Even Formula 1 balls make money

EVENT VISION, the organization which organizes the Grand Prix balls, has been sold to a listed company called Podia in a deal worth $3m. A further $14m could be paid, based on the performance of the company in the course of the next three years.

The Grand Prix Ball organization had revenues last year of $1.9m.

Podia has been building up a portfolio of motorsport activities in recent months, including the merchandising rights for the Jaguar and BMW Williams F1 teams.

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