FIA renews contract with Formula 3 promoter

The Federation Internationale de l'Automobile (FIA), the global governing body for motor racing, has extended its contract with Formel 3 Vermarktungs GmbH, the promoters of the FIA Formula 3 European Championship.

The new deal marks the first renewal of the agreement between the two parties, with the FIA having contracted the German company to promote the series in 2013.

An FIA statement said the new deal would 'result in securing the championship`s stability as well as predictability and strong perspectives for all its stakeholders on a long term basis'.

"The signing of this promotional agreement with Formel 3 Vermarktungs GmbH is another step to move things forward for the FIA Formula 3 European Championship," said FIA president Jean Todt.

“It is essential that the FIA is able to rely on strong commercial partners in order to guarantee the operation of its series on a long term basis. Since 2013, Formel 3 Vermarktungs GmbH has provided a robust commercial platform which helped the renewal of Formula 3 as a category. It was an important contribution to the rebuilding of the single-seater ladder that is one of the goals of the FIA."

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