Formula E, a single-seater motorsport championship that only uses electric cars, will impose new financial regulations approved by the FIA World Motor Sport Council.
The regulations enhance the long-term financial sustainability of Formula E by monitoring and controlling the spending levels of teams and their manufacturers.
Formula E believes the regulations will help attract new investors, commercial partners, and retain current participants. They’ll go into effect Oct. 1, 2022 for Season 9 of the ABB FIA Formula E World Championship.
- The spending level for teams in Season 9 and 10 will be $14.6 million per season.
- Manufacturers have a limit of $28.1 million over two seasons starting with Season 9.
- Starting with Season 11, team spending will increase to $16.8 million.
Substantial Growth
Formula E’s new regulations follow a strong few years for the motorsport championship, which turned a profit for the first time in 2019 with $220.5 million in revenue.
In its seventh season, which took place between February and August of 2021, Formula E’s live race viewership grew by 125% in key overseas markets, per SportsPro. The series saw 25% year-over-year audience growth in the U.S. with its New York E-Prix and other races on CBS.
Total viewership reached 316 million across 15 races in Season 7, a 32% uptick year-over-year.
