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Idris Elba And Strategic Investors Expand Ownership Of Kiro Race Co In Formula E
Kiro Race Co, a new entrant in Formula E, has broadened its ownership with global business leaders and sports innovators. The team, known as CUPRA KIRO in the FIA Formula E World Championship, is backed by strategic investors. This expansion highlights the growing commercial allure of Formula E following Kiro's acquisition by The Forest Road Company in October 2024.
Idris Elba, a Golden Globe-winning actor and producer, is among the new investors. Others include sports team owners Tony Ressler, Larry Berg, and Shaun Neff; media figures Navid Mahmoodzagedan, Steve Bornstein, and Rick Hess; and strategic advisors Jeffrey Assaf, Caleb Kramer, and Michael Woronoff. Each brings unique expertise to enhance KIRO's global impact.
The diverse investor group signifies a new era for KIRO, aiming to strategically position the team for long-term growth. David Kaplan leads as Team Managing Partner alongside Bennett Rosenthal. Their combined efforts focus on strengthening KIRO's presence in motorsport while driving fan engagement worldwide.
Jeremy Tarica from The Forest Road Company stated: "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."
Formula E blends sport with global entertainment and sustainability. Idris Elba expressed pride in joining CUPRA KIRO at this crucial time. He said: "The team’s vision for the future, desire to innovate, and commitment to excellence resonate with me on a deep personal level." His involvement underscores the team's innovative spirit.
Jeff Dodds of Formula E remarked: "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 endorsement reflects confidence in both KIRO's strategy and Formula E's potential.
Recent Milestones and Future Prospects
KIRO recently celebrated several milestones. They launched their Formula E journey with a major partnership with CUPRA and achieved a landmark points finish at the São Paulo E-Prix in December 2024. A bold new livery was unveiled at the Mexico City E-Prix in January 2025 to celebrate their partnership.
The ABB FIA Formula E World Championship is renowned for its all-electric racing format. It showcases elite motorsport in iconic cities worldwide while promoting electric vehicle innovation. This platform unites teams, manufacturers, partners, broadcasters, and host cities under a shared passion for sustainable progress.
ABB supports electrification and automation globally to enhance sustainability. With over 140 years of history and more than 105,000 employees worldwide, ABB connects engineering expertise to help industries perform efficiently. Their shares are listed on the SIX Swiss Exchange (ABBN) and Nasdaq Stockholm (ABB).
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