Banbury, Oxfordshire, UK – Sunday 16 November, 2014
Project Brabham Smashes First Phase Target
The first phase of Project Brabham, recently confirmed as the biggest successfully funded sports campaign in history, is now complete having not only met but far exceeded its initial crowdfunding target. The campaign concluded at midnight (Pacific Time) on Saturday 15 November with a total of 2,911 contributions from 64 countries raising £278,057, proving the model’s worldwide appeal.
From the moment Project Brabham launched on 24 September, David Brabham’s open source racing model to return the iconic Brabham Racing team to the tracks of the world received resounding support from fans, drivers and engineers. The campaign raised £125,000, 50 per cent of its initial target, after just three days while Brabham-Fan Early Bird packages sold out within two days and Full Access Early Bird after four days.
In just over six weeks, Project Brabham has built a passionate global community of contributors all signing up to join and be a part of Brabham Racing’s new journey. A community that ensured the first phase target of £250,000 was met six days ahead of schedule before hitting a record-breaking £270,000 with two days to go, and eventually ending on 111 per cent.
Due to its unprecedented success, Project Brabham has been selected to join Indiegogo's Forever Funding pilot. That means the crowdfunding page has re-opened to allow supporters to pre-purchase an annual membership to any of the three Brabham-Digital portals, Brabham-Fan, Brabham-Driver and Brabham-Engineer. A limited number of the FIA WEC Hospitality packages and the Le Mans Engineer Pit Pass perk are also still available.
With the first phase complete over target, the Brabham Racing journey can now really begin. The funds raised will be used to develop the front-end of the new Brabham-Digital portal, the gateway through which members will be immersed in the highs and lows of returning the team to competition. Video, audio and written content will keep the community updated with developments, while members will be asked as early as late December for their opinions by voting on certain team decisions and opportunities.
Crucially, the initial stage of funding will allow the team to rapidly develop its comprehensive prospectus to achieve the investment required for its planned three-year LMP2 programme in the FIA World Endurance Championship.
All subscribers will receive a digital certificate to print off and keep, or to turn their Brabham-Digital experience into a special gift in time for Christmas. Furthermore, all UK and international Christmas Gift Box orders placed in the crowdfunding phase will be fulfilled, and all items sent to the recipient’s confirmed address before the relevant Christmas post deadline.
Thanks to the overwhelming level of support from fans, drivers and engineers and the worldwide awareness raised, the next £500,000 target will be reached through a combined strategy of corporate packages and partnerships, while funds will also continue through the pre-sale of Brabham-Digital one-year subscriptions. When that milestone has been met, the Brabham-Digital portals and content will be built, ready for the team’s return to racing, and the back-office Brabham team put in to place.
Brabham Racing Team Principal David Brabham commented: “Well, our crowd funding campaign has now ended and what a great success it has been. With the support of the community we have raised over £278,000 from 64 countries and gained incredible global exposure. From the Brabham team, we thank each and every one of you regardless of how much you have contributed, it is great to have you all as part of our team.
“We now move to the next phase of building the front-end of Brabham Digital and producing the all important prospectus to bring in the investment and sponsorship to make this a reality quickly. We will be keeping our community informed as we progress and we have already had some very positive meetings with potential partners for the programme. The journey we have all taken now takes another exciting step.”
David’s bold new approach aims to bring Brabham Racing back through a more self-sufficient model that makes motorsport more accessible, transparent and engaging to fans. To back his vision and secure an annual subscription to one of the Brabham-Digital experiences visit the Project Brabham crowdfunding page http://igg.me/at/project-brabham
Top image © PSP Images
Third image © Jakob Ebrey Photography