Category Archives: Formula E

Formula E: Winners Wear Spine

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Leaders in the ABB FIA Formula E Championship, the Techeetah Formula E team announce a  new partnership with SPINE OPTICS.

The Techeetah Formula E team rounded out the South American leg of the ABB FIA Formula E Championship with a second win of the season for Championship leader Jean-Eric Vergne yesterday.

The team and driver now hold a commanding lead in the constructors and drivers championships respectively. Highlights of the thrilling race from Punta del Este can be seen here:

Away from the circuit, the team have been finding success with new partnerships in the form of Blockchain Crypto Currency Dragon Inc, and industry-leading eyewear manufacturer  SPINE OPTICS. As a core brand within the Mondottica group, SPINE OPTICS are revolutionising eyewear with a patented arm design.

The Techeetah Formula E Team SPINE OPTICS Partnership will see all Team Members wearing SPINE wear for the remainder of the FIA Formula E Season with SPINE branding featuring prominently within the team environment.

For more information on SPINE head to their website here.

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Formula E: Championship leaders Techeetah announce major new partnership with Dragon Inc

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Ahead of the 6th round of the  ABB FIA Formula E Championship coming from Punta del Este, Championship Leaders Techeetah have announced a major new partnership with Blockchain platform provider Dragon Inc.

The partnership will see Dragon branding feature prominently on the side pods of the four TECHEETAH race cars, garage, race wear and drivers’ helmets.

Speaking on the announcement Paul Moynan, Dragon Inc. Co-Founder commented: “Dragon Inc. is pioneering a new era of blockchain and entertainment while Formula E is leading the electric revolution across motorsports, it is only natural that both come together for a ground-breaking collaboration. Both Dragon and TECHEETAH are applying technologies that are reinventing their respective industries. We seek to support one another not only in the sharing of technology but by bringing a greater awareness of the benefits to the world stage. Being a former Royal Marine Commando, I’m taught to lead by example and set our standards high to pave the way for others to follow; the combination of Formula E and Dragon’s blockchain solutions is doing just that. This will be an amazing year for both our teams and by working together we can build something bigger than ourselves,” 

Keith Smout, Chief Commercial Officer for Techeetah added ” We are very pleased to welcome Dragon Inc. to the team. We are constantly striving to bring new and exciting partners on board and with Dragon now joining us we feel that we have accomplished this.  We look forward to helping build their brand and share our aligned technologies as we push for the Formula E Championship,

Further details on Dragon Inc can be found here

Follow Dragon Inc on social media here

Formula E: Raising the Bar in Motorsport Sponsorship

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Season Four of the FIA Formula E World Championship resumes this weekend with the third round in the calendar coming from Marrakesh. As the first major motorsport event of 2018, now is a good time to reflect on the success of the championship and explore how Formula E’s approach to partners is changing the face of motorsport sponsorship.

As motorsport goes, Formula E is a Championship still very much in its infancy. When considering the achievements of the championship, this fact is something many forget. Over three seasons Formula E has established a global audience in excess of 200M, this compared to Formula One which using the same metrics reported an audience of 350M across 2017 is hugely impressive. On average, Formula E appeals to a younger audience, with a gender split whilst still leaning towards males is far more balanced than any other form of motorsport. The city-centre, single day format has proven successful, as have affordable ticketing policies. Attendance of an ePrix is successfully positioned as a family event.

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The level of manufacturer support Formula E has achieved since its inception has exceeded all expectations. Championship management targeted 4-5 OEMs to have committed to the championship by season five. With DS, Jaguar, NIO, Mahindra, Audi, Renault (set to run as Nissan from next season) Venturi, BMW, Mercedes, and Porsche now involved, the championship finds itself in the position of having the most manufacturer-backed entries in any form of motorsport. Of course championship management acknowledge manufacturer support is cyclical, but Formula E represents a unique platform for manufacturers to showcase Electric Vehicle technology in a cost-controlled environment. The appeal of the championship goes beyond racing, Formula E gives manufacturers access to an audience demographic they would otherwise struggle to connect with. There is every reason to expect the current level of manufacturer support to be sustained.

