Formula E CEO Jeff Dodds and four-time Formula 1 World Champion Max Verstappen have each pledged $125,000 to worthwhile causes in light of an extraordinary sporting bet.
Amid Verstappen’s 2023 dominance and similarly strong start to 2024, Dodds made a ‘bet’ during an interview earlier in 2024 whereby he pledged Formula E would donate $250,000 to charity if the Dutchman didn’t win a fourth successive F1 title.
Verstappen scuppered those plans, but good to his word, Dodds corralled the Dutchman on a joint video call into splitting the $250,000 to charitable causes regardless.
Formula E’s donation is going to kickstart the development of furthering female participation in motorsport and the series is partnering with More than Equal to further research into gender equality in racing.
Verstappen’s half is going to Oracle Red Bull Racing charity Wings For Life, the not-for-profit foundation for spinal cord research.
Formula E and Max Verstappen comment on landmark donations
“What started as a very tongue-in-cheek ‘bet’ at the start of the season has evolved into a serious commitment to support gender equity within our Championship, with the ultimate goal of seeing women competing full-time in Formula E,” said Dodds.
“As a first step, the research we have commissioned in partnership with More Than Equal will help us better understand the barriers to entry that women currently face, and how specifically Formula E and our teams can provide greater parity, opportunities and inclusion at the top level of our championship.
“My thanks also go to Max and Oracle Red Bull Racing for committing half of the money from my original wager to Wings For Life to support the important work they do around spinal cord research.
“Congratulations to Max on his fourth-consecutive World Drivers’ Championship and we look forward to even more competitive racing next season.
“Meanwhile, the new Formula E season is already well underway and we’re excited to showcase more thrilling races, lots of exciting overtaking and fantastic wheel-to-wheel action for our fans across the globe.”
Verstappen said: “The charity closest to me is Wings For Life and I’m sure they’ll be very grateful; and to support any kind of motorsport and young talent is amazing, so I think it’s a great shout from you. Thank you very much Jeff, I wish you all the best of course, and I’ll be watching the championship during my time off!”
Dr. Fran Longstaff, Head of Research at More than Equal, said: “Formula E has demonstrated a strong commitment to developing and providing opportunities for female drivers, and we’re thrilled to partner with them on this important research initiative.
“This project will use our expertise to identify the key factors that contribute to success in this unique and rapidly evolving series, which demands a distinctive blend of skills and experience.
“By working closely with drivers, team managers, engineers, and other experts, we aim to translate these insights into actionable recommendations for driver development.”
Anita Gerhardter, CEO, Wings for Life, said: “A big thank you to Jeff Dodds, the entire Formula E team and Max Verstappen for this generous donation to Wings for Life.
“100% of the donation will go towards promising research projects around the world to help find a cure for spinal cord injury.”
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