CMC Capital Partners, founded by Chinese media mogul Li Ruigang, announced an investment in Formula E Holdings, the official promoter of Formula E, according to Peggy Sito of the SOUTH CHINA MORNING POST. The investment valued in the "tens of millions of euros" is led by CMC Capital, according to a company announcement. The consortium "also includes China’s sports marketing and management company SECA, a unit of CMC Capital group." Formula E was launched in '14 as the world’s first all-electric single-seater racing series. Li said that Formula E has "quickly evolved into a premium global sports intellectual property promoting sustainability, innovation, and market penetration of electric vehicles," as well as in media partnerships, sponsorships and tourism. Li: "CMC will join hands with SECA to help expand Formula E’s presence globally and in China." CMC said that the investment in Formula E represents the organization's "latest effort in developing and investing in premium global sports intellectual properties." The company signed a deal in Oct. '15 for the exclusive global broadcast rights to the Chinese Super League over the next five years (SCMP, 2/14).
