Wyc Grousbeck, Bob Higgins, Mark Wan

Boston Celtics owners provide financial jolt to Formula E


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.

Sainz keen to race in Russia; decision to be made on Sunday

xxxx during final practice for the Formula One Grand Prix of Russia at Sochi Autodrom on October 10, 2015 in Sochi, Russia.
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Carlos Sainz Jr. has been discharged from hospital in Sochi following his practice accident, and is now hoping to take part in tomorrow’s Russian Grand Prix.

Sainz crashed at turn 13 with considerable force during final practice on Saturday, pitching underneath the TecPro barrier that made extracting him from the car difficult.

After 20 minutes, the rescue staff on site were able to remove Sainz from the car before transporting him in an ambulance to the medical centre.

Sainz gave a thumbs up to fans on the way there, and tweeted from hospital that he was unharmed after undergoing a number of checks.

In a statement issued by Toro Rosso after qualifying on Saturday, it was confirmed that Sainz had been discharged from hospital. The Spaniard has now set his sights on starting tomorrow’s race.

“My back and my neck are just a bit sore from the accident, but I’m totally ready,” Sainz said. “Hopefully tomorrow I will wake up in a good shape and maybe I can try and race – this is definitely the intention!

“Obviously we need to be cautious. I’ve always been conscious. As soon as the accident happened I tried to talk to the team on the radio, but it wasn’t working and those must have been some scary moments.

“I’d like to thank everyone for their support, it’s really nice to receive all your messages at a moment like this one! I hope to see you all tomorrow out there!”

Team principal Franz Tost confirmed that a decision will be made on Sainz’s participation following further medical checks on Sunday before clarifying the suspected cause of the accident.

“I’m very happy that Carlos is okay and out of hospital, this is the most important thing for us,” Tost said. “I hope he will have a good night’s sleep and tomorrow morning he will have to go through the FIA medical checks to decide if he will be able to take part in tomorrow’s race.

“Now, just to clarify what happened. Prior to the accident, Carlos had completed a long-run on the option tire, before changing to the prime to do two further laps. On primes the grip level is lower.

“In addition he had changed the brake shape on the steering wheel, which meant he had more braking rearwards. A combination of these two factors might have been the cause of the rears locking, which made the car uncontrollable.”

Should Sainz be deemed fit by the FIA medical delegate, he will have to start the race from the pit lane.

The Russian Grand Prix is live on NBCSN and Live Extra from 6:30am ET on Sunday.

Hamilton unsure about Mercedes’ race pace in Russia

xxxx during qualifying for the Formula One Grand Prix of Russia at Sochi Autodrom on October 10, 2015 in Sochi, Russia.
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Lewis Hamilton remains unsure about Mercedes’ race pace after losing the majority of practice running to a number of incidents on Friday and Saturday.

The entire field was limited to just one hour of dry running on Friday when a diesel spillage caused the session to be shortened.

Heavy rain washed out FP2, and FP3 was red flagged after 35 minutes when Carlos Sainz Jr. crashed hard at turn 13.

Mercedes showed few signs of weakness in qualifying, though, as it locked out the front row of the grid with Nico Rosberg scoring his third pole position of the season.

Hamilton admitted that he made a mistake on his final lap in Q3, but is unsure how Mercedes will shape up in the race compared to the rest of the field.

“Everyone was in the same position today with the limited practice,” Hamilton said. “I didn’t get a hooked-up lap together but Nico did, so well done to him.

“It’s going to be a long race tomorrow though, so hopefully I might have a chance. There’s a long run down to turn two, so we’ll both be studying the line to take tonight. Maybe I can get a good start, we’ll see.

“We haven’t done a lot of laps, so I’m not really sure what our pace is like compared to the others. Our goal in the race as always is to finish well for the team, so we’ll be trying to do that.”

The Russian Grand Prix is live on NBCSN and Live Extra from 6:30am ET on Sunday.