BREAKING: FIA confirm MAJOR contract extension until 2048… Read more
FIA confirm MAJOR contract extension until 2048
The FIA have signed a major new contract extension with Formula E, ensuring the all-electric series will be exclusively governed and promoted by them until at least 2048.
Formula E’s future plans have taken a real hit recently, with one of the biggest racing teams in the world – McLaren – opting to pull out of the sport and instead focus their resources on a World Endurance Championship entry.This led to a scramble to find a buyer for the team, but a lack of any outside investment and concerns about the resources required for the restructuring of the team ahead of the next generation of Formula E meant that the team has been disbanded.
It means that there will likely be just 10 teams racing on the Formula E grid for the 2025/26 season, before the new generation of cars enter the sport in 2026/27.
Despite all of this uncertainty and a huge racing name ditching the series, the FIA have put their faith in Formula E, extending their exclusivity contract for another 10 years until at least 2048.The move is a huge boost for the series, and secures its future in a world where some racing series around the globe look set to be ready to ditch electrical power for the use of sustainable fuels in the upcoming years.
Formula E handed major contract extension
Mohammed Ben Sulayem, president of the FIA, said on the move to extend Formula E and the FIA’s partnership: “The extension of the agreement governing the FIA Formula E world championship is a fantastic outcome for the sport and a clear reflection of our ongoing strategy at the FIA to foster long-term stability, innovation, and growth across all areas of motorsport.
This milestone reaffirms our commitment to innovation, sustainability, and technological progress, which are all central to the championship’s unique identity and purpose.”It also aligns with our broader goal of increasing global participation and driving more accessible motorsport for all. We are delighted to be continuing this journey with Formula E, and I look forward to seeing it grow even further, both on and off the track, in the years to come.”
Meanwhile, Formula E’s CEO Jeff Dodd said: “Formula E’s growth since its inception has been nothing short of extraordinary, with hundreds of millions of fans and world-class teams and drivers deciding to choose highly competitive electric racing.”This long-term extension of the partnership enables us to continue building the brand, investing in the product and delivering some of the most captivating racing that has made us famous.”With this long-term extension, the opportunity that Formula E now has to impact world motorsport will be truly transformational.”
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