a director of Allwyn, the next operator of the National Lottery, is acting as a senior adviser to the venture.

David White, a former global president of the French media giant Lagardere, is also involved in the project, while Mike Gascoyne, the F1 technical veteran, has been enlisted as an adviser.

Prospective investors who have been approached about backing A1GP said it was envisaged that the series could feature teams from countries including Britain, China, Italy, Saudi Arabia and the USA.

Talks with car and engine manufacturers are underway, according to insiders, with a working prototype already built.

A1GP would not seek to compete directly with F1, they added, but would instead stage a number of its races during the F1 off-season.

"There is strong appetite for nation vs nation competition in sport, and motorsport is no exception," said one industry executive.

The revamped series would take place across 12 races, spread across Europe, North America, Latin America, the Middle East, Africa, and Asia-Pacific.

A1GP's season would run from December to July, with the organisers expected to place a strong emphasis on fan accessibility through low-cost general admission pricing.

Its schedule would be designed to minimise air freight costs for both financial and environmental reasons, one potential investor said.

Each national team would feature one experienced racing driver, and one younger competitor who would be selected through an annual talent competition that could itself be televised.

One source said the prospective revival of A1GP represented a bet that growing international TV audiences could be sustained.

The Netflix fly-on-the-wall documentary series Drive To Survive has been credited with opening up F1 to demographic groups which had previously shown little interest in the sport.

F1 is broadcast in markets including the UK, Italy and Germany by Sky Sports, which shares a parent company with Sky News.

In its original incarnation, A1GP's final race took place in May 2009, with the global financial crisis putting paid to hopes of raising sufficient funding to keep it going.

The executives behind the new version are said to have devised a financial model which would see the World Cup of Motorsport's teams centrally owned and managed, with the potential to raise funds from the sale of individual franchises at a later date.

None of those involved in A1GP could be reached for comment this weekend.
Newsletter

Related Articles

0:00
0:00
Close
Hegseth Warns of Potential Chinese Military Action Against Taiwan
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Jamie Dimon Warns U.S. Bond Market Faces Pressure from Rising Debt
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Taylor Swift Gains Ownership of Her First Six Albums
Bangkok Ranked World's Top City for Remote Work in 2025
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
U.S. Justice Department Reduces American Bar Association's Role in Judicial Nominations
U.S. Department of Energy Unveils 'Doudna' Supercomputer to Advance AI Research
U.S. SEC Dismisses Lawsuit Against Binance Amid Regulatory Shift
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
Italy Faces Population Decline Amid Youth Emigration
U.S. Goods Imports Plunge Nearly 20% Amid Tariff Disruptions
OpenAI Faces Competition from Cheaper AI Rivals
Foreign Tax Provision in U.S. Budget Bill Alarms Investors
Trump Accuses China of Violating Trade Agreement
Gerry Adams Wins Libel Case Against BBC
Russia Accuses Serbia of Supplying Arms to Ukraine
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
Chinese Woman Dies After Being Forced to Visit Bank Despite Critical Illness
President Trump Grants Full Pardons to Reality TV Stars Todd and Julie Chrisley
Texas Enacts App Store Accountability Act Mandating Age Verification
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Vatican Calls for Sustainable Tourism in 2025 Message
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Trump Threatens 25% Tariff on iPhones Amid Dispute with Apple CEO
Putin's Helicopter Reportedly Targeted by Ukrainian Drones
Liverpool Car Ramming Incident Leaves Multiple Injured
Australia Faces Immigration Debate Following Labor Party Victory
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
Macron Dismisses Viral Video of Wife's Gesture as Playful Banter
Cleveland Clinic Study Questions Effectiveness of Recent Flu Vaccine
Netanyahu Accuses Starmer of Siding with Hamas
Junior Doctors Threaten Strike Over 4% Pay Offer
×