Photo: Formula Motorsport Ltd
PHM Racing’s Formula 2 and Formula 3 squads have been rebranded as AIX Racing after the Dubai-based financial services firm AIX Investment Group completed its acquisition of the German outfit.
AIX has taken control of the team through its ‘We Are The Future’ programme, the umbrella term covering its portfolio of partnerships in sport and development.
PHM currently races in F2, FIA F3, Formula Regional Middle East and the Central European Zone, Italian, European and United Arab Emirates Formula 4 championships.
“Our vision for AIX Racing transcends mere ownership; it embodies a commitment to excellence, innovation, and success,” said Morne Reinecke, CEO of the ‘We Are The Future’ initiative, in a statement.
“With this acquisition, we pledge to bring the highest quality of resources to our teams and drivers, empowering them to reach unprecedented heights of performance and accomplishment.”
PHM acquired Charouz Racing System’s F2 and FIA F3 entries, as well as the related assets, at the end of 2022 after outbidding other interested parties and it ran those two squads out of Charouz’s Czech factory through 2023.
AIX joined as sponsor of the F2 squad that year, before increasing its involvement at the start of 2024 by becoming the title sponsor of its entries into F2, F3 and F4.
In addition to its involvement with PHM, AIX sponsors Euroformula points leader Brad Benavides and Charlie and Oscar Wurz, who are racing in F3 and F4 respectively and are the sons of ex-Formula 1 driver Alex Wurz.
“It is very exciting to help assess and craft the future superstars in their final steps towards the pinnacle of motorsport, into F1,” said the older Wurz, who is a strategic advisor to AIX.
“With AIX Investment Group’s culture to foster and support talent, our goal at AIX Racing is to provide the platform to inspire and maximize performance at this elite level of competition.”
Outside motorsport, ‘We Are The Future’ supports Spanish football club RC Celta de Vigo, and Iker Casillas and Fursan Hispania’s UAE-based football academies.
Formula Scout understands that there will be no operational changes within the team as a result of the takeover, and that the F4 squads will continue to compete as PHM AIX Racing rather than rebranding.