Boston Celtics owners provide financial jolt to Formula E

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The all-electric FIA Formula E Championship has received a $21 million investment from Boston Celtics managing partner Wyc Grousbeck (pictured, left) and a dozen of his co-owners in the legendary NBA team according to the Associated Press.

The AP reports that Formula E is the first investment for Grousbeck’s Causeway Media Partners, a recently-formed company that has raised about $100 million to invest in sports and entertainment properties.

Mark Wan (pictured, right), a co-owner of both the Celtics and the NFL’s San Francisco 49ers, and Bob Higgins (pictured, center) are managing partners at Causeway alongside Grousbeck, who led the group that bought the Celtics in 2002 and guided the franchise to its 17th NBA title in 2008.

“We know the power of competition and entertainment, and will bring our knowledge to the development of the market for electric vehicles,” Grousbeck said to the AP.

“Causeway’s mission is to find investment opportunities that benefit from our deep network of NBA and NFL team owners, media executives and professional investors. Formula E is a perfect match.”

The investment marks yet another link to the United States for Formula E, which will stage two American rounds in 2014-2015 at Los Angeles and Miami. Additionally, a pair of U.S.-based teams, Andretti Autosport and Dragon Racing, will be part of the group of squads vying for the inaugural series title.

Alejandro Agag, CEO of Formula E Holdings, has always maintained that the U.S. represents a critical market, and in an e-mail to the AP, he said that Causeway’s involvement will help raise the series’ profile here at home.

“To have a partner that knows deeply the U.S. sports market places us in a unique position to develop our championship in the Americas,” Agag said.

In addition to his company’s investment, Grousbeck will also serve on the board of Formula E Holdings.

Lewis Hamilton comes home to Mercedes factory after fourth title

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On Monday, the Formula 1 schedule finally allowed teams to be in Europe before heading to Abu Dhabi for this weekend’s season finale.

And as such, that provided a window for now four-time World Champion Lewis Hamilton to return to the Mercedes AMG Petronas factories in Brackley and Brixworth to be celebrated for taking the driver’s title, as Hamilton an Valtteri Bottas delivered Mercedes its fourth straight constructor’s title.

Hamilton was at Brixworth, the home of Mercedes-AMG High Performance Powertrains (HPP) and its highly successful Mercedes-Benz Power Units first before heading to Brackley, where he was welcomed with a “guard of honor” as the entire team came out to greet him.

The champion was overwhelmed at the response and the welcome.

“This a very emotional day. I was not expecting this, thanks everyone for the warm welcome,” he said. “Today is something that I will never forget, turning up at the front gate of the factory and seeing everyone out on the street to welcome me – I’m blown away.

“This has been an incredible year, it’s been an incredible journey together. There’s a huge amount of respect and appreciation I have for everyone. I’ve been in the sport for a long time now, but to see the work ethic in Brixworth and Brackley really inspires me. Every time I come around, I see everyone operating at 100%, which encourages me to bring my best performance.

“Thank you all for helping me achieve my dreams, it would not have been possible without you. This is the best championship year, because we’ve been fighting another team and because we’ve had the difficulties and challenges we’ve had – that just makes it so much greater.”

A social roundup of images and videos are below, all via Hamilton and the Mercedes team on social media.