Liberty starts second season with bumpy road ahead
LONDON: L iber ty Media enjoyed plenty of goodwill after taking over Formula One and ousting former supremo Bernie Ecclestone but the honeymoon is over as the Americans start a second season in charge.
There has been much talk of putting fans first, with more engagement at the racetrack and through social media, and developing a digital strategy to tap new revenue streams and woo fresh audiences.
The big questions have yet to be answered, however.
The spor t has elemental decisions to make on what it wants to be, and what rules to play by once current contracts expire at the end of 2020, and storm clouds are gathering.
“Liberty had a positive first year, they did a lot of good things around the sport,” Red Bull team boss Christian Horner told reporters during pre- season testing in Barcelona.
“But a lot of that is windowdressing, it’s not dealing with the fundamentals of the product.
“The next 12 months are going to be crucial for the (governing) FIA and for Liberty, where they’ve got to get on the same page and then present what they want to do and what they see Formula One as from 2021.”
In fairness, Liberty’s hands are bound by existing agreements with teams and FIA that cover the distribution of revenues, how the sport is run and what kind of engines are used.
But Formula One must now decide how best to balance technology and entertainment, and how level a playing field it really wants.
Ferrari – the oldest, most glamorous and successful team who get more money than anyone else – have already threatened to walk away if they do not like the direction the sport is taking.
Fierce rivals on the track, they and champions Mercedes are closely aligned off it on fi nancial matters and engines – supplying six of the 10 teams.
“The two of them had the dominant position, revenue and engines and I think the two of them will try to protect that fiercely,” says McLaren executive director Zak Brown.
“In the first half of the year we need to have 2021 locked down, because the big teams such as ourselves are going to need to adapt to these potential new rules and that takes time.” — Reuters