The FIA expects to announce the new World Rally Championship commercial rights holder within the next “couple of months” with an agreement “very close”, according to FIA deputy president Malcolm Wilson.
The future promotion of the WRC has been a hot topic after it was first reported that the previous commercial rights holder WRC Promoter, owned energy drinks giant Red Bull and German investment company KW25 were gearing up for a sale in 2024. WRC Promoter GmbH acquired the commercial rights to the WRC in 2013.
The FIA revealed in August last year that it would facilitate a tender process to find a new commercial rights holder. Autosport understands that the acquisition of the WRC’s commercial rights initially attracted potential suitors from Europe, America and the Middle East. The tender process has now reached a point where due diligence proceedings are being completed with a suitor that is understood to be European-based.
FIA president Mohammed Ben Sulayem had previously confirmed that an all-new commercial rights contract would be drawn up between the FIA and the new promoter, and could extend to 25 years, while funds generated by the sale of the WRC’s commercial rights for the FIA would be directly invested back into the championship.
Speaking in a media roundtable at the WRC season opener in Monte Carlo, Wilson said that a potential suitor with a long-term vision for the WRC had been identified.
“We are very close and we certainly expect to have some form of confirmation within the next couple of months. It has been a really long process and, as you know, I have bought and sold quite a lot of companies over the years, but this has definitely been a massive challenge,” said Wilson.
“At the end of the day, I think everybody knows it is in my interest that I want to get the right promoter for the future of the sport and a lot of due diligence, and everything has been done with the potential people.
Malcolm Wilson, Team Principal of Ford M-Sport
Photo by: DPPI
“But the important thing from me was I wanted to have somebody that has the vision and the longevity. A lot of people that were looking [into it] were investment houses and they were looking – as they do – [at] a five or seven years’ exit, which is obviously good for them, and that is what they are looking to do. But the important thing for me is we have somebody with a long-term vision and a long-term commitment to WRC to drive the sport back to where I believe it needs to be.
“It has taken longer than I set myself the target, but hopefully I think we are pretty close, and certainly from all the meetings I have had from potential people I’m very confident l’m on the right track. Until it is over the line, I have too much life experience thinking that the deal is done and then it is not. All I can say is l’m very happy and I’m comfortable, but I want to get it over the line which I think it is very close.
“I am pushing like you have no idea, as it is so crucial for our sport moving forward.”
Wilson also revealed that one of the key criteria for the FIA is to ensure that it and the new WRC commercial rights holder can forge a close working relationship to help grow the WRC.
“One of the discussions we have been having with the promoter, and it is absolutely crucial, is that we work close together,” added Wilson.
“One of the things I have specified is we need the promoter to be very close to Geneva or even be based in the FIA certainly in the short-term future, because we have to work together to grow the sport. They will have ideas, and we need some fresh eyes, and we have to be open-minded.”
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– The Autosport.com Team
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