A1GP bleeding cash profusely

We are hearing that the A1 Grand Prix series is bleeding cash profusely. With little in the way of revenue from sponsors or ticket sales, the series is spending a lot of money buying TV air time, new cars and flying the cars, equipment and personnel around the globe.

Doesn't Shaikh Maktoum (pictured right in right photo) have a bottomless pit of money? Well his family does but we are told he has little. If you look closely you will see that the A1GP management team is made up of some key players from South Africa, including South African businessman Tony Teixeira and General Manager Stephan Watson. AutoRacing1.com has learned that the money for the series is coming from South African investors whom Maktoum has convinced would be investing in something that would rival F1 in a few years. They were seriously mistaken because you are not going to make a low HP development series car into a top-line race series.

We have to give 20-something year old Maktoum credit though, he has been able to convince others to spend their money on his idea, but we suspect if the series doesn't start to turn a profit in a year or two, the investors will turn off the money supply. This may account for the overinflated race attendance figures that have been put out in the hope of convincing everyone the series is destined to be a huge success. The jury is definitely still out on that one.

The recently announced Durban, South Africa race has come about because of the series' South African connections.