Lagos joined the championship<\/a> in 2025 as its first African host city, placing it on a circuit that includes Monaco, Miami and Lake Como.
\n <\/p>\n
\n Team PRONC moves that participation beyond hosting by giving Nigerian investors a direct ownership position within the championship.
\n <\/p>\n
\n Hammond said the team\u2019s arrival had already generated greater interest in Lagos among E1\u2019s celebrity owners.
\n <\/p>\n
\n \u201cWill Smith, LeBron James \u2014 they\u2019re saying they\u2019d love to come to our city,\u201d Hammond said.
\n <\/p>\n
\n
\n
\n
\n
\n
\n ![\"Team](\"data:image\/svg+xml;charset=utf8,%3Csvg%20xmlns%3D'http%3A%2F%2Fwww.w3.org%2F2000%2Fsvg'%20width%3D'790'%20height%3D'445'%20data-ring-placeholder%3D'1'%3E%3C%2Fsvg%3E\" "\\"Team")
<\/p>\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n E1 targets \u20ac500 million valuation
\n
\n
\n
\n
\n
\n <\/p>\n
\n The expansion also carries a significant financial dimension.
\n <\/p>\n
\n During E1\u2019s Lagos debut in 2025, the championship was seeking about \u20ac20 million in fresh capital as part of plans to reach a \u20ac500 million valuation by 2030.
\n <\/p>\n
\n Reports around the event estimated start-up commitments of about \u20ac2 million per team, with annual operating costs of roughly another \u20ac2 million.
\n <\/p>\n
\n Team PRONC\u2019s founders also plan to use the franchise to promote Nigerian hospitality, music, fashion and tourism while creating opportunities for emerging African athletes and innovators.
\n <\/p>\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n Will Smith pushes E1\u2019s African expansion
\n
\n
\n
\n
\n
\n <\/p>\n
\n Smith\u2019s interest in Nigeria follows his involvement in E1\u2019s expansion elsewhere on the continent.
\n <\/p>\n
\n In March 2026, he travelled to Luanda alongside E1 founder and chairman Alejandro Agag and Angola\u2019s Tourism Minister M\u00e1rcio de Jesus Lopes Daniel to announce the E1 Luanda GP.
\n <\/p>\n
\n Scheduled for September 12-13, the race will make Angola E1\u2019s second African destination after Lagos and its first in Southern Africa.
\n <\/p>\n
\n \u201cAfrica has always embodied passion and relentless drive. E1 in Angola is more than a moment; it\u2019s a movement,\u201d Smith said.
\n <\/p>\n
\n Smith owns the Visit Angola Westbrook Racing team. Other E1 team owners include LeBron James, Tom Brady, Didier Drogba, Rafael Nadal and DJ Steve Aoki.
\n <\/p>\n
\n The Luanda race will also extend Angola\u2019s international exposure, with E1 broadcasts available in more than 230 territories through platforms including DAZN, SuperSport and YouTube.
\n <\/p>\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n
\n E1 widens its African base
\n
\n
\n
\n
\n
\n <\/p>\n
\n The addition of Lagos, Luanda and Team PRONC comes as E1 builds its African presence around sport, destination marketing, electric marine technology and sustainability.
\n <\/p>\n
\n Luanda, a major Atlantic maritime gateway, plans to use the race to promote tourism and investment while highlighting Angola\u2019s infrastructure and hydroelectric power development.
\n <\/p>\n
\n E1 founder and chairman Alejandro Agag said Team PRONC would further connect the championship\u2019s international growth strategy with Africa.
\n <\/p>\n
\n \u201cE1 was created to inspire a new era of clean racing on the water, and Team PRONC underlines that ambition. Having Cecil Hammond and Richie Shittu joining the Championship next year connects our vision for global expansion and innovation with a wider base in Africa, helping to expand E1’s reach and influence as the Championship’s momentum continues.\u201d
\n <\/p>\n
\n The all-electric championship requires teams to field both male and female pilots and combines racing with marine technology and conservation.
\n <\/p>\n
\n Team PRONC is expected to announce its celebrity partner, pilots and technical programme before its 2027 debut, adding African franchise ownership to E1\u2019s growing race presence on the continent.
\n <\/p>\n","protected":false},"excerpt":{"rendered":"
The $500 million E1 electric racing league is drawing deeper African investment and celebrity interest, with Nigerian…\n","protected":false},"author":2,"featured_media":572683,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32],"tags":[430,156,111,139,69],"class_list":["post-572682","post","type-post","status-publish","format-standard","has-post-thumbnail","category-celebrities","tag-celebrities","tag-entertainment","tag-new-zealand","tag-newzealand","tag-nz"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/572682","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=572682"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/572682\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/572683"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=572682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=572682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=572682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}