PHM Racing has rebranded to PHM AIX Racing after Dubai investors bought into the team and signed a new partnership.The German-based team – which races in Formula 4, Formula Regional, Formula 3 and Formula 2 – announced the new partnership with AIX Investment Group on Wednesday.

By Steven Walton

The announcement comes just days before the team races in the opening rounds of the 2024 Formula Regional Middle East (FRMEC) and F4 UAE championships. Both start this weekend in Abu Dhabi.

Paul Müller, who founded PHM Racing in 2021, said the AIX Investment Group was not only giving support with funding but with world-class advisors. “Their love for the sport combined with the new partnership will allow us to accelerate our journey to victory,” he said.

Müller said he wanted PHM AIX Racing to become the best open-wheel feeder racing team, “winning races and championships from F4 all the way to F2.”

A new venture for AIX in motorsport

AIX Investment Group, which has offices in Dubai and Qatar, is described on its website as “a top-tiered award-winning international financial institution with over a decade of cumulative experience in the investment advisory industry”.

On their website, AIX Investment Group said PHM Racing’s reach across several FIA Formula series fostered “a comprehensive ecosystem for budding motorsport stars.” While announcing the partnership, AIX Investment Group also confirmed they have hired former Benetton and McLaren F1 driver Alex Wurz as a “strategic advisor”.

This is not the first time AIX Investment Group has been involved with PHM Racing. Last year, the group sponsored PHM Racing driver Brad Benavides. The 22-year-old American drove for the team at nine rounds in the 2023 Formula 2 season, with AIX Investment Group logos displayed prominently on his car. 

Benavides was replaced at PHM Racing by Joshua Mason in July.

PHM AIX Racing’s pedigree

PHM AIX Racing was founded in late 2021 and in its debut season – 2022 – it competed in F4 UAE, ADAC F4, and Italian F4. In 2023, the team entered FRMEC and also took over the F2 and F3 entries of Charouz.

In 2024, Paraguayan driver Joshua Dürksen will represent PHM AIX Racing in Formula 2. His teammate has not yet been announced. None of the team’s F3 drivers have been announced.

Meanwhile, PHM AIX Racing has four cars entered in FRMEC and F4 UAE – championships which both commence this weekend at Yas Marina in Abu Dhabi.

PHM AIX Racing’s FRMEC lineup consists of Taylor Barnard, Brando Badoer, Tasanapol Inthraphuvasak, and Liu Ruiqi. Their F4 UAE drivers are Everett Stack, Nikita Bedrin, Maksimilian Popov, and Kamal Mrad.

Header Photo Credit: PHM AIX Racing

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