Dec 19, 2013, 5:30 PM EDT
The all-electric FIA Formula E Championship has received a $21 million investment from Boston Celtics managing partner Wyc Grousbeck (pictured, left) and a dozen of his co-owners in the legendary NBA team according to the Associated Press.
The AP reports that Formula E is the first investment for Grousbeck’s Causeway Media Partners, a recently-formed company that has raised about $100 million to invest in sports and entertainment properties.
Mark Wan (pictured, right), a co-owner of both the Celtics and the NFL’s San Francisco 49ers, and Bob Higgins (pictured, center) are managing partners at Causeway alongside Grousbeck, who led the group that bought the Celtics in 2002 and guided the franchise to its 17th NBA title in 2008.
“We know the power of competition and entertainment, and will bring our knowledge to the development of the market for electric vehicles,” Grousbeck said to the AP.
“Causeway’s mission is to find investment opportunities that benefit from our deep network of NBA and NFL team owners, media executives and professional investors. Formula E is a perfect match.”
The investment marks yet another link to the United States for Formula E, which will stage two American rounds in 2014-2015 at Los Angeles and Miami. Additionally, a pair of U.S.-based teams, Andretti Autosport and Dragon Racing, will be part of the group of squads vying for the inaugural series title.
Alejandro Agag, CEO of Formula E Holdings, has always maintained that the U.S. represents a critical market, and in an e-mail to the AP, he said that Causeway’s involvement will help raise the series’ profile here at home.
“To have a partner that knows deeply the U.S. sports market places us in a unique position to develop our championship in the Americas,” Agag said.
In addition to his company’s investment, Grousbeck will also serve on the board of Formula E Holdings.
Sep 1, 2014, 4:45 PM EDT
Coming up today: Highlights from Kasey Kahne’s clutch Atlanta win; assessing Tony Stewart’s comeback; the Chase outlook with one regular season race left; more problems in pits for Kevin Harvick.
Sep 1, 2014, 4:15 PM EDT
Writer’s Note: The following is a recap of this weekend’s TORC: The Off-Road Championship season finale at Crandon, Wisconsin. NBCSN will air the races this Saturday, Sept. 6, at 3:30 p.m. ET. If you don’t want to know who won until then, we suggest you find another post to read here on MotorSportsTalk…
Sep 1, 2014, 3:11 PM EDT
For Clint Bowyer and Kyle Larson, winning on Saturday night will be all that matters if they want a spot in the Chase.
Sep 1, 2014, 2:00 PM EDT
Ed Carpenter Racing and Sarah Fisher Hartman Racing end as the top single-car teams in 2014, before merging in 2015.
Sep 1, 2014, 1:38 PM EDT
Kasey Kahne saves his season in Atlanta, while Will Power changes his career in Fontana.
Sep 1, 2014, 12:00 PM EDT
Carlos Munoz takes home the top rookie honors after a successful first full season in the Verizon IndyCar Series.
Sep 1, 2014, 11:15 AM EDT
Honda’s motorsport chief provides an update on the company’s F1 engine progress.
Sep 1, 2014, 10:27 AM EDT
IndyCar championship banquet goes off quickly, smoothly with a good bit of humor.
Sep 1, 2014, 1:25 AM EDT
The result beats her previous high water mark of seventh this past May at Kansas.
Sep 1, 2014, 1:10 AM EDT
HAMPTON, Ga. — It was a rough night for a number of drivers in Sunday’s Oral-B USA 500 NASCAR Sprint Cup race at Atlanta, including Kevin Harvick, Clint Bowyer and Marcos Ambrose.
Sep 1, 2014, 12:43 AM EDT
Matt Kenseth enters the post-season with a second place result, while Clint Bowyer finds himself outside the Chase Grid going into next Saturday’s regular season finale.
Sep 1, 2014, 12:14 AM EDT
HAMPTON, Ga. – Kasey Kahne’s 17th career Sprint Cup win couldn’t have been any larger.
Aug 31, 2014, 10:07 PM EDT
HAMPTON, Ga. – It was not the comeback that Tony Stewart had hoped for.
Aug 31, 2014, 9:45 PM EDT
Tony Stewart’s return to competition tonight at Atlanta Motor Speedway has encountered some trouble after a restart run-in with “Rowdy.”
Schumacher (TF), Hagan (FC), Line (PS), Krawiec (PSM) ones to beat in Monday’s NHRA U.S. Nationals finals
Aug 31, 2014, 9:08 PM EDT
Following Sunday’s final round of qualifying, Tony Schumacher (Top Fuel), Matt Hagan (Funny Car), Jason Line (Pro Stock) and Eddie Krawiec (Pro Stock Motorcycle) will lead their respective classes as No. 1 qualifiers for Monday’s final eliminations of the 60th annual Chevrolet Performance U.S. Nationals.
Aug 31, 2014, 7:28 PM EDT
HAMPTON, Ga. — There was no question which driver received the most applause and cheers during driver introductions prior to the start of Sunday night’s Oral-B USA 500 at Atlanta Motor Speedway.
Aug 31, 2014, 7:00 PM EDT
Rush Truck Centers’ CEO: “We stand with Tony.”
Aug 31, 2014, 5:34 PM EDT
Matt Kenseth can clinch a spot in the post-season with a finish of seventh or better in tonight’s race at Atlanta Motor Speedway.
Aug 31, 2014, 4:25 PM EDT
HAMPTON, Ga. — Atlanta Motor Speedway will honor longtime Atlanta-area broadcaster and motorsports reporter “Capt. Herb” Emory, who passed away in April at the age of 61, prior to Sunday’s Oral-B USA 500 NASCAR Sprint Cup race.
Aug 31, 2014, 4:09 PM EDT
Ryan Blaney uses a cross-over move on German Quiroga in the final corner and then beats him to the stripe, winning the Chevrolet Silverado 250.
Video from NASCAR America
- Feelin’ free: Frustrations end for Chase-bound Kahne, IndyCar champ Power 1
- Honda preps for first simulations, expresses confidence it can match Mercedes 3
- Kenseth clinches Chase berth; Bowyer falls out of Grid with one race to go 1
- Kasey Kahne rallies in last 2 laps to win at Atlanta, makes Chase 1
- Tony Stewart’s comeback hopes end with rough 41st-place finish at Atlanta 2
- Tony Stewart the obvious fan favorite during pre-race introductions at Atlanta 3
- Still searching: Castroneves finishes 14th, falls short of IndyCar title (VIDEO) 1