The brand new FIA Formula E Championship, the fully-electric racing series which starts in September, pays €18 million to be endorsed by the FIA, motorsport’s governing body. According to documents seen by The Telegraph, the agreement consist a €3.1 million share of the proceeds from an estimated €15.4 million investment in December in Formula E’s Hong Kong-based parent company, Formula E Holdings (FEH).

Furthermore the British newspaper revealed that the teams will pay each a €50,000 fee to the FIA and will collect €100,000 per race. FEH has a 10-year contract, so it will yield at least €15m for the FIA.

About Tim Biesbrouck

Tim is currently working in international motorsports and found his passion for sustainable racing by joining world's first competition for hydrogen electric vehicles in 2008. He does not doubt on the possibility of a break through of electric racing. And that deserves a platform to keep up to date and to interact. Tim operates on behalf of Formula Blue Media.

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