Season Five will see the most significant change in the championship to date. In a bid to keep team costs under control, Formula E limits the development of components on a season by season basis and in some cases mandates the use of standard equipment across all teams. Through season five, two of the most significant standard elements will be upgraded, in the battery and the car itself. Whilst both elements will remain standard items, significant improvements in battery technology will remove the requirement for a mid-race car change, alongside delivering a sizable increase in performance. With the new car, Formula E promises to amaze fans with a futuristic design incorporating FIA mandated cockpit safety structures in a fully integrated design concept. The new look championship promises to leave other forms of motorsport looking old-fashioned by comparison.

Following the lead of Mumm Champagne, long time partners of Formula One including Allianz and Hugo Boss continue to transition towards Formula E. This shift is due in part to the way in which Formula E engages with its audience and has positioned itself at the forefront of the conversation around Electric Vehicles. The technology demonstrated within Formula E is perceived to be of greater relevance to the future of the automotive industry and as a consequence, has positioned itself as a sport which a broad and diverse audience can engage with. Free from shackles of history, the Formula E message evolves with it’s fans. This open and dynamic approach sits well with the marketing teams behind the championships growing list of partners and continues to attract new partners to the sport.

Formula E and its approach to fan engagement has not gone unnoticed.  2017 saw Formula One announce a partnership with premium partner Carbon Champagne. In attempts to build awareness of the F1 – Carbon Champagne partnership, CEO, Alexander Mea has acknowledged taking inspiration from the Formula E podium celebrations. Carbon have already employed ideas such as the use of a DJ to build atmosphere around the podium (as seen at the Mexican Grand Prix), to branding the cool down room and presenting drivers through the crowds to increase visibility. Formula E and its partners have inspired the established brands to up their game to maximize any return on investment.

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Engagement extends far beyond the podium ceremony, for race attending fans the eVillage supporting every ePrix provides an area for championship partners to engage with fans, delivering both tangible sales and the ability to build brand awareness. Formula E encourage championship partners and local partners to embrace the eVillage and its captive audience of fans. Beyond the eVillage is the The EMOTION Club.  Formula E’s unique take on the VIP paddock life experience. In contrast to other forms of motorsport where team and championship guests are hosted in separate motorhomes or paddock buildings, Formula E, through the EMOTION Club, have created a shared environment in which all guests and partners are together, facilitating an environment which truly lends itself to the development of new business to business partnerships and allows guests to maximize their experience from both an entertainment and commercial perspective. Formula E has always been keen to ensure all brands and partners involved with the championship have every opportunity to maximize their position in the sport. Success in this open approach is evidenced by the fact that to date, all partners joining the championship have chosen to renew and extend their commitments.

Another great asset of Formula E is its relationship with the media.  Of course the sport has it doubters and critics, but media reporting from within the championship hold Formula E in high regard. Motorsport will be criticized irrespective of any decisions taken, but Formula E seeks to balance this by engaging with the media, explaining the strategy of the championship, ensuring a feeling of inclusion and community. Many journalists have been a part of the championship from the very beginning, they feel part of the championship and their value in its continued growth does not go unnoticed by championship management.

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With the imminent announcement of title sponsorship of the entire Formula E Championship, Formula E management can be proud of what has been achieved. Formula E continues to outperform rival motorsport championships in terms of its reach and engagement. Founding partners including Qualcomm, DHL, Michelin, and Mumm Champagne continue to be rewarded for their willingness to embrace a new form of motorsport. As the championship grows, so will their return on investment.

Formula E: Julias Bär confirmed as Title Partner for the Zürich ePrix

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Julius Bär – leading Swiss private banking group and Global Partner of the FIA Formula E Championship – has today been announced as the title sponsor for the historic first running of the Julius Bär Zürich E-Prix.

