On September 16, the all-electric racing series announced that the Former Manchester United Commercial Director Jamie Reigle will take the position of Formula E’s Chief Executive from Alejandro Agag with immediate effect. Jamie Reigle, the 42-year old Canadian has held several positions in the past. He was the executive vice-president of the NFL franchise’s business operations from the Los Angeles Rams. His expertise comes from decades of experience at the Premier League club and taking the responsibility of the global commercial operations. 

Alejandro Agag new Formula E. chairman

Chief Executive and founder of Formula E. Agag will take the position of Chairman. He is currently heading an Extreme E series, which is due to launch in 2021. The Extreme E. series will enlighten people about climate change and will display electric SUVs. The FIA has approved of the upcoming Championship with the commencement of the sixth season in November. The grand opening race will be held in Saudi Arabia.

Formula E. in a statement given to the international media stated that “Reigle will oversee the overall management of the company, day-to-day operations and the delivery of ambitious plans for growth on a global scale.”

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Jamie Reigle, new CEO of Formula E.

Reigle was appointed as United’s Hong Kong-based Asia Pacific Managing Director. He has experience working in different countries which adds to his advantage. The Canadian has served in North America, Europe, and Asia. In 2017, he joined the LA Rams. Agag, who is a Spanish native said in his interview that, “With his addition to our existing Executive Team, we have an incredibly strong line-up to continue building and developing Formula E through our next growth cycle.”

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Formula E. makes 50% profit

Last week, Formula E. reported its revenues, profits making, and its record audience figures. The Formula one empire presented its gratitude to its sponsorship growth. According to the statistics presented by them, the city-based series marked a 50% increase in the revenue growth to more than 200 million euros which are roughly $221.32 million last season. The report highlighted the major shareholders which were Liberty Global and Discovery Communications.

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