Formula E's founder and CEO, Alejandro Agag, has placed a €600million bid to gain full ownership of the all-electric single seater series.
Since Formula E's inception and debut season in 2014, the championship has constantly defied expectations and has made history, racing in Rome this season while Switzerland's 60-year drought in circuit racing is set to end through the inaugural Zurich ePrix this June.
A spokesperson of Formula E confirmed that Agag had written a letter to the chairman of the series' board of directors, highlighting his plans.
“As an entrepreneur I would like to increase my interest in the business and influence in its future direction," wrote Agag according to Motorsport.com.
“I strongly believe in the future of Formula E and this offer is an expression of that confidence.
“For this reason I would like to make a proposal to buy all the shares in the company at a value of 600 million euros equity value.”
Now in its fourth season, Formula E has secured an impressive list of manufacturers, with the likes of Audi, DS Performance, Renault and Jaguar all having involvement in the series.
For the introduction of the Gen2 car in Season Five, Formula E will also see the arrival of BMW and Japanese car giant Nissan, who will replace Renault at the French e.dams outfit while Mercedes and Porsche will also join the grid for 2019.
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