Celtics managing partner Wyc Grousbeck and a dozen of his co-owners in the NBA franchise have invested $21 million into Formula E, an all-electric circuit that has attracted celebrities with environmental interests such as actor Leonardo DiCaprio and billionaire Richard Branson. The series is scheduled to debut in Beijing in September and continue on the streets from Miami to Monaco in a 10-race, Formula One-style championship.
"We aim to help make Formula E a worldwide sensation," Grousbeck said.
Racing aficionados have long been drawn to the power of Formula One, but its detractors complain that the technology and money spent to develop it, makes driving skill an afterthought, with a lack of passing that can turn an F1 race into a parade. Formula E founders are hoping their circuit will be attractive to younger fans who are enthusiastic about the environmentally friendly mission.