Idris Elba joins expanded investment group as Kiro race co accelerates Formula E ambitions

Kiro Race Co has confirmed a major expansion of its ownership group, with actor, producer and musician Idris Elba joining a high-profile consortium of investors backing the CUPRA KIRO Formula E team.

Elba joins lead investors David Kaplan and Bennett Rosenthal in a powerhouse group that spans global sport, media, finance and entertainment. The move follows the acquisition of Kiro Race Co by The Forest Road Company in October 2024 and underlines growing confidence in the commercial and sporting trajectory of the ABB FIA Formula E World Championship.

The wider investor line-up includes Atlanta Hawks principal owner Tony Ressler, LAFC co-managing owner Larry Berg, and entrepreneur Shaun Neff, alongside senior media and finance figures Navid Mahmoodzadegan, Steve Bornstein and Rick Hess. Strategic advisors include Jeffrey Assaf, Caleb Kramer and Michael Woronoff.

Together, the group brings deep expertise across elite sport, entertainment, global media rights and institutional investment – signalling a new phase in KIRO’s evolution from a start-up Formula E outfit into a long-term global sports franchise.

The announcement follows a series of rapid milestones for the team. KIRO formally entered Formula E with the launch of a multi-year co-title partnership with Spanish performance brand CUPRA, scored points on its competitive debut at the São Paulo E-Prix, and unveiled a bold new joint CUPRA KIRO livery at the Mexico City E-Prix earlier this season.

Jeremy Tarica, managing director at The Forest Road Company, said the latest investment round reflected belief in both Formula E and the team’s wider vision. “Since starting our Formula E journey, Kiro Race Co has hit several key milestones – from securing a multi-year co-title partnership with CUPRA to a top-10 finish on debut,” he said. “Today’s announcement marks the next step, with an investor group that brings business acumen, cultural influence and entrepreneurial drive. Together, we’re positioned to accelerate KIRO’s success on and off the track.”

For Elba, who has become an increasingly visible presence around the Formula E paddock, the championship’s blend of sport, sustainability and entertainment was a decisive factor. “Formula E sits at the perfect intersection of motorsport, global entertainment and sustainability,” he said. “I’m proud to be joining the grid with CUPRA KIRO at such a pivotal moment. The team’s desire to innovate and its commitment to excellence really resonate with me, and I’m excited to play my part in its journey towards the front of the grid.”

Kaplan, lead investor and team managing partner, believes the timing is right to build a global brand around the team. “Motorsport is one of the fastest-growing sports in the world, and Formula E was built with a future-focused mindset rooted in innovation and entertainment,” he said. “This next phase allows us to strengthen our competitive edge while tapping into Formula E’s unmatchable, fan-focused race experience.”

Rosenthal echoed that sentiment, describing the capital raise as transformative. “The sports landscape is evolving rapidly, and with this investment KIRO has positioned itself at the forefront of that change,” he said. “Our ambition is clear: to turn KIRO into a truly global sports franchise.”

Formula E chief executive Jeff Dodds said the expanded ownership group was a strong endorsement of the championship itself. “This is a transformative moment for Kiro Race Co and a powerful validation of its strategic growth plan,” he said. “The expertise and diversity of this group will help drive growth not just for the team, but for the entire Formula E ecosystem.”