Powerboat P1 Management, a London based promoter, has unveiled plans to launch a new powerboating series in the United Arab Emirates (UAE).
'This is a very significant announcement for Powerboat P1 and for the Middle East region as a whole. For the first time we have an investor from the UAE with the conviction to support our vision as it makes sound commercial sense,' said Powerboat P1 chairman Asif Rangoonwala.
'We can now move forward to successfully develop a national level powerboat racing series in this key market where both watersport and motorsport activities are well supported and enjoy such a high profile,' he said.
The UAE joins established series in the UK and the US, which successfully ran the new P1 Panther 28SS race boat in P1’s SuperStock national championships last year.
Powerboat P1 has already engaged a promoter to launch a new Indian SuperStock series in winter 2013, as it continues its programme of international expansion.
'Launching SuperStock in the UAE is a natural progression for Powerboat P1 as everyone in the powerboat racing world knows the importance of the Middle East region,' said chief operating officer Robert Wicks. 'We are attending the Dubai show to enable Powerboat P1 to talk to the marine industry and, of course, to display our race-proven P1 Panther craft.'
Powerboat P1 has secured Dubai-based Onside Sports to find commercial partners for the new SuperStock UAE series with commercial director James Durbin working with Onside Sport’s Jeff O’Brien on the project, said a statement.
Onside Sports is a multi-disciplined group of sports business professionals who have a proven track record in adding strategic and commercial value to rights holders such as Powerboat P1. Its existing partners include the National Olympic Committee of the UAE, UAE Rugby and the Dubai Sports City.
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10:37 PM Sun 22 Apr 2012GMT
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