A US investor group has taken over the ownership ROKiT Venturi Racing ahead of Formula E’s seventh season.
The Monegasque marque joined Formula E in 2013 and has consistently participated in the series since Season 1, taking one victory and five further podiums to date.
The investor group was led by American Scott Swid and José M Aznar Botella – son of the former Prime Minister of Spain.
This news follows one week on from the confirmed departure of Audi and BMW, with both German outfits leaving the championship at the end of impending Season 7 campaign.
As part of this change in ownership, the Venturi name will remain in Formula E while the squad will still be based in Monaco. Susie Wolff will remain in her position as Team Principal while Founder, Gildo Pastor, will retain an interest.
“We move forward into our next chapter as a team under the new ownership led by Jose and Scott and I am pleased to become a Managing Partner alongside my role as Team Principal,” said Wolff, who joined the team in 2018.
“The investment experience of Scott and Jose will strengthen the team‘s capabilities and provide us with interesting new perspectives and opportunities for the future.
“This move also demonstrates the positive role that the forthcoming cost cap has to play in the commercial viability and therefore appeal of the sport to investors and partners.
“I want to also take this opportunity to thank Gildo for his trust and unwavering support. I have thoroughly enjoyed working with such a visionary and have no doubt that Gildo will continue to push the boundaries of sustainable mobility far beyond what many dare to deem possible.”
Newly appointed ROKiT Venturi Racing Chairman, Scott Swid, continued: “Initially, we were looking at Formula 1 from an investment perspective – but understandably José is a big believer in the potential of Formula E and introduced me to Susie.
“From our first meeting, I could see the unique business case the sport and the team present.
“Investing in Venturi, with its heritage as an original team guided by the visionary Gildo Pastor, and competing in an exciting sport that promotes global sustainability and pioneering electric mobility is a great opportunity.
“Every forward-thinking corporate board in the world is cognisant of the importance of sustainability and is looking for ways to invest in its future.
“Formula E is in its intermediate stage, having successfully overcome the hurdles of its early period.
“With this strong foundation, it is a great time to invest when the championship is established and there is still so much growth to come.”
If I’m tired and need to take a nap I will turn on a Formula E event, works EVERY TIME. Notice I didn’t call it a race, it’s an event, at best.