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SBD Global/December 6, 2013/Franchises

Virgin Racing To Enter Formula E Championship As Circuit's Ninth Team

Virgin will enter a team in the Formula E Championship when the new global electric motor racing series kicks off in '14. The Virgin Racing Formula E Team is headed by Team Principal Alex Tai and has the backing of Virgin Founder Richard Branson. Branson: "The launch of the Formula E Championship is exciting news for racing fans but also for those that believe in developing the great electric cars of the future" (Virgin). U.K.-based Virgin Racing will now await final approval from the FIA to become the ninth of 10 teams to enter the championship. They join IndyCar outfits Andretti Autosport and Dragon Racing, Asia's China Racing, Super Aguri and Mahindra Racing, and European squads Drayson Racing, e.dams and Audi Sport ABT (Formula E). REUTERS' Keith Weir reported Virgin was involved in F1 racing for two seasons from '10. Tai had a "brief spell as head of the F1 team." The new series is backed by Spaniards Alejandro Agag and Enrique Banuelos, "who are investing" $100M in the project (REUTERS, 12/5).
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