Formula E boss pays $250,000 to charity after Max Verstappen bet

Formula E CEO Jeff Dodds has donated $250,000 to charity following a “tongue-in-cheek” bet about F1 world champion Max Verstappen.

Dodds promised in February to give the sum to charity if Verstappen failed to win the title for the fourth year in a row, adding the Red Bull driver was “absolutely nailed on to win” this season.

The Formula E boss turned out to be correct, with the 27-year-old Dutchman sealing his fourth world championship in Las Vegas with two races remaining.

In theory, Doggs would not have had to honour his bet, but he has decided to pay the money regardless.

The $250,000 donation will be equally split between Red Bull’s Wings for Life foundation for spinal cord research and More than Equal - a new fund aimed at providing greater opportunities for women in motorsport.

“What started as a very tongue-in-cheek ‘bet’ at the start of the season has evolved into a serious commitment to support gender equity within our championship, with the ultimate goal of seeing women competing full-time in Formula E,” Dodds explained.

“As a first step, the research we have commissioned in partnership with More Than Equal will help us better understand the barriers to entry that women currently face, and how specifically Formula E and our teams can provide greater parity, opportunities and inclusion at the top level of our championship.”

Speaking on a call with Dodds, Verstappen said: “the charity closest to me is Wings For Life and I’m sure they’ll be very grateful; and to support any kind of motorsport and young talent is amazing, so I think it’s a great shout from you.”

The four-time world champion added he will be “watching the championship during my time off!”

Dr. Fran Longstaff, head of research at More than Equal, said: “Formula E has demonstrated a strong commitment to developing and providing opportunities for female drivers, and we’re thrilled to partner with them on this important research initiative.

"This project will use our expertise to identify the key factors that contribute to success in this unique and rapidly evolving series, which demands a distinctive blend of skills and experience. By working closely with drivers, team managers, engineers, and other experts, we aim to translate these insights into actionable recommendations for driver development."