Formula E to create licensed karting venues across Saudi Arabia

Saudi Entertainment Ventures, a wholly owned subsidiary of PIF, will collaborate with all-electric series.
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Formula E has signed an agreement with Saudi Entertainment Ventures (Seven) to create licensed karting venues across Saudi Arabia.

Confirmed:

  • Karting venues to be built in in Riyadh, Jeddah, Dammam and Abha
  • Each attraction will offer a diverse selection of adult karts, junior karts and dual karts

Context:

Seven is a wholly owned subsidiary of the Public Investment Fund (PIF), which recently signed a deal to become principal sponsor of Formula E, as well as fellow all-electric series Extreme E and E1. Before that, PIF already owned a five per cent stake in Formula E.

Seven is investing more than SAR 50 billion (US$13.3 billion) to build 21 entertainment destinations which aim to provide unique and innovative world-class entertainment destinations and global partnerships from within the sector.

Comment:

Alberto Longo, co-founder and chief championship officer of Formula E, said: “We are thrilled to be working alongside Seven, the entertainment champion in KSA.

“Our objectives and goals align in bringing the excitement of Formula E to the kingdom and taking fans closer to real racing action through the Formula E Karting experience across the Seven destinations. I am confident this incredible initiative will accelerate the potential of Saudi Arabia’s promising young drivers and create a future world champion.”

Coming next:

Formula E is currently in the middle of its Saudi Arabian round, with races taking place on 26th and 27th January.

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