A1GP backers insist future bright
Trying to head off Bernie Ecclestone's threat to kill his series off, RAB Capital chief executive Phillip Richards has insisted that A1GP does not need to worry about what other racing series are doing, and should instead focus on continuing to provide its own strong product.
RAB Capital, the London-based investment management company, became the majority shareholder of A1GP in December 2006.
Richards was speaking to guests of the A1GP World Cup of Motorsport gala awards at the Royal Courts of Justice in London.
He told the audience: “What I really wanted to say tonight is that this series is here to stay. Everyone needs to know that. Our future sponsors, team owners, drivers and especially our fans. For next season, the season after that and the season after that and so on.
“We are committed to making this a success, and it is only through people knowing that we are here to stay that we are going to get the sponsors and the long-term commitment to make that reality.
“I’ve been involved in building businesses before, and it seems to me that you never build a business by worrying too much about what the competition does. We all know that Formula One has a nice show on television, but we don’t have to worry so much about that.
“What we need to worry about is our own fanbase, our supporters and those national fans and providing we go on providing excellence, excitement and good execution then the fanbase will continue to grow. There will be more and more national sponsors will come through, and we’ll have a successful series.
“At RAB Capital we are used to winning, this year we won the best hedge fund company in London, and we want to be the shareholder of a winning series. We think it will be.”