Formula E Appoints Former AEG Exec Sam Piccione To Boost Series’ Revenue

Sam Piccione III "might be new to motor-sports, but he’s far from new to sales — and that’s the experience Formula E executives want in their newly hired chief revenue officer," according to HJ Mai of SPORTSBUSINESS JOURNAL.

Piccione "joined the electric racing series earlier this month after having most recently worked as senior vice president of sales for AEG Europe and previously for AEG China." Formula E "begins its second season Saturday with a race in Beijing." Piccione said that "he sees a thread between his current and most recent employer."

Piccione: "I had an amazing run at AEG to be a part of a big company that started small and entrepreneurial and became global. Formula E is similar in those notes and has the entrepreneurial spirit." Piccione, 40, "will work out of Formula E’s headquarters in London." He "will report to series CEO Alejandro Agag."

Formula E had 10 blue-chip companies as official corporate partners for its inaugural '14-15 season, including DHL, Visa and Qualcomm. Piccione said that "he wants to continue the series’ pursuit of partners in the technology and sustainability sectors." A top priority "is finding a new championship cup sponsor." BCN World, owned by Formula E co-founder Enrique Banuelos, "held that position in the series’ first season" SPORTSBUSINESS JOURNAL