P1racenews AI automatic summary:
Formula E outfit Kiro Race Co has announced an expansion of its ownership group, with Golden Globe-winning actor Idris Elba part of a new investor group.
The American team, previously known as ERT, has been acquired by The Forest Road Company, an investment firm based in Los Angeles, and now includes the Powerhouse Investor Group in its ownership structure. This organization, led by Kiro, is made up of global business leaders, sports innovators, and strategic investors, including prominent individuals like Elba and Tony Ressler. Jeremy Tarica, the Managing Director of The Forest Road Company, expressed confidence in the team’s Formula E journey, highlighting their achievements and partnerships. Elba, Principal Owner of Atlanta Hawks, emphasized Formula E’s blend of sport, entertainment, and sustainability, expressing excitement to be part of the CUPRA KIRO team. Formula E CEO Jeff Dodds praised the new investor group’s expertise and diverse perspective, expecting their involvement to drive growth not just for the team, but for the entire championship.
