Cosmobilis Aims for Impact with WRC Commercial Rights Acquisition
Cosmobilis is in negotiations to acquire commercial rights for the World Rally Championship. The rights are currently held by Red Bull and KW25. Eric Boullier leads Cosmobilis' bid. A potential deal might be announced in summer, pending successful negotiations and financing.
French automotive group Cosmobilis is negotiating to acquire the commercial rights to the World Rally Championship (WRC), sources reveal. This development follows an auction conducted by current rights holders, Red Bull and German investment firm KW25, earlier in the year.
If the negotiations, led by Eric Boullier, CEO of Cosmobilis' Circle unit, conclude successfully, the deal could be announced in the summer, insiders suggest. However, no agreement is guaranteed. The anticipated price is under 500 million euros, though specific numbers remain undisclosed.
The International Automobile Federation (FIA) is close to finalizing a new commercial rights holder for the WRC, aiming to enhance the sport's global appeal. The WRC spans four continents with 14 rounds and is currently championed by Sebastien Ogier of France.
(With inputs from agencies.)
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