Tuesday 24 April 2018

Motor Sport Business Forum to meet in Bahrain

Manama, January 14, 2008

The Motor Sport Business Forum, one of the most important events of the year in a multi-billion dollar international sport, has chosen Bahrain as its Middle East home for the next five years.

On January 16, 2008, the team behind the first Motor Sport Business Forum Middle East will come together to discuss the opportunities the forum will be bringing to the region.

The first two-day conference of its kind in the Gulf is scheduled to take place on April 1 and 2, 2008, immediately prior to this year’s Gulf Air Bahrain Formula One Grand Prix on April 4, 5 and 6.

The Motor Sport Business Forum was established in Monaco by Simon Berger more than three years ago, and has gained a reputation as being the most important business event within the entire motor sport industry.

Luminaries, sponsors and decision makers within the sport come not only from the world of Formula One but other major international series such as the FIA World Rally Championship, NASCAR and GP2 to bring forward ideas and opportunities in a convivial and professional environment.

The decision to bring the Forum to the Middle East came about during last year’s Bahrain Grand Prix, when it was clear to see the growing impact and importance that motor sport was having on the GCC region not only with the growing fan base but the financial investments which the region has committed to.

Not only is Bahrain host to the first and only round of the FIA Formula One World Championship in the Gulf but it also holds a 30 per cent investment in the Mercedes McLaren Formula One Team.

In 2009 Abu Dhabi will follow Bahrain’s example by joining the F1 fraternity with a second Middle Eastern round of the FIA Formula One World Championship and also has a five per cent stake in Ferrari, which prompted its further investment in a Ferrari Theme Park.

Motor sport is thriving in the Middle East, where investment is being made across many nations. Dubai is building the world’s only Formula One Theme Park next to the Dubai Autodrome circuit; Qatar’s Losail Circuit holds the opening round of the premier motorcycling world championship, Moto GP; Saudi Arabia has witnessed the construction of a new international-standard venue in Riyadh and the Jeddah Raceway drag strip while the Jordan Rally is to be included on the FIA World Rally Championship calendar for the first time in 2008.

Professional motor sport has blossomed in the region from a relatively humble grass roots sport incorporating drag racing and rallying to the point where the Middle East is a major stakeholder at the highest levels of the international industry.

Formula One has a contract with Bahrain well into the next decade and Abu Dhabi shares a similar deal, while other major events such as the Jordan Rally and Bahrain’s Desert 400 for the V8 Supercars Championship Australia series also enjoy long-term prospects on the region’s sporting and social calendar.

“The GCC is an incredibly influential financial hub in the world. It has realised huge potential in investing in motor sport as the industry offers numerous amounts of platforms from a financial level and also a promotional level,” said chairman of BIC Talal Al Zain,

The Motor Sport Business Forum Middle East will provide an exclusive opportunity for members of the motor sport industry and key business delegates from across the region and internationally to meet and target areas of business.

The forum prides itself on producing a conference programme of high esteem. Speakers include Chairmen and CEOs, team principals and governing body officials from company’s with an invested interest explaining the global benefits of motor sport.

It is a Forum that opens the door to the elusive world of Formula One as well giving access to the elite from every area of motor sport. – TradeArabia News Service

Tags: Formula One | BIC | Business Forum |

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