Formula E outfit Kiro Race Co has announced an expansion of its ownership group, with Golden Globe-winning actor Idris Elba part of a new investor group.
The American team, formerly ERT, which was bought by the Los Angeles-based investment firm The Forest Road Company, now adds the Powerhouse Investor Group to an amalgamated ownership.
The organisation, according to Kiro, boasts “global business leaders, sports innovators, and strategic investors,” with a long list of individuals including Elba, the Principal Owner of the Atlanta Hawks basketball team, Tony Ressler, as well as Bennett Rosenthal and Larry Berg, the Lead Managing Owner and Co-Managing owner of Los Angeles Football Club.
Jeremy Tarica, the Managing Director of The Forest Road Company, said: “Since we started our Formula E journey, Kiro Race Co has achieved several key milestones, from securing a multi-year, co-title partnership with CUPRA, to a top 10 finish on our competitive debut.
“Today’s announcement marks the next step in our journey, underscoring our belief in Formula E’s growth potential and our commitment to pushing boundaries.
“With our exceptional investor group bringing business acumen, cultural renown, and entrepreneurial drive, we are poised to accelerate KIRO’s success and establish ourselves as a leading force in motorsport and beyond.”
Idris Elba proud to join Kiro Formula E squad
Elba said Formula E is “the perfect intersection by blending sport and global entertainment with sustainability.
“I’m proud to be joining the grid with CUPRA KIRO at this pivotal moment,” Elba added.
“The team’s vision for the future, desire to innovate, and commitment to excellence resonate with me on a deep, personal level, and I’m looking forward to playing my part in its journey to the front of the grid.”
Formula E CEO Jeff Dodds said: “The arrival of this new investor group marks a transformative moment for Kiro Race Co and serves as a resounding endorsement of its strategic growth plan.
“This impressive group brings unparalleled expertise and a diverse, well-rounded perspective that will catalyse growth not just for the team, but for the entire championship.”
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