Business Day

New Formula One owners to push hard for growth

More teams, sponsors and circuits targeted

- Alan Baldwin

More teams, more sponsors and more circuits are all on the longterm wish-list for Formula One’s new owners, who say fans will see changes already this season as part of an aggressive strategy for growth.

Commercial MD Sean Bratches says every area of the business is being looked at.

“There will be a point in the season where we start to effectuate change,” he said during the first preseason test in Barcelona.

“It’s not going to be … where we just drop our vision one day and that’s the vision. It’s going to be a build and we are going to be very aggressive. We are going to try new things, all in the spirit of better serving the fans.”

The first sign of change came on Monday when teams were told they and their drivers could post snippets of video on social media channels from inside the paddock confines.

Bratches, a former ESPN executive who reports to Formula One chairman Chase Carey, said the sport was “replete with opportunit­ies to improve at almost every turn”.

The sport changed hands in January, when Liberty Media replaced 86-year-old former commercial supremo Bernie Ecclestone with Carey.

Ecclestone was unconvince­d by social media after growing the sport into a billion-dollar business through television deals and hosting fees from countries in increasing­ly exotic locations. The Briton also saw no need for a spokesman or media department, something the new owners are putting in place along with a well-staffed marketing operation.

“We are going to pivot from what has been a very deal-oriented structure to one where we are formulatin­g a strategic plan that we are going to execute on relentless­ly over the mid- to long-term,” said Bratches.

“We’d love to see more teams, we’d love to see more sponsors and we’d love to see more circuits in the right places.

“Places that we believe are growth-oriented and can improve not only from a fan standpoint but improve the overall economics, drive television revenues, drive sponsor engagement and interest, create opportunit­ies for teams and drivers.”

Struggling Manor folded in January, leaving just 10 teams. Bratches said the aim was to put all on a more secure footing.

“In the Premier League or National Football League or Bundesliga, if a team goes up for sale, there’s 30 individual­s or entities that want to buy it. When Manor goes out, that’s not the case today,” he said.

“So, we have to make this a better business on the promoter side, on the team side. The rising tide will float all boats.”

Bratches said he had been “pleasantly surprised” by strong interest in hosting races from cities, states and countries that do not have one and there would “unequivoca­lly” be new races in the US and elsewhere.

Carey has talked about treating each race like a SuperBowl weekend, with events building to the main event.

Bratches said: “We have 20 extraordin­ary events every year that happen in 20 different countries. There’s a huge opportunit­y to amplify the event and really detonate the possibilit­ies.”

Liberty have talked about adding more races in North America, where the Texan capital Austin hosts the only US round of the championsh­ip. Bratches did not give details but Las Vegas is a target.

SO WE HAVE TO MAKE THIS A BETTER BUSINESS ON THE PROMOTER AND TEAM SIDE. THE RISING TIDE WILL FLOAT BOATS

 ??  ?? Changes on track: Lewis Hamilton puts his Mercedes-Benz through its paces at the Barcelona-Catalunya track on Tuesday. The Briton is expected to be one of the pace-setters during the 2017 Formula One season.
Changes on track: Lewis Hamilton puts his Mercedes-Benz through its paces at the Barcelona-Catalunya track on Tuesday. The Briton is expected to be one of the pace-setters during the 2017 Formula One season.

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