Powerboat P1, the international marine motorsport promoter, has announced changes to its executive management team that see Thomas Covington heading up P1 Offshore. This new role will involve him taking charge of all P1 powerboat racing in the United States.
Speaking from the company’s headquarters in London, Powerboat P1 Chairman Asif Rangoonwala explained that his aim is to strengthen the P1 USA operation now that P1 Chief Executive Azam Rangoonwala is based in the company’s new office in Dubai. The senior management team includes Martin Raby, International Operations Director, and Michelle Petro as P1 USA Director of Operations, both of whom continue in their current roles.
Following his motocross racing career, Florida-based Covington joined P1 in October 2020 to focus on delivering the company’s existing commercial agreements and securing new sponsors and partners. Most notably, he negotiated a significant sponsorship deal with Monster Energy, with the drinks brand becoming title sponsor of the St. Petersburg Powerboat Racing Grand Prix, the Class 1 world championship and the Super Cat M CON Racing Team. After taking up the position of Commercial Director in January this year, Covington’s role developed to also include the televising of P1’s powerboat and jet ski racing events, marketing, hospitality, fan experience and social media. Prior to this season’s race program, he secured a live television agreement with MAVTV featuring the high-profile Class 1 race series.
Covington said he was excited to be taking up his new role as the company finalizes its 2025 business plan: “Powerboat P1 has been at the forefront of international marine motorsport for more than two decades, staging more than 750 races in 19 countries on 4 continents, and it will continue to push the boundaries of what’s possible in this dynamic sport. Partnerships have always been at the heart of our business and enhancing our key relationships with venues and racers will be a priority for me. Working with the P1 board and management team, I will drive innovation and commit to ensuring that our business growth aligns with the company’s passion for excellence and championing the sport we all love.”
Azam Rangoonwala took up his CEO role in 2018 under the chairmanship of his father, Asif who founded the company in 2002, and he has been responsible for developing and establishing the P1 Offshore brand and Class 1 championship as leaders in offshore racing in the United States.
“Our new presence here in the Middle East will enable us to identify and explore new opportunities within the UAE and neighboring countries such as Saudi Arabia and Qatar,” he explained. “Having embarked on our third decade as a leading promoter, Dubai will become a key regional hub for expansion and, at the same time, I will be actively supporting Thomas in our primary market in the US.”
Asif Rangoonwala commented: “Thomas has made a significant and sustained contribution to our P1 business over the past 4 years. His considerable experience in being involved with world class motor racing series, together with accomplishments in key sectors such as operational management, television, sponsorship and partnership development, make him ideally placed to lead our management team into a new era for the P1 Offshore and P1 AquaX brands. This appointment comes at a time of change for both the world of marine motorsport and our own company, and together we will focus on the core business, Florida race events and business development opportunities to realise P1 USA’s commercial and sporting potential.” One of Covington’s principal jobs next month will be to finalize and announce the 2025 race calendars for P1’s powerboat and jet ski race series.
