Class One and F1 merge to form Nations Cup

Dubai: The world governing body for watersports has agreed to a merger of Class One, Formula 1 and the new concept of Nations Cup racing effective from January 1.

A joint statement was issued by UIM President Raffaele Chiulli, IOTA Chairman Gianfranco Venturelli and F1 promoter Nicolo di San Germano, who is also the chairman of the newly floated Idea Marketing, after their meeting in Dubai late on Sunday.

"This is a great moment for the future of our sport as it brings together all the synergies under the UIM umbrella while also culminating the best available expertise and resources in our sport," the joint statement said.

The new mutually satisfactory agreement has been reached between the world governing body UIM and its current contracted commercial right holders, World Professional Powerboat Association (WPPA) and the International Offshore Teams Association (IOTA).

Effective January 1, the new company named Class One promotion and part of the Idea Marketing Group, will promote Formula 1, the new concept of Nations Cup along with the UIM Class One World Powerboat Championship.

"The idea of bringing together all three championships as a unified brand lies in our approach of taking our sport to the next level," Chiulli told Gulf News prior to his departure to Italy.

"All parties are working with one single aim for the development of our sport. What we will get now is a sport that is much better, more unified and a competition that is even stronger than before, and all this under the umbrella of the UIM family," Chiulli added.

Ever since taking over as the UIM President, Chiulli has stressed the importance of laying out a blue print for taking watersport to the next level. And much of his initial success lies in the recognition given to powerboat racing by the International Olympic Committee earlier this year.

"So it is but logical to see that we take adequate measures to ensure the growth and success of our sport. There have been hurdles and challenges and I am glad that we have sat at one table and sorted these out and the winner in all this is our sport and our family," Chiulli said.

Couple of meetings

Prior to the Dubai decision, the UIM General Assembly had met in Malta and followed this up with meetings in Dubai last week at which the new UIM technical rules governing Class One were agreed upon.

"The new set of UIM rules will ensure the collective wish for stability, affordability and reliability," Chiulli said.