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Motor racing-Boston Celtics owner invests in electric car racing

Dec 20 (Reuters) – Boston Celtics basketball owner Wyc Grousbeck and his business partners have invested millions of dollars in the Formula E electric car racing series that will start next year, its organisers said on Friday.

Grousbeck is making the investment through Causeway Media Partners, a fund he set up in May and which has been backed by a number of NFL and NBA team owners.

Financial details were not disclosed but media reports said they were injecting $21 million into the project.

“We believe Formula E is a great evolutionary step in motorsport and a way to entertain millions around the world while driving the development of the best possible electric vehicles,” Grousbeck said in a statement.
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