The electric street racing series will be bringing circuit racing back to Switzerland for the first time in over 60 years, with the inaugural Julius Bär Zürich E-Prix set to take place on June 10.

With its headquarters in Zürich, Julius Bär has been Formula E’s global partner since the inception of the championship in 2014. Julius Bär has been instrumental in bringing Formula E to the streets of Zürich for the very first time and have acquired the naming rights for the inaugural race.

Gian A. Rossi, Head Switzerland at Julius Bär, emphasises the Bank’s pioneering spirit and its commitment to future technologies as the main reason to support Formula E and the Zürich E-Prix: “Formula E is an investment in our society’s future. The racing series serves as a test bed for innovations advancing the future of mobility and ‘smart cities’. We firmly believe that in a country whose flair for innovation is the secret of its success, the racing series will generate great interest and underscore the image of Switzerland as a hotspot for technology. The decision to pick Zürich to stage the race is the right one – after all, it is a flagship for research and innovation as home to ETH, one of the two Swiss Federal Institutes of Technology, as well as being the country’s largest city.”

Racing had previously been forbidden in Switzerland for decades, with the last event taking place at Bremgarten circuit in 1954. However, a law change in 2015 lifted restrictions on fully-electric racing and paved the way for Formula E to bring electrifying wheel-to-wheel action to the streets of Zürich.

Alejandro Agag, Founder & CEO of Formula E, said: “It’s only fitting that at such an historic moment in the championship and for motorsport in general, one of the main protagonists in bringing racing back to Switzerland for the first time in over 60 years, has put its name to the first-ever Julius Baer Zürich E-Prix. Since even before the first race in 2014, our global partner has believed in the concept of electric street racing and has been instrumental in making the championship what it is today. Formula E makes history at every race, but on June 10, Formula E becomes the first category to bring back professional circuit racing to Switzerland – none of this would have been possible without Julius Baer and the vision of electric racing.”

Sebastien Buemi, Renault e.dams driver and proud Swiss, with his country’s flag emblazoned on his helmet, has stood on the top step of the podium 12 times before in Formula E, and will be looking to not only secure the Julius Bär pole position award, but put his name in the history books as the first professional circuit racer to win at home in over six decades.

“I cannot wait to be able to race on home soil – it’s something no other professional circuit racer has said in 63 years! The atmosphere of racing on the streets, coupled with having your home crowd cheering you on is something I’ve never experienced before and this will be one of my dreams achieved – I can’t thank everyone enough who has played their part in bringing racing back to Switzerland; from the city, the fans who have supported this, Julius Bär and Formula E,” the 2015/16 champion said.

Head to the Zürich ePrix website for all the latest on the event and to order your tickets, by clicking here

Formula One: Preparing for the budget cap

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The Liberty Media vision for the future of Formula One Teams is clear. The owners expect 12 commercially viable, profitable, franchises all capable of challenging for race victories. In his role as Managing Director of Motorsports, Ross Brawn, has been mandated with the task of delivering a strategy to ensure this vision is achieved.

12 commercially viable & profitable teams, on paper, sounds fantastic. With the variable of available finances removed, the resourceful nature of F1 teams will truly be put to the test. Outwardly it seems as though there is widespread support from the teams for such a move. Afterall, what business wants to spend more money? With representatives from leading teams including Red Bull Racing emploring Liberty Media to ‘ Save F1 Teams from themselves’ the route to implementing a budget cap should, in theory, be straightforward.

However, As with any commercial decision in Formula One nothing is straightforward. The first major hurdle to overcome is the existing structure around payments and the legacy of disparity. In 2017 Joe Saward explained the complexities around the current structure in this article. The existing structure rewards success and longevity, a something which is not overly inviting to a new team, nor geared towards a midfield team ever being in a position to surprise. In an estimated payment fund of $900M per season, the top 3 teams receive approximately 60% of the revenue, leaving the remaining, currently 7, teams to compete for 40% ($360M) between them. It is estimated that the smallest operational budget in F1 today is in the region of $100M, with only $50M coming from the championship, teams have a significant shortfall to cover.

