Inside F1's rival new sport backed by LeBron James, Virat Kohli, Rafael Nadal and Tom Brady
Formula One has a major new rival that is already making waves, having been financially backed by the Saudi Arabian Public Investment Fund and numerous celebrities from around the world, including the likes of Rafael Nadal, Tom Brady and Virat Kohli to name just a few.
The world's first all-electric foiling powerboat championship is well into its second season now and notable figures in sports and entertainment continue to flock to be involved. The series features races in iconic locations around the world and is showing no signs of slowing down.
The last race was held in the glitzy surroundings of Monaco - the most legendary location of them all and we were lucky enough to be invited to witness the magic first-hand and speak to those involved.
Co-founder and CEO Rodi Basso, a former aerospace engineer and F1 engineer, brings a wealth of experience and expertise that helped create the dream of E1 way back in 2020.
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Speaking to SPORTbible, the 53-year-old told us exactly how it all started: “Around June 2020, so we were in full COVID and I had a bit more time when I was living in London at that time and couldn't leave. We were working, you know, pretending to do some jogging with Alejandro Agag, who I met when I was at McLaren and developed the battery for Generation 2. He came with this investment that he had done in the startup called Sibert Technologies, who wished to build an electric boat for commercial use based on foil. And, of course, electric propulsion. So, given my background, Alejandro said: ‘Can you please help us a bit, giving it direction?’ and after 24 hours, I came back to him saying: 'Why don't we build the nautical equivalents of Formula One Electric, where we only go to iconic and amazing places.
“I've been racing for more than 20 years, either as a race engineer or as a technology supplier. And of course, you know, racetracks sometimes are in the middle of nowhere and there are places where there is nothing. But as here (Monaco), we go to Miami, Jeddah, Doha and Italy, I mean, I shouldn't say because I'm Italian but, you know, nice spots of the world and of course, it's not only about being nice spots, but there is a lot about protecting and celebrating these nice spots, because there is a threat. We don't want to generate anxiety, but the environment and the scientists are telling us that we need to do something. We need to work on the future of mobility on water and there was a gap. With Alejandro, we saw a gap in the industry, and we said, 'Okay, that's where we need to be'."
The sport is growing from strength to strength and expanding at a rapid pace, and Rodi confirmed they’re on track to achieve their goal of reaching a valuation of €500 million by 2030.
“We are definitely on track," he added. "I mean, every year [we are] progressing. We started the first year with a break-even, which is a miracle for a starter and now we are already going to the profitable area. So the mechanism works, the business is moving. It’s delivering. And of course, this happens when you generate value. And it looks like we are generating value.”
“I’ll tell you some small numbers that are not economics, but they're not financials; they are more related to the product. Last year, we had 300 guests in Monaco for the race; this year, we have 550 registered. In Jeddah, we had 5,000 people coming, this year 15,000 and 30,000 over two days. So you know, that's the best KPI actually – interest.”
NBA superstar LeBron James is the latest big name to become involved in the sport as a team owner and his presence and influence are predicted to take E1 to a whole new level on and off the water.
When asked about his dream team owner going forward, Basso admitted Dua Lipa would be top of his list and would help bring E1 racing to London, saying: “Yes, that would be amazing 100%. Both options will be amazing because of London being London, an iconic place, international place. London is in the map of the world. It's not only in the map of UK, you know what I mean? All Europe or whatever. It's a fantastic place.”
E1 promotes equality and believes each pilot deserves to be on the same level playing field, which is why each of the nine teams has one male driver and one female driver, with every powerboat having the same available power, so it’s all about the individual’s skills behind the wheel.
Dani Clos, now part of Team Aoki, is one of the most popular and well-known pilots currently in E1 and his career has been an eventful one.
His impressive career spans over multiple disciplines, including karting, Formula 3, GP2 and F1 as a test driver for HRT.
