FIA CEO has said that he is prepared to pull his organisation out of the United Kingdom “within 24 hours” if the country does not reach a customs union deal with the European Union after Brexit.


During a wide ranging discussion on BBC’s Question Time on Thursday evening, Agag revealed Formula E’s contingency plan for a quick exit from the UK should the current Conservative government fail to negotiate a viable customs union deal.



“It’s crazy not to have a full customs union,” said Agag. “I started a company five years ago in the UK. I employ probably 120 people direct and maybe 1000 [people] indirect. 


“We have made a plan to leave the UK in 24 hours. I would offer jobs to all my British employees of course in our new location in Europe, and we will go.


“I am waiting for the deal. If there is no deal, we will go.”


Agag did not elaborate on where the Hammersmith, London office and its Donington Park headquarters, which handle day to day operations and logistics for the Formula E World Championship, will be relocated to.


Formula E currently has offices located in the Netherlands, an EU member state, and in Hong Kong S.A.R. 


Agag stressed the vital importance of the customs union, which allows UK tariff-free access to the EU, in order to keep Formula E operations in the UK. 


“I would love to stay! I love the UK. This country allowed me to create my company, and it’s a fantastic country. This is where my kids live. We would love to stay here. 


“We just want to see if we are going to be allowed to stay or not – and it’s a lot of jobs.” 


Image: Formula E