Discover more

news

Formula E donates $250,000 to charity from 'bet' on Max Verstappen F1 World Championship win

NEWS 12 Dec 2024 3 Mins

Formula E has announced the donation of $250,000 split equally between two impactful causes: advancing the participation of women in Formula E, and to Wings For Life foundation for spinal cord research.

Discover more

news

The donation was originally pledged as part of a ‘bet’ made by Formula E CEO Jeff Dodds in an interview early in 2024, in which he committed $250,000 to a charity if any other driver beat Max Verstappen to win the 2024 FIA Formula 1 World Championship.

Jeff Dodds and Max Verstappen on ‘the bet’

Following Max’s convincing fourth-consecutive championship victory, Jeff and Max discussed the ‘bet’ during a video call ahead of the opening round of the ABB FIA Formula E World Championship’s Season 11 that took place in São Paulo, Brazil on 7 December.

HIGHLIGHTS: Watch the best of the São Paulo E-Prix Round 1

After Jeff congratulated Max on his victory - and claiming, tongue firmly in cheek, that his title was never in doubt - the pair agreed to split the funds 50/50 to benefit a charity they each chose.

The pledges

$125,000 has been pledged by Max to Wings For Life, Oracle Red Bull Racing’s partner charity, which

aims to find a cure for spinal cord injury. Jeff then committed the remaining $125,000 to establish a new fund supporting initiatives dedicated to providing greater opportunities for women in motorsport.

Following Formula E’s ground-breaking all-women’s Test - the first-ever of its kind test event for an FIA World Championship - which took place in Madrid in November with 18 of the world’s best women drivers, Formula E is developing strategic initiatives to support parity and inclusion for women in the sport, with further announcements to be made in due course.

A strategic partnership with More Than Equal

Formula E is proud to announce that the first initiative funded as part of the new $125,000 fund will be a strategic research partnership with More Than Equal. The independent, not-for-profit organisation was founded with research, data-driven insight, talent identification and driver development as its core goals.

More Than Equal and Formula E have commissioned research to understand the barriers - systemic, technical and cultural - faced by women striving to race full-time at the highest level in Formula E. The research will support Formula E in better understanding talent pathways and build a tangible framework for the future diversity of the championship.

Jeff Dodds, CEO, Formula E, said: “What started as a very tongue-in-cheek ‘bet’ at the start of the season has evolved into a serious commitment to support gender equity within our Championship, with the ultimate goal of seeing women competing full-time in Formula E.

“As a first step, the research we have commissioned in partnership with More Than Equal will help us better understand the barriers to entry that women currently face, and how specifically Formula E and our teams can provide greater parity, opportunities and inclusion at the top level of our championship.

“My thanks also go to Max and Oracle Red Bull Racing for committing half of the money from my original wager to Wings For Life to support the important work they do around spinal cord research. Congratulations to Max on his fourth-consecutive World Drivers’ Championship and we look forward to even more competitive racing next season.

"Meanwhile, the new Formula E season is already well underway and we’re excited to showcase more thrilling races, lots of exciting overtaking and fantastic wheel-to-wheel action for our fans across the globe.”

During the call, Max Verstappen, Oracle Red Bull Racing driver, said: “The charity closest to me is Wings For Life and I’m sure they’ll be very grateful; and to support any kind of motorsport and young talent is amazing, so I think it’s a great shout from you. Thank you very much Jeff, I wish you all the best of course, and I’ll be watching the championship during my time off!”

Dr. Fran Longstaff, Head of Research at More than Equal, said: “Formula E has demonstrated a strong commitment to developing and providing opportunities for female drivers, and we’re thrilled to partner with them on this important research initiative.

"This project will use our expertise to identify the key factors that contribute to success in this unique and rapidly evolving series, which demands a distinctive blend of skills and experience. By working closely with drivers, team managers, engineers, and other experts, we aim to translate these insights into actionable recommendations for driver development."

Anita Gerhardter, CEO, Wings for Life, said: “A big thank you to Jeff Dodds, the entire Formula E team and Max Verstappen for this generous donation to Wings for Life. 100% of the donation will go towards promising research projects around the world to help find a cure for spinal cord injury.”