A more appropriate payment structure would be equal distribution amongst all teams, with a proportional bonus for constructors championship position, similar to that seen in the Premier league as detailed here.  Unfortunately, in order to reach this point, the largest teams, with operational budgets believed to be in excess of $400M per season must agree to a cut in support from the system under which their team structure has been developed. What business would agree to lose as much as 50% of its funding without a clear view of how it will cut costs or increase revenue through other ventures.

Convincing; Red Bull Racing, Scuderia Ferrari, and Mercedes Grand Prix to agree to this change will be one of the key tasks ahead of Ross Brawn through 2018 and 2019 if a new system is to be introduced under the new commercial vision for the sport in 2020.

The task is far from simple, the infrastructure of the top teams has been built around a mindset of a limitless budget. If a budget cap of $150m per season were to be introduced in 2020 with no consultation from the teams, it would be almost impossible for the top teams to comply. From a personnel headcount perspective alone a team such a Mercedes Grand Prix, with in excess of 1400 employees, if an average salary of $50,000 is applied, the team commit 46% of its budget to salaries before considering building a car. Without modifying the current team structure, introducing a budget cap within the next 3 seasons, unless Liberty Media expect teams to make more than 50% of their workforce redundant, is not feasible.

On a more positive note, there are indications that the top teams in question are preparing for the change. A budget cap in Formula One will not mean that the likes of operating entity such as Mercedes Grand Prix or Red Bull Racing will be limited to an expenditure of $150M per season, rather their allocation of resources to F1 will see this limit applied.

As a result, it is highly likely that diversification will be a key element to the future of F1 Teams. Over the past decade, McLaren and Williams have established an industry-leading position in the application of engineering solutions developed to improve performance in motorsport being incorporated into manufacturing processes and commercial entities.  For these teams, this third-party business will likely continue to grow. it is, however,  unlikely Ferrari or Red Bull Racing will view this as an appropriate use of resources or brand credibility.

Instead, expect the very top teams to move towards expanding their foothold in other forms of motorsport.

  • Mercedes Grand Prix has already made steps in this direction with the announcement of a commitment to Formula E team from season 6 of the championship. This alongside the development of the Mercedes Project One, which to many is a clear indication of Mercedes ambitions to return to Endurance Racing. A return which with LMP1 regulations under review and the prospect of the reinvigoration of the FIA Global Engine strategy, Mercedes are well positioned to find success.

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Credit to Sean Bull Design for the concept Mercedes Formula E livery 

  • Similarly, Red Bull Racing through their partnership with Aston Martin has acknowledged an interest in taking the Valkyrie racing, and under guidance from Ross Brawn will no doubt be seeking to bring the Toro Rosso team entirely in-house.

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  • McLaren has taken the decision to take control of their GT programme, and have already explored further engagements in championships including Indycar following the positive coverage generated through the one-off partnership with Andretti Autosport at the Indy 500 in 2017.

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  • Ferrari continually talks of a return to Endurance Racing, and could, similar to Red Bull Racing consider a strategy of an in-house B-team with which budget cap compliance could be achieved.

In conclusion, political posturing between the top teams in Formula One, Ross Brawn, and Liberty Media throughout the 2018-19 seasons will likely overshadow on-track performances. Fans of the sport should take any empty threats from top teams to walk away from the sport as just that. Empty threats. The financial implications of such a move make the option unviable. Instead, teams will double down on motorsport, getting involved with more championships, with the eventual winner being the fans.

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Formula One: Missing Sponsors

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As the clock struck midnight on December 31st 2017, many sponsorship relationships throughout the F1 Grid reached their conclusion. In the coming weeks and months, numerous new agreements will be announced at both a team and championship level as attention focuses on the season ahead. For myself as a lifelong fan of the business of Formula One, now aspiring to develop a career in this side of the sport, this period between commercial contract expiry and new contract announcements can be fascinating.

