Formula 1 Launches Virtual Grand Prix Series

Formula 1® has today announced the launch of a new F1 Esports Virtual Grand Prix series, featuring a number of current F1 drivers. The series has been created to enable fans to continue watching Formula 1 races virtually, despite the ongoing COVID-19 situation that has affected this season’s opening race calendar.

The virtual races will run in place of every postponed Grand Prix, starting this weekend with the Virtual Bahrain Grand Prix on Sunday March 22. Every subsequent race weekend will see the postponed real-world Formula 1 race replaced with a Virtual Grand Prix*, with the initiative currently scheduled to run until May**.

The first race of the series will see current F1 drivers line up on the grid alongside a host of stars to be announced in due course. In order to guarantee the participants safety at this time, each driver will join the race remotely, with a host broadcast live from the Gfinity Esports Arena (or remotely if required) from 8:00pm (GMT) on Sunday March 22.

The series will use the official F1 2019 PC video game, developed by Codemasters, and the first virtual GP on the Sakhir track will be a 50% length race with 28 laps. The broadcast, which will be available on the official Formula 1 YouTube, Twitch and Facebook channels, is expected to run for 1 hour 30 minutes, with a qualifying period where grid positions will be determined based on the drivers’ fastest lap time.

Due to the wide variety of gaming skill levels amongst the drivers, game settings will be configured in such a way to encourage competitive and entertaining racing. This includes running equal car performance with fixed setups, reduced vehicle damage, and optional anti-lock brakes and traction control for those less familiar with the game.

The series is strictly for entertainment purposes, to bring racing action to fans in this unprecedented scenario the world has been affected by, with no official World Championship points up for grabs for the drivers.

During non-race weekends, Formula 1 will also be hosting online exhibition races, where fans from around the world will be given the chance to go head-to-head with F1 drivers. More details of these events will be available across the official Formula 1 social media channels in the coming weeks.

Julian Tan, Head of Digital Business Initiatives and Esports said: “We are very pleased to be able to bring some light relief in the form of the F1 Esports Virtual GP, in these unpredictable times, as we hope to entertain fans missing the regular sporting action. With every major sports league in the world unable to compete, it is a great time to highlight the benefits of esports and the incredible skill that’s on show.”

Frank Sagnier, Chief Executive Officer, Codemasters added: “We’re excited to be a part of the new F1 Esports Virtual Grand Prix Series. With sporting events currently on hold around the world, it’s great that the official F1® video game can help fill the void by bringing together an exciting line-up of talent to race online during the postponed race weekends. It’s going to be competitive, action-packed, and a lot of fun for everyone involved.”

John Clarke, Gfinity Chief Executive Officer said: “Gfinity is proud to be playing its part in the design and delivery of the F1 Esports Virtual Grand Prix series, which will bring exciting virtual racing to a legion of Formula 1 and Esports fans around the globe. The virtual Bahrain GP will feature all the thrills and spills of racing with F1 drivers and special guest celebrities going head-to-head, which promises to put a smile back on the faces of millions of sports fans.”

Travel Experts ATPI Answer FAQs Regarding Coronavirus

iSportconnect partner ATPI have shared a number of need to know answers for questions many are currently having about their travel.

ATPI specialises in providing travel management services and, within the sports industry, work with many athletes, sports teams and fans ensuring they are able to have seamless travel. They have in-depth knowledge of the logistics of sporting events such as the Olympic Games, the Commonwealth Games and the Volvo Ocean Race.

ATPI understand that staying informed and being proactive is what really matters in the face of the uncertainty presented by Coronavirus (COVID-19) and so we remain committed to empowering sports clubs, associations and governing bodies to fortify their safety and security processes and make the right decision for their organisation and their travellers.

See ATPI’s Coronavirus FAQ document for guidance on where to find the most up-to-date information regarding the spread of the virus, ATPI’s approach to the Coronavirus outbreak and what steps you can take if you are worried about upcoming travel plans.

For full information, follow this link – https://www.atpi.com/en/en_GB/about/coronavirus-covid-19-and-your-organisations-travel/

 

COMING SOON: iSportconnect eMasterclasses

iSportconnect will soon be announcing a series of eMasterclasses to be taking place over the next few weeks as we look to keep our members engaged and informed during the coronavirus period.

As stated yesterday, iSportconnect began as an online platform for those within the sports industry and we are committed to keeping our community engaged during this testing time.

