The $500 million E1 electric racing league is drawing deeper African investment and celebrity interest, with Nigerian entrepreneurs preparing to field the country’s first team alongside franchises owned by Will Smith, LeBron James, Tom Brady and Didier Drogba.

Against that backdrop, American actor and Academy Award winner Will Smith and NBA star LeBron James have separately expressed interest in visiting Nigeria after Team PRONC joined the UIM E1 World Championship presented by PIF for the 2027 season.

Team PRONC co-founder Richie Shittu said Smith made the remark during a recent E1 race weekend in Monaco.

“Will Smith was like, ‘Hey, bring me home, guys. I want to come home,’” Shittu told Forbes Africa.

E1’s African expansion gains commercial momentum

The expansion of E1 into Africa carries a significant financial dimension, with the championship seeking to build a commercial footprint beyond racing.

During E1’s Lagos debut in 2025, the championship was seeking about €20 million in fresh capital as part of plans to reach a €500 million valuation by 2030.

Reports around the event estimated start-up commitments of about €2 million per team, with annual operating costs of roughly another €2 million.Lagos’ entry into the championship marked E1’s first African destination, with the race held at the Lagos Lagoon waterfront and projected to generate more than $100 million in economic impact through tourism, hospitality, sponsorships and related business activity.

Nigeria moves from hosting to ownership

The momentum from Lagos has since expanded into ownership, with Nigerian investors launching Team PRONC as the country’s first franchise in the championship.

Established by Nigerian entrepreneurs and investors Cecil Hammond, Richie Shittu, Preye Berezi, Osahon Okunbo and Ndy Oruche, the team brings experience from hospitality, live entertainment, private members’ clubs and cultural ventures into motorsport.

Team PRONC’s entry moves Nigeria’s involvement beyond hosting races by giving local investors a direct stake in the global electric racing championship while using the franchise to promote Nigerian hospitality, music, fashion and tourism.