No team will encourage media to make a story out of the end of a partnership, so don’t expect any press releases confirming a departure, instead head to the partner’s section of the website of the team you follow and see if you can spot the brands or names suddenly missing from the list.

A well-publicised partnership expiration is that of the relationship between Santander and Scuderia Ferrari.  A partnership many believe will be replaced by the promotion of long-term team partners Phillip Morris introducing e-cigarettes to Formula One with the brand IQOS. If true, e-cigarettes could represent a high-value sector of sponsors for F1 moving forward, assuming advertising challenges can be overcome, and OEM’s including Mercedes and Renault are comfortable with the association.

Intriguingly, whilst Santander has been removed from the Scuderia Ferrari Website, it remains on the McLaren (no longer McLaren Honda) website. Santander, whilst no longer a brand represented on the McLaren livery have been partnered with the Woking based team since Alonso first joined the team in 2007.

Can you spot any other team websites with mysteriously missing partners? There are some out there which may surprise…

Formula E: Shaky Start to Eurosport UK Coverage of Formula E

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Season Four of the FIA Formula E World Championship got underway this weekend, with rounds 1 & 2 of the action coming from the streets of Hong Kong. The all electric championship continued to thrill fans with ambitious on-track action, and controversies both on and off the track. For Season 4, championship management has stepped up a gear in their creative approach to social media engagement and radical on-screen graphics.

As interest in the championship continues to grow, sponsors and broadcasters are increasingly keen to get in on the action. The latest high profile partner to switch from Formula One to Formula E being Hugo Boss, joining the likes of Allianz and Official Champagne Partner G.H. Mumm in switching categories to refresh their involvement in motorsport and engage with a new audience.

Another partnership announced between Seasons 3 & 4 of Formula E was an enhanced partnership with the Discovery Group, which see’s Eurosport take on increased broadcast rights across a number of European territories. In the case of the UK, Formula E will now be broadcast on Channel 5, BT Sport, & Eurosport.

Through season 3, Channel 5’s Formula E output was criticised for the show anchor and race pundit being removed from the event and the director cutting away from key moments in order to fit a channel schedule. The Channel has addressed this feedback in Season 4, with increased involvement at the races. Unfortunately for the opening rounds of the championship the channel did not have rights to broadcast races live.

Live broadcast rights in the UK for the Hong Kong ePrix weekend fell to Eurosport. Curiously in their approach to Formula E coverage, Eurosport have chosen not to use the Formula E World Feed commentary provided by Jack Nicholls, Dario Franchitti, & Bob Varsha, instead, they are working with in-house commentators for Hong Kong at least Tom Gaymor and Mike Conway.

The commentary duo of Jack Nicholls & Dario Franchitti have, over 3 seasons developed a thoroughly enjoyable and engaging dynamic, they convey a passion for the championship and critically attend the races. By contrast the Eurosport team of Tom Gaymor & Mike Conway felt removed from the action on track. Providing a dispassionate overview of the action.

Commentary missed both simple and critical elements of coverage, making fundamental errors in identifying drivers. Put simply, the joy and enthusiasm of Formula E was missing.

Eurosport’s desire to differentiate itself from other broadcasters is understandable, but Formula E’s core appeal, besides technological, is its fast pace, close racing, and unexpected results. Commentators should act as advocates for the championship. Their enthusiasm should drive fans to find more content. The Eurosport UK Team did not achieve this in Hong Kong. Quite the opposite in fact, with many fans commenting they were left cold by the coverage.

The simplest and most cost effective solution would be for the channel to use World Feed Commentators from the Marrakesh ePrix onwards. Why try and reinvent the wheel?

Formula E: Why Audi don’t need Formula One

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Following on from yesterday’s post suggesting that after their success in the World Endurance Championship, Porsche may be considering a future in Formula One, Livery designer extraordinaire & MsportXtra partner Sean Bull went on to post livery concepts around a Future for Audi in F1 again partnering with Red Bull Racing.

