Premier 1 Racing is in the final stages of signing deals with 24 top clubs ? and is due to announce the first at a special ceremony later this month.
It is also in talks with the EBU to secure terrestrial TV coverage.
The first race is due to take place in July, following the FIFA World Cup in 2002 ? with Italy being pencilled in as hosting the first race.
Three clubs from the top leagues in England, Spain, France, Germany and Italy will lend their support and club colours to the race ? in exchange for a slice of revenues.
They will be joined by one or two clubs from leagues in Holland, Portugal and possibly the Czech Republic.
Speaking to sportbusiness.com
A new crowd-pleasing motor-racing Grand Prix series featuring cars racing in the livery of Europe?s top soccer clubs is aiming to reach one billion viewers in its first season, sportbusiness.com can reveal.
