IDRIS ELBA has invested in a brand new Formula E team – and has revealed the “deep and personal” reason for the decision.
The Hollywood star, 52, is part of a star-studded group to get involved in KIRO CUPRA.
Kiro Race Co are hoping to take the Formula E world by storm[/caption]
Elba believes Formula E combines sport, entertainment and sustainability – something close to his heart.
And the sport’s CEO, Jeff Dodds, also believes the new investment group can help grow the sport on a global scale.
Announcing the news, a statement read: “Kiro Race Co (“KIRO”), the newest team competing in the FIA Formula E World Championship as CUPRA KIRO, is thrilled to announce expanded ownership with a group of highly strategic investors as the fully-electric motorsport series’ 2024/25 season continues.
“Joining lead investors David Kaplan and Bennett Rosenthal, the powerhouse investment group now includes: Golden Globe-winning actor and producer Idris Elba; major league sports team owners Tony Ressler, Larry Berg and Shaun Neff; media deal-makers Navid Mahmoodzagedan, Steve Bornstein and Rick Hess; and strategic advisors Jeffrey Assaf, Caleb Kramer and Michael Woronoff.
“This investment underscores the shared belief in Formula E’s immense potential and growing commercial appeal, following the acquisition of Kiro Race Co by The Forest Road Company, a Los Angeles-based investment firm, in October 2024.
“With unparalleled expertise across the business, media, sports, and entertainment sectors, the diverse investor group signifies the start of a compelling new era for KIRO and will be pivotal in the strategic positioning of the team’s long-term growth as a sports franchise.”
Elba revealed the team’s vision “resonated with me on a deep, personal level” as he explained his latest investment.
The Wire star said: “Formula E is at the perfect intersection by blending sport and global entertainment with sustainability.
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“I’m proud to be joining the grid with CUPRA KIRO at this pivotal moment.
“The team’s vision for the future, desire to innovate, and commitment to excellence resonate with me on a deep, personal level, and I’m looking forward to playing my part in its journey to the front of the grid.”
Formula E CEO, Dodds, revealed his excitement and called it a “transformative moment” which could “catalyse growth for the entire championship”.
Dodds said: “The arrival of this new investor group marks a transformative moment for Kiro Race Co and serves as a resounding endorsement of its strategic growth plan.
“This impressive group brings unparalleled expertise and a diverse, well-rounded perspective that will catalyse growth not just for the team, but for the entire championship.”
But this is not Elba’s first foray into motorsport.
In 2022, the Luther actor – who also performs as a rapper, singer and DJ – launched the Idris Elba Speed Academy, an initiative launched to nurture future racing talent from communities underrepresented in the world of motorsport.
A year later, SunSport revealed ex-Formula One engineer Rob Smedley was also hoping to change the future of motorsport – with a little bit of help from Elba.
