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Celtics owners plug in to Formula E racing circuit

December 19, 2013

BOSTON (AP) — Boston Celtics managing partner Wyc Grousbeck and a dozen of his fellow owners in the NBA team have invested $21 million into the Formula E electric car racing circuit.

The series featuring Formula One-style electric cars has already attracted celebrities with environmental interests such as Leonardo DiCaprio and Richard Branson.

Grousbeck told The Associated Press shortly before the deal closed this week that the group will call on its “deep network of NBA and NFL owners” to help the sport succeed in the United States.

Formula E CEO Alejandro Agag says the race cars could lead to technology that will eventually show up in street-ready electric cars.

Forumla E is scheduled to debut in Beijing in September in a 10-race championship.

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