X1 Racing League signs agreement with FMSCI for exclusive rights

X1 Racing League signs agreement with FMSCI for exclusive rights

In June this year, the formation of Xtreme 1 Racing League or X1 Racing League was announced by Aditya Patel and Armaan Ebrahim, India’s top international drivers. It is the world’s first city-based motorsport league with a combination of circuit and street racing. Now the X1 Racing League has inked a pact with Federation of Motor Sports Clubs of India (FMSCI) for exclusive rights including sponsorship, broadcasting, advertising, intellectual property, franchising and new league rights. This is a shot in the arm for X1 Racing League, as the agreement ensures operational sustainability, long-term financial stability and high ROI for the league and all its stakeholders including investors, team owners, broadcasters and sponsors.

On the agreement with X1 Racing League, Rajan Syal – general secretary, FMSCI said, “This is another important milestone in motorsports, not just in India, but globally. We wish X1 Racing all the success. We are bullish about what the young entrepreneurs of X1 have in-store, and their intent to provide equal opportunities and empower women in racing shows the maturity of their vision, which the FMSCI is happy to endorse.”

The X1 Racing league has also partnered with Wasserman Media Group to strategise and establish the league structure, lead media rights sales and assist X1 Racing with monetizing the commercial rights.

On the partnership with X1 Racing league, Tag Garson – senior vice president, properties at Wasserman Media Group said, “Wasserman and X1 are a great match and we look forward to working together, along with the FMSCI. We are confident that our experience in media rights sales and monetizing commercial rights will aid X1 in its long-term strategies for the business of motorsports, and we are excited to see what sort of value this journey brings to all stakeholders.”

This deal enables X1 Racing League to invest in long-term R&D and infrastructure, and promote and develop motorsports by creating a commercially-viable sports media property and platform to nurture emerging young talent in India.

The X1 Racing League will feature eight teams consisting of four drivers, including one international male and one international female driver, with a mix of venues, both racetracks and street circuits. The league will also launch several ancillary properties under the X1 brand including e-sports simulators, remote-controlled races and alternative racing events, which will run for six months in a year.

Aditya Patel, founder, X1 Racing said, “The dynamism of FMSCI and its member clubs have enabled the growth of motorsports in India over several decades, and we are very proud today having signed this landmark agreement. We thank the FMSCI for their support of the league and backing our vision.”

Armaan Ebrahim, founder, X1 Racing said, “We had extensively scouted for the right partner to manage the commercial rights, both from India and overseas, and felt that Wasserman would be the best suited to help us become a household name in motorsports. We are excited to start the league in 2019 and make India a global motorsports destination and create a platform for the future superstars in motorsports.” Aditya further added, “For both of us, motorsports is a very important part of our lives. We cannot wait for the Indian audiences to experience motorsports like never before.”

India’s premier F1 racing track – Buddh International Ciruit in Noida, along with MMRT in Chennai  will be hosting the circuit races while the street races are being planned at in Hyderabad, Bangalore, Chandigarh, and Mumbai, like the layout of the Monaco and Singapore F1 races. Exciting times ahead, we say. The league has already submitted the circuit layouts to the international governing body for approvals, indicating its intent to ensure compliance to safety procedures and regulations, according to the press release.

For everyone wanting to know when the races will start, here’s good news – the races will take place on Saturdays and Sundays on four consecutive weekends in October-November 2019. Each race will be for a duration of 45 minutes and there will be three races per day with a total of 24 races over four race weekends.

The X1 Racing League aims to take motorsports in the country to the next level and it gives a great platform for experienced racing drivers to sharpen their wheelsmanship, while also unearthing new racing talent in the country.

Read more about X1 Racing league here.

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