A1 Grand Prix founder Sheikh Maktoum Hasher Al Maktoum has completed his withdrawal from the series first announced on the eve of the second season in Holland a couple of months ago.

The A1GP website reports that the Sheikh has sold of his entire shareholding to RAB Capital plc for an undisclosed sum, and now intends to focus on other projects, including his Dubai International Holding Company, which currently manages a substantial portfolio of assets and new ventures.

RAB Capital acquisition confirms its as the largest institutional shareholder now in A1GP, and the Sheikh is confident that the company will be able to build on his dream, which he claims was realised with the completion of season one in 2005-06.

"With RAB Capital's financial expertise and ability to appoint additional management, I am confident that A1GP will attain a new level of excellence," he said, "I wish A1GP, RAB and the series every success in the future."

Despite recent rumours that the series continued to be struggling financially, RAB CEO Philip Richards insists that he wants to see A1GP thrive.

"We believe that A1GP will fulfil its promise as the exciting world cup of motorsport, where driver skill is all important, as national teams compete for the world championship without the distortion of a different manufacturer for each team," he noted, "The popularity of the series continues to grow throughout the world and importantly, Asia, where this exciting sport matches the aspirations of billions of citizens across half the planet."

The fifth round of the 2006-07 championship produced yet another new winner, as New Zealand took a double triumph in difficult conditions at Sentul in Indonesia.

 

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