Shah Rukh Khan along with partners of Indian Premier League franchise Kolkata Knight Riders, the Mehta Group, will take charge of one of the nine teams to take part in the city-based competition.
Apart from having nine teams from as many cities, each franchise will have an Indian and an international driver.
The inaugural Indian Grand Prix held last week was a huge success and Shah Rukh feels the I1 Super Series will only add to the increase in the popularity of motorsports in India.
"The I1 Super Series is a very interesting concept as it gets racing drivers from across the globe to partner with young Indian talent. After the inaugural Indian GP it is clear that motorsports is hugely popular in India and I strongly believe that this series will be a success with its one-of-a-kind concept. The concept is similar to the IPL and I am confident that in the years to come this can become one of the biggest motorsport events in the world," said Shah Rukh.
Machdar Motorsports, the promoters of the I1 Super Series, welcomed Shar Rukh`s entry into the league.
"We are absolutely thrilled to welcome Shah Rukh Khan to the I1 Super Series as the franchisee holder for Mumbai. The announcement marks a momentous occasion for motorsports in India with one of the biggest stars in the country aligning with the highly anticipated series," said Anjana Reddy, director, Machdar Motorsports.
The first two races out of the 12 will take place at Buddh International Circuit in Greater Noida, India while the other venues will be Malaysia, Qatar, Abu Dhabi and Bahrain.
I1 Super Series is a single-make racing competition. Radical SR3 Supercar, which has a top speed of 250 kmph, will be used by all the teams. The total prize money of the event will be $2 million.
