ROKiT Venturi Racing Appoint Turnstile
Apr 11, 2022
ROKiT Venturi Racing, one of Formula E’s founding teams, have appointed Turnstile to provide a fair market value assessment of their Intellectual Property, as they seek to quantify the value of sponsors associating themselves with the team.
The appointment follows a multi-year partnership announcement between Maserati and ROKiT Venturi Racing prior to the weekend’s Rome E-Prix double header. The Italian manufacturer and Monegasque Formula E team will link up from Season 9 of the ABB FIA Formula E World Championship.
Formula E and participating teams offer partner brands a compelling, sustainability-based storytelling platform which places even greater emphasis on the need to quantify the value of Intellectual Property. Turnstile’s services will assist all related parties in understanding the true value of these unique partnerships.
Turnstile was built to provide the global sport and entertainment industry with unrivalled insight into the fair market value, or recommended transaction price, of global sponsorships. Underwhelmed by traditional approaches to valuing sponsorship, Turnstile believes the industry requires a valuation approach that is holistic, transparent and realistic.
Turnstile has considerable experience and expertise in the motorsport industry, having previously worked with Formula One, Formula E and Williams Racing, among others.
Chris Travers, Commercial Director at ROKiT Venturi Racing, explained how the team is looking for greater insight into the fair market value of the sustainable, gender diverse and high performing racing brand:
“Turnstile is allowing us to clearly demonstrate the value of associating with our racing team. We believe that Turnstile’s methodology and approach to Intellectual Property in particular, will better reflect what Venturi Racing can deliver to partners compared to simply looking at the exposure that can be delivered on screen.”
Dan Gaunt, General Manager of Turnstile, said
“We’re really pleased to be working alongside ROKiT Venturi Racing. We know our approach and data set, coupled with our expertise in the valuation of Intellectual Property lends itself perfectly to properties within the Formula E ecosystem. We’re passionate about the role that motorsport can play in building a more sustainable world, so it’s an honour to be playing a supporting role in this movement by helping our clients justify their value and attract increased levels of investment.
As business we are committed to contributing to a healthy planet. Each year, Turnstile contributes 2% of profits to fund carbon offset programs, so this project is another way for us to contribute towards our healthy planet objectives.”
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