A1GP news
New financial package in place
25 September 2009A1 Grand Prix Chairman Tony Teixeira has confirmed that new backing for the championship should help to aid the future of the series for at least the next three or four years. In finalising a deal, the South African hopes to silence reports that the series has been struggling for the necessary financial backing to continue.
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With Season 5 due to kick off in Australia in exactly one month's time, Teixeira wants fans to be sure that the future of the sport is in good hands. "I wanted to announce this re-financing a long time ago but the reason it has taken longer than I planned was the size of the package," he explained.
"I could see no reason to look for a one-year deal - it had to be for at least three to four years until such a time as the series is independent; this way, we can make sure everyone involved in the series has the necessary security and the series is totally creditable."
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A selection of new major partners are also in discussions with the Chairman, who will be meeting the companies over the course of the next days in a bid to put to rest the bad press A1GP has been receiving.
"I have seen all the stories written over the past few weeks, doubting the future of the series," he continued, "and these are not new to me as I have seen them at the start of every one of our four seasons. These are not things I like to read and I feel frustrated that I cannot always come out and explain exactly what we are doing but, as you know, we have always delivered every season."
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