Formula E CEO Alejandro Agag Says He Has Been Pleased With Series' Evolution

Formula E CEO Alejandro Agag "appears delighted with the evolution of the series, which has exceeded the most optimistic predictions in its third season," according to the EFE. Agag: "This season we will break the €100 million ($106M) barrier in revenue, and if we weren't investing so much in advertising, we would already have reached the threshold of profitability. This is going much faster than we thought when we created the business plan." He added, "I remember in that PowerPoint that we did when we began, we said that in season three we would have three constructors -- we have seven -- and we would become profitable in season five." Agag said of Formula E's partners, "The big brands are entering -- Renault, Audi, BMW and Jaguar will be joined soon by Mercedes. We have a very strong group of sponsors -- the latest to enter was Allianz. In fact, we did not expect to have so many companies, or to have ones as good as ours, so soon" (EFE, 3/4).