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- Formula 1 race winners Columbian Juan Pablo Montoya and Brazilian Rubens Barrichello invest in esports racing and esports data company Millennial Esports.
- Additionally, the two race drivers will take on ambassador and special advisor roles for the company to help with insights and credibility.
- Millennial Esports underwent a global restructure under new President and CEO Darren Cox refocusing its attention on esports racing and data provision.
Former Formula 1 drivers Juan Pablo Montoya and Rubens Barrichello will take on ambassador and special advisor roles, for the parent company of World’s Fastest Gamer, Millennial Esports following an investment into the company. Millennial Esports is a Canadian TSX Venture Exchange (TSXV) listed company.
Under the direction of new President and CEO Darren Cox, Millennial Esports Corp has refocused its attention on esports racing and data provision. Last week, the company announced the acquisition of Italian racing simulator manufacturer Allinsports for $6.25M USD.
Millennial Esports recently launched the second season of World’s Fastest Gamer, which provides the winner with a full season of GT racing in 2020 valued at more than $1M.
Montoya and Barrichello are the first two names appointed to a special advisory board operating under the direction of new CEO and industry veteran Cox. Furthermore, Montoya will act as judge for World’s Fastest Gamer season two alongside the inaugural winner, Rudy van Buren. Their appointment is part of Millennial Esports’ new business plan launched by Cox, a former global motorsport director with Nissan.
“I followed Darren Cox’s previous success in the esports racing world with GT Academy. I race online all the time and see the size and passion of the community,” said Barrichello in a release. “I also know the appetite for sponsors to get involved in esports racing, but there are not many credible opportunities. I looked at Millennial Esports’ current and future projects and felt that this was a turning point for the industry, and I wanted to be fully involved.”
The Montoya/Barrichello group’s investment was part of a non-brokered private placement of convertible debentures. Millennial Esports announced on August 9, 2019, that it has raised a total of $15M in three tranches. The Montoya/Barichello group invested as part of the $5.3M second tranche that closed on July 25, 2019.
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