Drivers are excited for the future of the World Rally Championship following what the FIA has labelled the “biggest deal in history” for rallying.

After months of discussions, French automotive company Cosmobilis and private credit investor Park Square Capital have officially acquired WRC Promoter GmbH to take over the commercial rights of the WRC and the European Rally Championship in an undisclosed long-term deal. It is believed the length of the contract is in the region of 25 years.

Former Lotus and McLaren Formula 1 team boss Eric Boullier will become the new CEO of WRC Promoter.

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