North One Sport, the company that promotes the World Rally Championship (WRC), has been acquired by sports marketing group Convers Sports Initiatives (CSI).
London-based North One Sport was appointed global promoter for the WRC by motorsport’s world governing body, the Fédération Internationale de l’Automobile (FIA), in 2009. The agreement, which also includes the exclusive commercial and media rights to the WRC, runs until 2020.
CSI is run by Russian entrepreneur and rally enthusiast Vladimir Antonov, Roman Dubov and former Leeds United chairman Chris Akers. The company has numerous interests in the sports, media and entertainment industries, ranging from news websites, to a controlling stake in PowerPlay golf. The company was recently rumoured to be looking into a takeover of Portsmouth FC.
CSI acquired North One Sport from parent company North One Television, who will continue to produce all the programming for the WRC. North One Television acquired the WRC’s commercial rights holding company, ISC (International Sportsworld Communicators) in 2007 and re-badged it as North One Sport.
North One Sport also manages the media distribution and content delivery for the Isle of Man TT, the Velux 5 Oceans Race and the Clipper Round the World yacht race.
Undertaking a series of structural changes, North One Sport has succeeded in injecting some commercial impetus into the WRC. Mini announced last year that they would be joining established competitors Citroen and Ford in the WRC with an official two-car team in 2011. The opening round of this season, February’s Rally Sweden, was the first to feature another new addition for 2011; a live televised Power Stage, footage of which was distributed around the world.
Under the terms of the deal North One Sport will relocate to CSI’s headquarters in London but will retain, for the meantime, its company name."Convers Sports’ acquisition of North One Sport starts a new page in the history of the WRC,” said Vladimir Antonov. “Our team will use all the resources available to us to continue to excite fans with one of the best racing challenges in the world.
“Convers Sports will dedicate our hearts and minds to continue building the legacy of this extraordinary sport. We want it to evolve into something exceptional. Convers Sports will do whatever is necessary to maximise this opportunity and leave our mark in global motorsport history,” he added.
“In some ways it’s business as usual for North One Sport,” said the company's chief executive Simon Long. “The vision remains the same and we have continuity in that the great team of individuals that work for us will continue to do so. But with the extra resources now at our disposal – both financially and in terms of the related knowledge and experience that the team at CSI brings – we’re in a better position than ever before to push the WRC forward."
Source: SportsPro
