The E1 Series is the new standard of sports luxury. Rafael Nadal, LeBron James, Tom Brady and Will Smith are part of the cast of stars who direct some of their electric boat teams. Races, in places like Monaco, Miami or Lago Maggiore, can exceed $2,000 per entry. Speed, sustainability and opulence come together in the same sport.
The second season of the E1 Series recently ended in Miami with the victory of Brady’s team ahead of the squad led by Nadal. The Spanish tennis player, winner of 22 Grand Slam titles, had been precisely in 2023 one of the first to join the electric boat competition.
He was followed by the artist Marc Anthony, the DJ Steve Aoki, the former footballer Didier Drogba, the Indian cricket legend Virat Kohli, the Brazilian businessman Marcelo Claure and the aforementioned Brady, James and Smith, sports and entertainment figures who will be joined next year by a piece of royalty with the entry of Prince Albert II of Monaco’s team.
To enter to compete, the first thing they must do is pay an entry fee estimated at around two million dollars, in addition to an operating fee to finance logistics, and, in exchange, they have 80% of the boat to find their own sponsors.
They are also asked to carry out activities or initiatives that promote the defense of the environment and especially the care of the seas, to aspire to be awarded the “Blue Impact” award for their activism.
Word of mouth was essential for the competition, which is supported by the International Motorcycle Union (UIM), to present such a constellation of stars, said the co-founder and executive director of the E1 Series, Rodi Basso.
This Italian engineer was one of the creators of the E1 along with the Spanish Alejandro Agag, who is also behind the creation of two other electric championships: Formula E and Extreme E.
“We started with athletes, so it was very natural, and then we moved to the world of entertainment. This is an opportunity for us because we are looking for the perfect balance between sports and entertainment,” said Basso.
In its second season, the competition featured nine teams that traveled across four continents to compete in the seven races of the championship. The globalization of this sport was one of the goals of its founders when it was barely an idea on paper, and according to what they say, that vision is being fulfilled.
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E1 is broadcast in 140 countries
The nine owners have accumulated more than 1.2 billion followers on social networks and E1 is broadcast in 140 countries, with a potential audience of more than 2.1 billion people.
However, Basso assured that the objective for next season is to consolidate, reaching long-term agreements with the cities on the calendar, increasing the number of sponsors and stabilizing deals with television stations.
They also have in mind adding one or two new teams, apart from the already announced Prince Albert, which would increase income.
“We are doing very well. We have reached break-even in the first year and in the second we are going to make profits,” said Basso. The championship has the Saudi Arabian Public Investment Fund (PIF) as its main partner.
In addition to the entry and operating fees paid by the teams, and the broadcasting rights, these incomes also come from the fee paid by the cities for hosting the races, ticket sales and sponsorships.
In the case of the last Miami Grand Prix, the cost of a ticket to the VIP area was between $1,100 and $2,100, but it included other benefits such as a live DJ, an exclusive performance by Cirque du Soleil or high-end cuisine and drinks.
This opulence, however, is always intertwined with another of the competition’s fundamental goals, according to its founders: raising awareness about the environment.
Last week in Miami, Basso indicated that several teams had organized beach waste cleanup events, and recalled that all the squads compete outside the water to be recognized as the one that carries out the most effective actions.
After being launched on a trial basis during the first season, this initiative will recognize a winner in its second year, through a vote of fans and scientific experts.
With information from EFE
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