Formula E CEO Alejandro Agag Makes Bid For Full Ownership

Agag is loaded with money

Formula E Founder & CEO Alejandro Agag has made a $716M bid to take "full ownership of the company."

A spokesperson for the racing series said that Agag "had written to the chairman of the board of directors setting out his plans." Formula E shareholders "include John Malone's Liberty Global and Discovery Communications."

Agag in his letter wrote, "I strongly believe in the future of Formula E and this offer is an expression of that confidence" REUTERS,