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The FIA has confirmed that the World Rally Championship (WRC) promoter has been acquired by Cosmobilis and Park Square Capital. The new owner will also take over the commercial rights for both the World and European Rally Championships. While both parties described the deal as "long-term" without specifying, it is understood to be a 25-year agreement.
In its statement, the FIA hailed the agreement as "the largest commercial deal in the history of the World Rally Championship and the European Rally Championship." However, no further details regarding the contract's duration were provided.
The announcement came at a rather unusual time – during the final stage of Friday's Rally Finland, the Harju super special.
Experienced motorsport manager Eric Boullier, best known for his career in Formula 1, has been appointed as the new CEO of the WRC promoter.
"This is good. I've known him for a long time from Formula 1, and other places too," commented Toyota Deputy Team Principal Juha Kankkunen. "Now he needs to roll up his sleeves and get to work. The first priority is to sort out the calendars and the new regulations."
"In that sense, the timing is good because someone needs to start doing the work now. In reality, we're already a bit late. These things should have been resolved much earlier," he added.
Although Kankkunen learned about the news from journalists, he admitted it wasn't a complete surprise.
"We were sitting opposite each other at the mayor's dinner, and I already had a feeling something like this might happen because he was asking me a lot of different questions. He's a smart guy and very easy to talk to," Kankkunen recalled.
When asked if he considered the appointment a positive development, his answer was unequivocal.
"Of course, it is. If we don't want this sport to disappear, then something has to be done," Kankkunen stated.
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