Formula E Sets New Financial Cap

    • Formula E will impose new financial regulations.
    • The regulations have been approved by the FIA World Motor Sport Council.

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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.