Jamie Reigle, executive vice-president of business operations at NFL American football franchise the Los Angeles Rams, has today (Monday) been appointed as the new chief executive of electric car-racing series Formula E.
Reigle’s appointment comes after he was first linked to the role in July. Formerly group commercial director at English Premier League football club Manchester United, the Canadian official will begin his new position at Formula E with immediate effect.
He will replace Alejandro Agag as chief executive, with the Spaniard making the move to chairman of Formula E.
Formula E said Reigle (left of picture) was chosen following a rigorous selection process. Agag (right of picture) will work in tandem with Reigle in his new role, retaining relationships with key sponsors, teams and long-standing partners such as the International Automobile Federation (FIA), as well as existing host cities. Reigle will oversee the overall management of the company, day-to-day operations and the delivery of plans for growth on a global scale.
The appointment comes after it was reported last week that Formula E will exceed revenues of €200m ($219.4m) when it lodges its accounts for the 2018-19 period and will report a profit for the first time since its launch in 2014. Sponsorship, which accounts for close to half of all revenues, enjoyed a 25-per-cent year-on-year increase given new deals signed during the 2018-19 period with Bosch, Heineken, Moët & Chandon and Saudi Arabian Airlines.
Reigle said: “I’m delighted and honoured to be charged with leading Formula E through its next phase of development. I’ve followed the championship from inception and admired the global sports platform Alejandro and his team have created in short order.
“I’m eager to plug in and work with Alejandro to continue to develop Formula E as the most exciting series in motorsport and a platform for the potential of the future of electric vehicles and sustainable mobility.”
Agag added: “Jamie’s wealth of experience working in sports properties across North America, Europe and Asia make him the best person for the job.
“With his addition to our existing executive team, we have an incredibly strong line-up to continue building and developing Formula E through our next growth cycle. I’ll be making the transition to chairman and will work in tandem with Jamie to ensure that our vision and plans for the ABB FIA Formula E Championship are fulfilled.”