Keep your eyes peeled on our website and social media channels as we’ll be revealing the key details in the coming days…

We look forward to (virtually) seeing you soon!

English Professional Football Suspended Further Until April 30th

The FA, Premier League, EFL and women’s professional game, together with the PFA and LMA, understand we are in unprecedented times and our thoughts are with everyone affected by COVID-19.

We are united in our commitment to finding ways of resuming the 2019/20 football season and ensuring all domestic and European club league and cup matches are played as soon as it is safe and possible to do so.

We have collectively supported UEFA in postponing EURO 2020 to create space in the calendar to ensure domestic and European club league and cup matches have an increased opportunity to be played and, in doing so, maintain the integrity of each competition.

The FA’s Rules and Regulations state that “the season shall terminate not later than the 1 June” and “each competition shall, within the limit laid down by The FA, determine the length of its own playing season”.

However, The FA’s Board has agreed for this limit to be extended indefinitely for the 2019/20 season in relation to Professional Football.

Additionally, we have collectively agreed that the professional game in England will be further postponed until no earlier than 30 April.

The progress of COVID-19 remains unclear and we can reassure everyone the health and welfare of players, staff and supporters are our priority. We will continue to follow Government advice and work collaboratively to keep the situation under review and explore all options available to find ways of resuming the season when the conditions allow.

We would all like to re-emphasise that our thoughts are with everyone affected by COVID-19.

BMW Set To Beat Out Opel For Feyernoord Partnership

Algemeen Dagblad, the Dutch newspaper, has said that Eredivisie club Feyernoord will be switching one of their major sponsorships next season.

The newspaper states that the club, one of Holland’s biggest, is set to move their car sponsorship to BMW from Opel from next season.

They have reported that BMW will be paying €4 million per season ($4.27 million), to take the exclusive rights, and will end Opel’s ten-year association with the club.

 

Coca Cola Reportedly Interested In Coppa Italia Title Sponsorship

Coca Cola are reportedly interested in becoming title sponsors of the Coppa Italia.

The American drinks company are supposedly in talks to take the sponsorship if this season’s competition goes ahead, according to SportBusiness.

This follow’s Coca-Cola’s sponsorship of the 2020 Italian Supercoppa, where the Super Cup saw huge viewing figures in the country when it was played in Saudi Arabia, including having the competition rebranded as the Coca-Cola Super Cup.

 

LaLiga To Take Part In UEFA Reduced Committee On European Football Calendar

LaLiga, through its President, Javier Tebas, will participate together with the Premier League in a reduced commission created by UEFA to remake the calendar for all European professional football.

This committee is made up of three members from UEFA, three from ECA and one from European Leagues, LaLiga and Premier League respectively.

NASCAR, iRacing Introduce eNASCAR iRacing Pro Invitational Series

NASCAR and iRacing announced today the formation of the eNASCAR iRacing Pro Invitational Series, an exhibition esports series featuring many of the sports most talented and popular drivers. The simulation-style showcase will include a cross-section of competitors from the NASCAR Cup Series, NASCAR Xfinity Series, NASCAR Gander RV & Outdoors Truck Series and a group of NASCAR dignitaries.

The multi-week series will kick off Sunday, March 22 at 1:30 p.m. ET on the virtual Homestead-Miami Speedway. The remaining race and broadcast details will be announced at a later date.

“Until we have cars back on track, the entire NASCAR community has aligned to provide our passionate fans with a unique, fun and competitive experience on race day,” said Ben Kennedy, vice president, racing development, NASCAR. “Our long-time partners at iRacing offer an incredible product and we are excited to see how many of our best drivers will stack up in the virtual domain of competitive racing.”

NASCAR postponed events through May 3, prioritizing the health and safety of fans, the industry and race communities. The eNASCAR iRacing Pro Invitational Series will provide much needed racing entertainment for sports fans on the premier motorsports racing simulation platform, often used by NASCAR drivers to prepare for race events.

The exhibition series will feature some of the best NASCAR drivers. Drivers currently expected to participate include:

– Dale Earnhardt Jr.
– Kyle Busch
– Denny Hamlin
– Clint Bowyer
– Kyle Larson
– Christopher Bell

NASCAR and iRacing have an unprecedented history in the esports space, currently in the 11th season of the longest-running officially sanctioned esports racing series, the eNASCAR Coca-Cola iRacing Series. The eNASCAR Coca-Cola iRacing Series features 40 of the best sim racers in the world competing for more than $300,000, one of the richest payouts in esports racing competition. The elite series features NASCAR and professional esports teams, including those established by NASCAR Cup Series drivers William Byron, Denny Hamlin and Austin Dillon.

