Jaguar Land Rover invests $40m into Jaguar Racing  

Jaguar Land Rover has pumped $40m (€34.6m) into its Jaguar Racing Formula E Championship racing team, according to Jaguar Racing Limited’s company accounts.

The Tata-owned car group’s UK-based subsidiary received $11.1m in a loan from Jaguar Land Rover, while a further $28.9m is repayable on demand.

According to an article on the Forbes business website, Jaguar Racing Formula E team launched in 2016 with funding in the form of a loan and sponsorship from Jaguar Land Rover.

The Jaguar luxury car brand logo is prominent on the side of the car and the spoiler.

A spokesperson for Jaguar Racing told Forbes: “Jaguar has a long-term commitment to Formula E which has now attracted major OEMs [original equipment manufacturers] including Audi, BMW, Mercedes, Mahindra, Nissan and Porsche.

“This commitment has been strengthened by the introduction of the Jaguar I-PACE eTROPHY series which debuted in December – the world’s first international championship for production-based electric cars.”

The accounts also revealed that team revenue amounted to $12.2m during the financial year.

Read this: ABB adds to fast-growing Formula E revenues

Most recent

Wolverhampton Wanderers has secured a significant increase in the value of its front-of-shirt rights, after striking a new deal with Asian-facing gambling platform ManBetX.

PepsiCo's Gatorade sports drink brand will pay a fee in the low hundred thousands of euros to sponsor LaLiga in four Central American countries, according to industry sources

Brazil’s club football sponsorship market is in freefall following the loss of state-owned bank Caixa Econômica Federal – the biggest spender of the last decade.

Alibaba chief executive Jack Ma and Uefa president Aleksander Čeferin were the main movers behind the eight-year deal between Uefa and electronic payments brand Alipay, SportBusiness Sponsorship has learned.