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RIYADH: Following the successful conclusion of Formula E Season 8 for Rocket Venturi Racing, Venturi Grand Prix has announced its transition to the Monaco Sports Group ahead of the imminent Gen3 car era.

ROKiT Venturi Racing recently came second in the 2021-22 Team Championship, while its two drivers Edoardo Mortara and Lucas Di Grassi finished third and fifth, respectively, in the drivers’ standings.

The name change heralds the start of a new era in Formula E and precedes the team’s title and powertrain partnership with Maserati for the series’ Gen3 ruleset from Season 9.

Under its new name, the Monaco Sports Group will continue to be controlled by Chairman Scott Swid, and Managing Partner Jose M. Aznar Botella, and will remain headquartered at the same address in the principality.

Swid said: “After completing our most successful season in history, I’m extremely proud to open our next chapter as Monaco Sports Group from Season 9 onwards.

“We have the passion, determination, and experience to compete at the front of the grid, and alongside our partnership with Maserati and their return to top-tier motorsport for the first time in 60 years, we’re facilitating one of the most exciting stories in international sport.

“This spirit stems from our own origins as one of Formula E’s founding teams when, in 2013, Venturi Automobiles president and electric mobility pioneer, Gildo Pastor, made the bold decision to form Venturi Racing ahead of Formula E’s first season.

“To honor this legacy, we will race with the same ambitious ethos as Formula E – one of the fastest-growing sporting platforms in the world – reaching new heights in 2023 with the revolutionary Gen3 car which represents the pinnacle of electric vehicle performance. I can’t begin to express how excited we are to line up on the grid in Mexico City this January as we kick off Season 9,” Swid added.