Munich – The Fédération Internationale de l'Automobile (FIA), the global governing body for motorsport, has signed a long-term agreement covering the commercial rights to the FIA World Rally Championship (WRC) and the FIA European Rally Championship (ERC). The agreement was concluded as part of the acquisition of WRC Promoter GmbH by Cosmobilis and Park Square Capital. According to the FIA, this is the largest commercial agreement in the history of both championships. The transaction lays the foundations for significant investment in rallying and is designed to support the continued development of the WRC and ERC as well as the global promotion of rallying in the long term.
An international CMS team led by Tom Jameson, a partner at CMS in the UK, advised the FIA on all legal aspects of the agreement and assisted it in establishing a long-term framework for the commercial marketing and further development of the WRC and ERC. Dr Jessica Mohaupt and David Fier of CMS in Germany provided comprehensive advice on the German legal aspects of the transaction.
The FIA is the global governing body for motorsport and represents the interests of motoring clubs and motorsport organisations worldwide. It organises and regulates numerous international racing series and sets the sporting and technical framework for professional motorsport.
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