Formula E Fate Makes the Turn With Media and Sponsor Deals
Formula E is taking its current form to Miami for its only U.S. stop in 2025, but the electric championship racing circuit is charging up for the more high-horsepower sprint ahead.
A decade after it was first introduced and almost five years since world governing body Fédération Internationale de l’Automobile (FIA) declared it a World Championship—the same status held by Formula 1—Formula E returns to Miami for only the second time with a few new friends along for the ride. Last summer, Liberty Global—which spun off from Formula 1 owner Liberty Media in 2005—purchased a 65% stake in Formula E from Warner Bros. Discovery.
To meet its growing ambitions, Formula E put Ellie Norman behind the wheel of its marketing in September as its new CMO. Norman served as Formula 1’s CMO for five years immediately after Liberty Media completed its $301 million purchase of the circuit in 2017. She later became chief communications officer for the Premier League’s Manchester United.
“What’s really struck me about the championship is just how much opportunity there is,” Norman said. “What’s been really incredible through the initial 10 years of the championship is this kind of clarity of focus around Formula E as the test bed to drive forward EV mobility… [to]be able to use it as a technology test bed to go from race track to road.”
Formula 1 is now valued at more than $18.2 billion, with revenue of more than $3.65 billion in 2024. While Formula E finished shy of that mark at $284.11 million in revenue last year, Norman and her team are finding ways to close ground on Formula 1’s 65-year head start.
In its earliest days, Formula E drew scrutiny for taking financial losses each year. While Formula E’s last financial filing, issued in July for the 2023 season, shows a $54.8 million loss, that’s down 36% from the nearly $84 million hit the championship took a year earlier
