Sheikh Maktoum Bids Farewell to A1GP

LONDON--Delighted with his motorsport creation, A1 Grand Prix Founder and Chairman Sheikh Maktoum Bin Hasher Al Maktoum will soon be completing a multi-million dollar transaction that will see financial institutions acquire all of his A1 Grand Prix (A1GP) stock and his A1GP, World Cup of Motorsport brand.

Reflecting on the past four years, Sheikh Maktoum said: "I am happy. I've built the series with fans in mind; I feel like I've fulfilled my promise to them by bringing A1 from concept to reality. Now, as long as my vision is properly maintained, the fans will continue to love the World Cup of Motorsport."

The all cash transaction is completing within thirty days and was formally agreed on 18 May 2006.

Commenting on the financing of A1GP, Sheikh Maktoum said: "I'd like to thank all investors, including the first investor. It is clear that A1, in and of itself, can attract and has attracted money, so I think A1 will continue to do so even without the involvement of myself, my family, or Dubai."

Sheikh Maktoum is now devoting his attention to his Dubai International Holding Company (DIHC) which currently manages a multi-billion dollar portfolio of assets and new ventures. DIHC is also in the process of acquiring a substantial stake in AlwaysNow LLC, the intellectual property and information technology boutique that brought the A1 Grand Prix brand online, globally.