P1 is set to expand its global operation after purchasing Europe’s leading PWC promoter and race series, Jetcross, writes former P1 team owner Richard Carr.
P1 successfully acquired the series after raising £1.5m from its investors as part of its global expansion plans. The purchase is the second major move by the promoter has made this year following its launch of the AquaX Pro Enduro and AquaX Pro Sprint series in the USA earlier this year.
Aqua X has been a part of P1’s UK setup since 2011, a series which has grown through a logical racing structure from novice to elite racers.
P1 AquaX will join the Jetcross series as separate events throughout the remainder of the series, whilst the 2016 P1 AquaX Pro Enduro series will also continue and has attracted crowds of more than 80,000.
The events are broadcasted live to more than 140 countries on major sporting networks around the world.
Powerboatp1.com featured the thoughts of the major players involved in the deal:
Lisa Barsby, Head of AquaX – International said: “The owner of Jetcross , Julien Bastien has built a reputation in Europe as the leading PWC promoter for stand-up circuit racing. His understanding of what racers want and the marketing profile of his events has committed the best riders from around Europe to his Tour. We are very excited to amalgamate Jetcross into P1 and we look forward to the continued rise of PWC racing in Europe, Asia and the Americas”.
Julien Bastien commented: “I have followed the success of AquaX since 2011 and seen it gain a reputation as one of the most professional and high profile PWC promoters in the world. I want the Jetcross brand to become a world leader in PWC racing and I believe that this merger with P1 will allow this to become a reality. I can’t wait to get started”.
James Durbin, CEO of P1 “This move is a significant statement regarding our commitment and expansion plans for PWC racing. Following the ground-breaking TV deals with FOX Sports and NBC in the USA earlier this year, we needed to expedite our European expansion plans to capitalise on the exponential growth and profile that AquaX has created. Jetcross is a strong brand with a superb reputation for promoting PWC racing and we are delighted that it will now be part of the P1 family of marine racing brands”.