Electronic Arts Signs Multi-Year F1 License

EA announced today that they have signed a multi-year license to make F1 simulations. And yes, they state they’ll be on PC…

Here is their full press release:

ELECTRONIC ARTS SIGNS FORMULA ONE LICENSE
No. 1 Game Company Takes Pole Position In Global Motorsports Market

REDWOOD CITY, Calif., February 22, 1999-Electronic Arts™ (Nasdaq:ERTS), the world’s largest interactive entertainment software company, today announced that it has secured the rights to one of the world’s most coveted international motorsports licenses – Formula One. The company plans to develop games based on the exciting Formula One cars and races for leading console platforms and the PC. Financial terms of the deal were not released.

The multi-year license gives Electronic Arts (EA) worldwide interactive rights to the FIA Formula One Drivers’ and Constructors’ World Championships including drivers, teams, cars and tracks on the Formula One circuit. Formula One joins EA SPORTS™’ stable of best-selling titles including John Madden Football™, NASCAR® 99, FIFA and World Cup Soccer, Tiger Woods PGA TOUR®, NHL® Hockey and NBA Live ™.

An estimated audience of over five billion fans watching races either in person or on television last year makes Formula One the world’s largest spectator sport. With 16 races visiting five continents over an eight-month period each year, it is unique as a truly global sport.

“Formula One is one of the world’s most prestigious sports licenses. Teaming the No. 1 EA SPORTS brand with the leading global racing franchise is a dream come true for Formula One racing fans,” said John Riccitiello, EA’s president and COO. “We believe that our world-class creative organization can successfully translate the passion that fans feel for Formula One into best-selling products for both video game consoles and PCs.”

“For European race fans, Formula One has no equal in the sporting world,” said Tom Stone, EA’s European vice president of business development. “Millions of avid fans jam tracks to see multi-million dollar cars and fearless drivers race for the finish line. EA’s Formula One games will let motorsports fans worldwide become drivers and owners, negotiating the curves as well as the contracts. The Formula One license, coupled with our best-selling NASCAR titles, has put us in the position to bring the best racing experiences in the world to the leading interactive formats.”

Electronic Arts, headquartered in Redwood City, California, is the world’s leading interactive entertainment software company. Founded in 1982, Electronic Arts posted revenues of more than $1.1 billion for calendar 1998. The company develops, publishes and distributes software worldwide for personal computers and advanced entertainment systems such as the PlayStation® and the Nintendo® 64. Electronic Arts markets its products under seven brand names: Electronic Arts, EA SPORTS, Maxis™, ORIGIN™, Bullfrog™ Productions, Westwood Studios™ and Jane’s® Combat Simulations. EA has international subsidiaries or distribution in more than 75 countries worldwide. The company has eleven major development operations located throughout the world based in San Mateo, Irvine and Walnut Creek, Calif.; Baltimore, Maryland; Austin, Texas; Maitland, Florida; Seattle, Washington; Las Vegas, Nevada; Vancouver, British Columbia; the United Kingdom and Japan. More information about EA’s products and full text of press releases can be found on the Internet at http://www.ea.com.