Eight Driver Scholarship Loans are now available for eligible drivers looking to take part in the 2017 CAMS Jayco Australian Formula 4 Championship.
At $38,500 each, the scholarship loans will cover the total cost of the car lease and insurance – reducing the overall season cost for a competitor to approximately $126,000.
“The scholarship loans are part of CAMS’ ongoing strategy to develop the next generation of Australian racers,” CAMS CEO Eugene Arocca said.
“With the CAMS Group in a strong financial position, we are able to ensure that Australian Formula 4 remains one of the world’s most affordable Formula 4 championships.”
Scholarship Loans were distributed this season with enormous success, with current recipients eligible to reapply again in 2017.
“We will assist the teams where needed in the selection process of potential new drivers that they have scouted, and support those who wish to extend their tenure with Formula 4 in 2017,” CAMS General Manager of Motor Sport Michael Smith said.
“The teams – AGI Sport, Team BRM, DREAM Motorsport and JRD – have been instrumental to Formula 4’s success in developing drivers in a professional and nurturing environment. We’re excited to see bright Australian talent racing with us in 2017.”
Numerous drivers from the 2015 season graduated to categories across Europe and the United States, and a number of drivers currently competing in the 2016 season have had interest from Australian teams across Supercars, Dunlop Series and Australian GT Trophy Series.
“A number of drivers from our 2015 and 2016 seasons have garnered interest from reputable teams and categories, both here in Australia and overseas,” Arocca said.
“It is a compliment to the teams and support staff of Australian Formula 4 who provide the level of support and mentorship that our young drivers receive.
“Our investment via the Driver Development Scholarship Loans demonstrate how seriously CAMS takes the responsibility of driver development in Australia. The benefits of our investment filters throughout the sport, particularly when we engage with Government for funding for other projects.”
Graduate drivers include 2015 Champion and USF2000 race winner Jordan Lloyd, British F3 and BRDC Rising Star Thomas Randle, British F4 race winner Zane Goddard and Red Bull Junior Team driver Luis Leeds who finished 3rd overall in British F4.
The Scholarship Loans are subject to conditions of it being repaid over an appropriate timeframe, and for participants to take part in other driver development initiatives such as the CAMS Driver Academy.
This is in addition to four $50,000 scholarship loans recently made available by the CAMS Foundation Rising Star program, with scholarships made available for two rookie and two championship contending racing drivers.
Applications for the CAMS Foundation Rising Star close on Friday October 28, 2016. More information about the CAMS Foundation Rising Star can be found here.
“The CAMS Driver Academy is an important component of our overall driver development strategy,” Smith said.
“Outside of racing, the CAMS Academy arms drivers with skills related to nutrition, fitness, media and marketing. We’re very proud of our development initiatives, which are all about giving young Australian drivers the best training to achieve their career goals.”
The 2017 CAMS Jayco Australian Formula 4 Championship will be formally launched in the coming weeks, with a calendar and championship structure to be confirmed.
Applications from interested parties must be made no later than Friday 18 November, 2016 and must be emailed to [email protected]