Rallying-France's Cosmobilis and Park Square Capital acquire WRC commercial rights

July 31 : French automotive group Cosmobilis and private credit investor Park Square Capital acquired the commercial rights to the World Rally Championship on Friday in what the governing body hailed as the "deal of the century" for the sport.The International Automobile Federation (FIA) said the long-term agreement, which includes the rights to the FIA European Rally Championship, followed the takeover of Munich-based WRC Promoter GmbH.The previous rights holders were Red Bull and German investment firm KW25. Former Formula One team boss Eric Boullier will now head the operation.“This is truly the deal of the century for rallying, and I am proud to announce this transformative step forward, and never-before-seen levels of investment," said FIA President Mohammed Ben Sulayem in a statement