Formula E boss donates 240,000 euros to charities after betting on Max Verstappen

Jeff Dodds, CEO of Formula E, made a donation of 240,000 euros to associations following a humorous bet concerning the four-time F1 world champion, Max Verstappen.

In February, Jeff Dodds had promised to donate this amount to charities if Max Verstappen did not win the title for the fourth consecutive year. He had added that the Red Bull driver was absolutely sure to win this season.

The head of Formula E was right, the 27-year-old Dutchman clinched his fourth world title in Las Vegas, with two races remaining in the 2024 season. In theory, Jeff Dodds would not have been obligated to honor his bet, but he nevertheless decided to pay the money.

A $250,000 donation to two very worthy causes: supporting our women in motorsport fund via @Morethan_Equal, and @redbullmotors Wings for Life 🤝

— Formula E (@FIAFormulaE) December 12, 2024

A serious commitment

The donation of $250,000 will be evenly distributed between the Red Bull foundation Wings for Life, which funds research on spinal cord injuries, and More than Equal, a fund aiming to provide more opportunities for women in motorsport.

What began as a humorous bet at the start of the season has turned into a serious commitment to gender equality in our championship, with the ultimate goal of seeing women compete full-time in Formula E », explained Jeff Dodds.

« Firstly, the research we have commissioned in partnership with More Than Equal will help us better understand the obstacles women currently face in entering this sport, and how Formula E and its teams can offer more equality, opportunities, and inclusion at the highest level of our championship.

During a discussion with Jeff Dodds, Max Verstappen stated: « The association that matters most to me is Wings for Life, and I am sure they will be very grateful. Supporting motorsport and young talents is incredible, so I find it’s a great initiative. » The four-time world champion added that he « will follow the championship during his free time ».

Dr. Fran Longstaff, Head of Research at More than Equal, stated: « Formula E has shown a strong commitment to developing and providing opportunities for female drivers, and we are thrilled to collaborate with them on this important research initiative. »

« This project will leverage our expertise to identify the key factors that contribute to success in this unique and constantly evolving series, which demands a distinctive blend of skills and experiences. By working closely with drivers, team leaders, engineers, and other experts, we aim to turn this knowledge into concrete recommendations for driver development. »