FIA WEC: Project Brabham enters next crucial fundraising stage

BY John Dagys • February 11, 2015

Following the success of its initial crowd-funding campaign, which raised more than $400,000 in seed money, Project Brabham has entered the next crucial fundraising stage, in its quest of making the grid in the FIA World Endurance Championship later this year.

While there hasn’t been much news as of late, the program has continued to make steps forward, according to team principal David Brabham, who has begun the negotiation process with prospective partners to secure the second round of funding.

“We’re talking to the right people,” Brabham told Sportscar365. “That’s the priority at the moment, to get out there and into the financial world to get the backing.”

Brabham said he’s already spoken to a number of interested parties, including some on-hand during last weekend’s Liqui-Moly Bathurst 12 Hour, where the Australian ace piloted a customer Bentley Continental GT3.

The initial funding, which came from more than 2,900 contributors from 64 countries, has helped secure Brabham Digital as well as the prospectus which, according to Brabham, will take the project to the next level.

“The next few months are heads down and get the funding,” he said. “The prospectus is out and we need feedback. Do we need to modify it? All these things take time.

“We’ve got to make sure the product is right, the financials are right. Once that’s there, we’ll know who’s exactly interested and who’s not and find the right partners.”

Brabham said he’s targeting to have funding in place in the next three to four months, with the goal of entering the end-of-season FIA WEC races in LMP2.

No decision has been made on the chassis or engine package, although the former American Le Mans Series champion and 2009 Le Mans winner has been impressed by the growth of the globe-trotting championship.

“It puts a bit more pressure on us, to be honest,” Brabham said. “But we’ll see what happens at the end of the year. They’re very supportive and would obviously like to see us in there. They like our model and the fact that it’s Brabham coming back is big for them. We’ll just do what we can.”

Article originally on SportsCar365.com.


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