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Formula E has secured a title sponsor for its lone U.S. race this weekend. Electric vehicle company Faraday Future will be the title sponsor of the 2016 Long Beach ePrix. The one-race deal has an estimated mid six-figure value, according to a source with knowledge of the deal. Formula E CRO Sam Piccione told SBD Global while it is just a one-off partnership, FF is “very interested in further exploring a relationship with the championship and even a team.” As part of the deal, FF’s branding will be prominently featured during Saturday’s event. The company will also display its FFZERO1 concept car in the eVillage fan zone. Monday’s announcement is a positive sign for Formula E, which has struggled to attract local sponsorship interest in the U.S. Last year’s Long Beach ePrix did not have a title sponsor and the Miami ePrix, which was part of the electric racing series’ inaugural ’14-15 season, lost its spot on the calendar in large part due to a lack of sponsorship interest in South Florida, Formula E CEO Alejandro Agag said. In addition to FF, race organizers were able to add the Port of Long Beach as a local race partner, Piccione said. The port decided to include Saturday's ePrix in its sponsorship of the IndyCar Grand Prix of Long Beach, which is scheduled to take place on April 17. The port's branding will be featured on the same bridge at both races. In the eVillage, organizers have been able to sell spaces to Evercharge, Welk Resort Group and Charge Across Town, Piccione added. Formula E did not respond to a request for comment about ticket sales for Saturday's race. Free admission drew more than 20,000 spectators to last year's Long Beach ePrix. Ticket prices for this year's event start at $30.
