presents you to the personalities driving billions of bucks in bargains off the F1 circuit, in the initial of episode of this period of ‘Inside Track: The Business of Formula 1.’
In the high-octane globe of Formula One, success is driven by greater than simply gifted chauffeurs and designers.
F1’s dealmakers have actually agented billions of bucks in income off the circuit, producing money from numerous areas, consisting of media legal rights, ticket sales, retailing and sponsorship.
“Racing today is not enough. Our main source of success is because we are able to connect with our fans, understanding that we are a worldwide business,” stated Stefano Domenicali, Formula One Group CHIEF EXECUTIVE OFFICER, in a meeting with’s Inside Track: The Business of Formula 1.
In reality, it was a significant bargain– Liberty Media’s purchase of F1 in 2017– that pushed the sporting activity ahead. Since after that, F1 has actually increased right into the United States, presented a price cap that made groups extra investable and widened viewership to a more youthful target market.
“We are not competing to any other sport. We are competing to different interests,” Domenicali stated.
“The young generation, they are comparing sport with movies, with other things that are relevant for them. So that’s where we need to be focused. That’s where we need to be strong, and that’s maybe the reason why we are so successful,” he included.
Watch the video clip over for an extensive take a look at the globe of dealmaking in F1, including meetings with Formula One Group CHIEF EXECUTIVE OFFICER Stefano Domenicali, McLaren Racing CHIEF EXECUTIVE OFFICER Zak Brown, Williams Racing Team Principal James Vowles, Scuderia Ferrari HP Team Principal Fr éd Vasseur and extra.
