TTXGP Innovates “Race To Own”
TTXGP is developing a system that rewards teams that race in the eGrandPrix series the opportunity to develop ownership stakes in the series.
"TTXGP has always been looking at ways to drive eGrandPrix to deliver on the promise that it holds for our industry," according to company spokesman. "Over the winter months, we have been exploring options which will determine what the next decade of eGrandPrix might look like–a roadmap for the future which binds TTXGP’s stakeholders together to create the greatest motorsport championship series ever."
"To achieve this, we’ve created The TEO (Trust.eGrandPrix.Org) Partnership which will be open to all those who compete in TTXGP."
The TEO Partnership will have its own board, with members elected by the he participating teams and the only way to become part of it is to race in the TTXGP Championships. Teams will be rewarded for racing with TTXGP, with a stake in its future. The more a team races, the higher the stake it will receive.
Reward multiplications will be given for racing in 2010 and committing to TTXGP exclusively, according to the organization, but if a team stops racing, it leaves the earnings pool.
"This is the first time, anything as radical or comprehensive has been proposed in motorsport," the organization claims. TEO pays tribute to the founding principles of modern motorsport whilst being sensitive to commercial realities."
"We are committed to making TTXGP a lasting and a self-sustaining organization. We believe that TEO provides a credible and inclusive roadmap that gives the best way of delivering on the promise to build a multi-billion dollar franchise, owned by those who are in it."