- Executives include Martin Budkowski and Sir Keith Mills
- 20 teams to represent countries around the world
- Cars set to run on sustainable fuel
- Schedule not looking to compete with F1; would run from December-July
A group of investors is looking to raise US$100 million (UK£80 million) in an attempt to revive A1GP, the motor racing series contested by nations around the world, as reported by Sky News.
The executives involved are said to include former Alpine Formula One team principal Marcin Budkowksi and Sir Keith Mills, deputy chairman of the London Organising Committee for the Olympic Games and founder of the Nectar loyalty scheme.
If the fundraising is successful, the idea is for 20 teams representing countries around the globe would compete in the World Cup of Motorsport, with all drivers competing in the same specification of car.
Sky News reports that the cars would be designed to run on sustainable fuel and could have a top speed of approximately 350km/h (217mph), which would make it the second-fastest series in the world behind Formula One.
The report reveals that a working prototype has already been constructed, while talks with car and engine manufacturers are well underway. It is envisaged that the series could feature teams from countries including Great Britain, China, Italy, Saudi Arabia and the US.
The commercial operations of the venture will be led by an as-yet unnamed executive, according to Sky News.
The goal is for the revived series to take place across 12 races in all continents, and it would run from December to July. Organisers are expected to place a particular emphasis on fan accessibility through low-cost admission pricing.
“There is strong appetite for nation v nation competition in sport, and motorsport is no exception,” one industry executive told Sky News.
The schedule would not look to compete with Formula One, Sky says, instead looking to stage numerous races during the Formula One off-season. Such a schedule would minimise the cost of air freight to both the environment and team’s finances.
Sky adds that each national team would be made up of one experienced driver and one younger competitor who would be chosen through an annual talent competition, which could be its own televised event.
The last season of A1GP ran in 2008/09, featuring drivers like Narain Karthikeyan and Vitantonio Liuzzi before their Formula One debuts, while drivers like Nico Hülkenberg, Will Power and Sergio Pérez also took part in the series during its four years of existence.