The Spanish pilot brings decades worth of experience to the E1 waters, but admits the transition wasn’t easy, despite him initially joining the sport as a pilot for former F1 driver Sergio Perez’s team.
“Last year was a complete nightmare," he said. Yeah, it was a nightmare in many aspects. I wasn't happy and right now I feel like I'm home with the team, my teammates, everyone in sync and you can see by the results!”
Despite his first season not going to plan, Clos admitted Sergio Perez did influence his decision to join the new start-up, adding: “It was it was funny because when he told me that he had this E1 team and what it was, I thought it could be a nice story that we raced together and then against him in GP2, for example, here in Monaco, we fought for the win, you know, and many years, many years that I’ve known him, I could now race for his team, it was like a good thing to do.”
The 36-year-old also believes E1 has the potential to reach the heights of F1 and have even more races in a season.
“I hope so," he explained. "I would love it too, at the end, the championship is fighting for that. They want more events, more shows, better places to go and we're on the way. This is something that has a lot of future, and we are a part of it and it’s very exciting.”
He didn’t hesitate when asked which current F1 driver he would love to see join E1, saying: “Ah, for sure, Lewis (Hamilton), yeah. Lewis, man. He's in Monaco too, isn't he? Yeah. He can come and say hi!"
The beauty of E1 is that there is such a mix of pilots involved and testament to that is 18-year-old Oban Duncan, who is the youngest pilot known as the 'powerboat Luke Littler' and currently part of Didier Drogba’s team.
Despite her age, the Scottish pilot has more experience and success on the water than most, having started when she was just eight years old and having already won 10 British Powerboat Championships.
Though she still admits it’s been a huge change and transition into E1, describing it as a 'massive change'.
"I think all the pilot racers will tell you it’s a huge change into this from any other boat, it’s so different to anything we’ve driven before," she said.
“It was easier for me knowing boats because there is a little element in there, but it’s a huge change in how you drive and it’s completely backwards in what we’re used to.”
When asked how she has found it working under Didier Drogba, the youngster admitted it’s helped her a lot, saying: “He’s really into it - he’s great. He wants the team to do well. He just wants to know what he can do to help us rather than just be there as a figurehead.”
“We had a tough race last year in Venice and he was like ‘we have ups and downs in football and all sports, but we can climb back up and do better next time’ and we did, so it’s just great for him to completely understand that when we have a good day we have it as a team, and equally when we have a bad day we have it as a team also.”
Oban somehow manages to juggle her on-water commitments with a full-time job as a health and safety consultant and revealed how she is able to concentrate on day-to-day workload alongside her crazy schedule as a racer.
"The last few races have been okay because they’ve been quite close together; it’s the going to work in-between races that can be really difficult, going home to do your daily life and thinking about the next race," she explained.
"It's crazy, though. It's tough, but I love it, and I wouldn't have it any other way, because I like being busy, so it keeps me busy all the time.
“Sometimes it’s like I'll fly back tomorrow and go back to work Monday!”
Despite loving being busy and working a ‘normal’ job, Oban admits she’d like to do racing full-time in the future, revealing: “Yeah, as much as I possibly can. I mean, nobody knows what the sport is going to look like and how many races there will end up being and how many more commitments there might be next year. It’s all very dependent on time.
“At the minute it’s very much live every day as it is and the long-term plan isn’t there yet, I'm just enjoying it while it’s here and we’ll see what comes.
“I can see E1 becoming bigger and having a lot more races, it’s got the potential, it’s going to get there, it’s got all the environmental side of things and E1 are really trying to do their best.”
The next E1 race comes on October 5th when it travels to the city of Lagos in Nigeria, which will be another history-making event for the sport in Africa.
The season then comes to a climax in the iconic city of Miami the following month and that just feels right, doesn’t it?
And with just 21 points separating first to fourth place, these two final races are going to be full of drama and undoubtedly the most intense yet as Team Brady look to take home another title as rivals vie to get their name on the series trophy for the first time.
Mark Whitehead