TTXGP, the driving force behind electric motorcycle racing, has evolved the series into cooperative where teams will play a major role in how the championship is run, as well as sharing its profits.
The creation of Trust.eGrandPrix.Org (TEO), where teams can attain up to a 70 percent ownership of TTXGP based on the number of races they complete and their points standing, is a FIM smack in the eye for the FIM, who allegedly ousted TTXGP from the 2010 Isle of Man zero emission event in order to gain control of epower motorcycle racing.
“This is a big Control-Alt-Delete for motorsports. It’s a reboot. We’re giving teams control. This binds everyone together on a common trajectory and it gives everyone a piece of the action they’re generating,” said TTXGP guru Azhar Hussain.
"Racing organisations are effectively cartels and empires,” Hussain added. “We need to reboot what it is to be a racing organisation. [The TEO] is open, it is transparent and it is democratic.”
Visordown spoke with TTXGP earlier today about the new initiative. They said:
TEO (Trust.eGrandPrix.Org) allows teams to participate in the profits of TTXGP. A key objective is to create a stable income stream for teams to start building long term plans for people, technologies and organisation.
You can’t buy into TEO, the only way to be part of it is to race. The idea is that the ownership and value pool is held by the group who actively create it. As teams stop racing, they automatically leave the earnings pool whilst new teams enter. TEO has its own board elected by the members, which are the teams. Everything is transparent and accountable.
The more you race, the more you the make the series, the more you earn. Racing with TTXGP in 2010 will see your rewards multiplied. If you are committed to TTXGP exclusively, then your rewards are multiplied again. More details can be found at trust.egrandprix.org. It is a little complicated and we are looking at ways to make it easier to explain. Contact us for any information you need and we’ll share what we know and listen to your ideas on how to improve it.
Participation in TTXGP 2010, gives you a real chance to not just be at the dawn of the next generation of motorsports, but also to become an equitable partner in the value that you create. TEO is our commitment to make you, the industry and the sport as successful as possible. We can’t do it alone. Standing together we extend the transformation beyond the track and make it lasting.
With TTXGP, being part of it has never been so full of potential and promise. Our credo is New Day, New Rules, New Game. With TEO, this becomes Your Day, Your Rules, Your Game.
Join TTXGP 2010 and start the journey to build a sustainable, profitable and lasting future in the next generation of motorsport.
Race to Own!
Get the full info at TTXGP