Whilst I’m a huge fan of the livery concept. To me, Audi’s future in motorsport sits within Formula E. Earlier this month Audi became the first German Automotive manufacturer to officially commit to the championship, taking over the Abt team license.

As an automotive manufacturer, Audi has recognised the trend towards Electric Vehicles and are embracing it. In motorsports, with Formula One, Audi would be forced into a battle of the budget in order to compete and to be seen as a success. With Formula E, they can engage with a younger audience demographic within a cost controlled environment, in a sport supported by governments and industry. They have an opportunity to lead, not follow.

As Audi works driver Lucas Di Grassi tweeted last month, drivers might miss the 1000bhp LMP1 beasts of Le Mans but the future is Electric, and Audi have embraced their future.

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F2, F3, F4: Erreà Sport join Prema

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Italian clothing Manufacturer Erreà Sport continue their rapid growth throughout Motorsport with the announcement of a new partnership with Prema for 2017 and beyond.

Joining the ranks of the Sauber F1 Team, Mahindra Formula E team, & Manor Endurance Racing, this new partnership will see Erreà Sport represented across F1, F2, F3, F4, Formula E, and the World Endurance Championship, with further partnerships in motorsport in development.

Fans of Erreà Sport in motorsport can find the online store for the Sauber F1 Team and Mahindra Formula E team though this link. Highlights of the Prema and Manor Endurance Team collection will be made available in the coming weeks.

The 2017 Prema team wear collection is a result of coming together of minds between the Prema and Erreà Sport design teams. The collection reflects the teams Italian heritage and team history, alongside ensuring functionality for the team in races around the world.

Commenting on the partnership René Rosin, Team Principal, remarked:
“We are proud to partner an excellent Italian company like Erreà for what is expected to be a particularly demanding season. Like in all professional sports, also in racing every single component can make a difference and Errea, to whom we will entrust our personnel, will definitely be a key component of the team”.

Errea Sport Chairman Angelo Gandolfi added:
“We are delighted for this new and prestigious partnership. Prema and Erreà share the same values and represent a dynamic, efficient and determined combination, looking forward to score great results in the upcoming season. We worked hard together with the team in order to provide them with all the support they need to keep pushing the limits forward.”

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To keep up to date on  Prema through the 2017 season in motorsport you can follow them on Twitter here.

Formula E: Omologato join Mahindra Racing

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Indian Formula E Team Mahindra Racing have announced a new partnership with British watch manufacturer Omologato. This new partnership will see Omologato branding feature extensively on the M3Electro, on drivers Nick Heidfeld and Felix Rosenqvist’s gloves and within the team environment with Omologato wall clocks.

Within the partnership Omologato have  designed a unique Mahindra Racing timepiece collection, which can be found here. Omologato believe “everyone should have a watch with a story” as such they have positioned their products at a price which the everyday motorsport fan can afford. Omologato and Mahindra Racing set out to engage with their fans and followers with this partnership, combining a mutual passion for motorsport with a desire to pioneer new concepts and enhance awareness of Formula E in new markets.

 

Commenting on the new partnership Dilbagh Gill, Team Principal, Mahindra Racing Formula E Team remarked, “We are delighted to welcome Omologato into the Mahindra Racing family. The Omologato brand is highly regarded in the motorsport community; we both share the same passion for delivering exciting motor racing and heritage to fans across the globe. We look forward to engaging with fans at Omologato events and having their logo on our cars from the next race in Mexico City.”

Shami Kalra, Founder of Omologato added, “We are delighted to become an Official Partner of the Mahindra Racing Formula E Team in one of the world’s most forward-thinking sports championships. We welcomed the challenge of designing these special timepieces for the team to take to iconic cities across the globe. One of our aims at Omologato is to give motorsport enthusiasts the chance to immerse themselves in motorsport, through our chronographs and our #ChronosAndCars events. This exciting partnership will give Omologato fans the opportunity to get closer to the Mahindra Racing Formula E Team.”  

To check out the Omologato Mahindra Racing collection follow this link

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