A1GP

A1 Grand Prix gains financial backing

LONDON FINANCIAL INSTITUTIONS BACK A1 GRAND PRIX London -- Attracted by the success of A1 Grand Prix's (A1GP) first racing season, major London investors have committed to providing full funding for the Series, assuring a strong future for the ...

Edited: Dec 11, 2006, 4:04 AM

Copy link

Share on Viber

Add as a preferred source

LONDON FINANCIAL INSTITUTIONS BACK A1 GRAND PRIX

London -- Attracted by the success of A1 Grand Prix's (A1GP) first racing season, major London investors have committed to providing full funding for the Series, assuring a strong future for the first ever World Cup of Motorsport.

A1GP has engaged Nomura to raise an institutionally targeted debt financing prior to an Initial Public Offering (IPO), to support the growth of the Series over the coming years.

RAB Capital plc, a leading investment manager listed in London, acting as lead investor along with other financial institutions, has committed sufficient capital through equity investments and convertible stock to complement the debt financing arranged by Nomura with the intention that A1 Holdings Ltd will IPO in the forthcoming months. Through this financing, A1 Grand Prix is able to commit to a long term future with sponsors, suppliers, promoters and national A1 teams.

Commenting on the new financing, A1GP Deputy Chairman and Co-Founder, Tony Teixeira said: 'Since the launch of A1GP in March 2004, the company has gone from strength to strength. I am delighted that after a strong first season, A1 Grand Prix has attracted the support of high profile investors committed to progressing the Series to the next level. In A1 Grand Prix, we have a unique and innovative product, a fact which has been recognised by RAB Capital plc and Nomura. I would like to thank all parties involved and look forward to a bright future for A1 Grand Prix, supported by these established City institutions.'

A1 Grand Prix is now finalising the race calendar for the 2006/07 season ahead of an announcement to be made shortly. Demonstrating the popularity of the Series, grandstand tickets for the first race of the season at Circuit Park Zandvoort in the Netherlands on 1 October 2006, sold out in just five days.

-a1gp

We want your opinion!

What would you like to see on Motorsport.com?

Take our 5 minute survey.

- The Motorsport.com Team

Read and post comments

Share Or Save This Story

Copy link

Share on Viber

Previous article Shanghai: Cooper Tire race report

Next article Robbie Kerr reunites with team GBR to have fun

Top Comments

There are no comments at the moment. Would you like to write one?

View More & Comment

Latest news

Ducati says Aprilia “can do whatever they want” amid team order talks in MotoGP

MotoGP

MGP MotoGP

Australian GP

1 min

Ducati says Aprilia “can do whatever they want” amid team order talks in MotoGP

Why it's now Oliver Bearman versus Rafael Camara for the next Ferrari vacancy

Formula 1

F1 Formula 1

United States GP

22 min

Why it's now Oliver Bearman versus Rafael Camara for the next Ferrari vacancy

MotoGP Australian GP: Marco Bezzecchi leads Aprilia 1-2-4-5 in Friday Practice

MotoGP

MGP MotoGP

Australian GP

2 h

MotoGP Australian GP: Marco Bezzecchi leads Aprilia 1-2-4-5 in Friday Practice

Max Verstappen slams “unacceptable” bumps at Austin F1 track: “It's out of control”

Formula 1

F1 Formula 1

United States GP

10 h

Max Verstappen slams “unacceptable” bumps at Austin F1 track: “It's out of control”

Subscribe and access Motorsport.com with your ad-blocker.

From Formula 1 to MotoGP we report straight from the paddock because we love our sport, just like you. In order to keep delivering our expert journalism, our website uses advertising. Still, we want to give you the opportunity to enjoy an ad-free and tracker-free website and to continue using your adblocker.

You have 2 options:

Become a subscriber.
Disable your adblocker.

Subscribe now Already subscribed? Sign in here

Already disabled your adblocker?
Reload page

Manage Alerts