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Closing Bell

Formula E Set For N.Y. Debut With Weekend Race In Brooklyn

The Qualcomm New York City ePrix runs Saturday-Sunday in Brooklyn, marking the first FIA-sanctioned race in N.Y. in "modern history." Organizers said that it will be a "highlight of the three-year-old Formula E circuit." Formula E did not discuss expenditures or expected revenues, but said that they invested at least $20M in "staging the race." The event is "sold out, with 8,000 fans expected each day in the newly erected grandstands." Formula E CEO Alejandro Agag said that "organizers were 'quite cautious' when deciding the size of the grandstands" (WALL STREET JOURNAL, 7/14). Staging the race on the Brooklyn Cruise Terminal grounds "avoids closing any public streets" (AMNY.com, 7/12).

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