Fox Corporation To Acquire Tubi

Fox Corporation today announced that it has entered into a definitive agreement to acquire Tubi, a leader in the fast-growing free ad-supported streaming category, for approximately $440 million in net cash consideration at closing. The acquisition of Tubi underscores FOX’s long-term strategic initiatives to broaden and enhance FOX’s direct-to-consumer digital reach and engagement.

Tubi brings to FOX an expanded consumer offering with a sizable, younger-skewing and directly connected user base that spends over 160 million hours per month watching content on the service.

Tubi, which is currently available on more than 25 digital platforms in the United States, features over 20,000 titles and 56,000 hours of film and episodic television programming from over 250 content partners, including many of the major studios. The combination of Tubi’s reach, the resonance of its content and the quality of its technology platform have doubled the service’s usage and monetization over the last 12 months.

Tubi will also seamlessly integrate with and deepen FOX’s capabilities in key areas such as digital advertising, direct-to-consumer interfaces and personalization technology.  Similarly, Tubi will be able to fully leverage FOX’s advertising and distribution relationships, as well as its formidable national and local promotional platforms, to further augment the service’s growth trajectory.

FOX plans to continue to run Tubi as an independent service anchored by its robust consumer offering of licensed entertainment content. FOX will evaluate opportunities to expand the Tubi offering not through original content, but rather in a cost-effective manner by leveraging our expertise in national and local news and sports programming.

Executive Chairman and Chief Executive Officer of Fox Corporation, Lachlan Murdoch commented: “Tubi will immediately expand our direct-to-consumer audience and capabilities and will provide our advertising partners with more opportunities to reach audiences at scale.  Importantly, coupled with the combined power of FOX’s existing networks, Tubi provides a substantial base from which we will drive long-term growth in the direct-to-consumer arena.”

Tubi Founder and CEO Farhad Massoudi, who will continue to head Tubi, added: “Fox Corporation’s relationships with advertisers and distribution partners, combined with the company’s dominance in news and sports programming, will help Tubi continue to grow and differentiate itself in the high-growth ad-supported streaming marketplace.  I am proud of what the team has already accomplished here at Tubi and we couldn’t be more excited about joining such a fast-moving, entrepreneurial company.  We look forward to working together with FOX to accelerate Tubi’s leadership position in the market and bring new competencies to FOX.”

FOX will finance the Tubi acquisition principally with the net proceeds from the completed sale of its stake in Roku, Inc. (“Roku”).  In doing so, FOX preserves its balance sheet capacity by essentially exchanging a passively held minority investment for full ownership and control of a leadership position in the free ad-supported streaming market.

On the sale of FOX’s ownership stake in Roku, Murdoch added: “We were an early investor in Roku and continue to admire the ongoing accomplishments of Anthony Wood and his team.  We are pleased to expand our partnership with them as a result of the Tubi acquisition.”

The Tubi transaction, which is subject to regulatory approvals and the satisfaction or waiver of customary closing conditions, is expected to close before June 30, 2020.

Wanda Sports Agree $240 Million Loan With Credit Suisse

Wanda Sports Group Company Limited today announced that the Company signed a $240 million senior term loan facility agreement with Credit Suisse AG, Singapore Branch, enabling the Company to refinance and prepay its existing senior 364-day term loan facility, dated March 15, 2019.

Mr. Hengming Yang, President and CEO of Wanda Sports Group said, “We are very pleased with the new credit facility. The successful refinancing demonstrates continued confidence in our business and operations, despite the global challenges and uncertainties resulting from COVID-19. We will continue to work diligently on behalf of our partners, athletes, fans and shareholders.”

Mr. Brian Liao, Global CFO of Wanda Sports Group said, “As always, we are committed to lowering our costs, monitoring our use of cash, and balancing our investments with disciplined management of our existing financial resources to optimize shareholder returns. The new facility provides the Company with additional financial flexibility, while allowing it to take advantage of the current favorable interest rate environment to lower interest costs.”

The term of the new facility is 364 days. The pricing will initially be LIBOR plus an applicable margin, and the term is subject to certain mandatory prepayment terms. These and the other principal terms of the new facility are outlined further in a Form 6-K (Report of Foreign Private Issuer) submitted today to the U.S. Securities and Exchange Commission.