Menu
Leagues and Governing Bodies

F1's Global Expansion Slowed Due To Financial Problems

F1's expansion into the global market has brought with it "some bumps in the road," according to Thomas Mersch of HANDELSBLATT. In the last 10 years, F1 has entered markets such as China, UAE's Abu Dhabi and India and will soon host races in New Jersey and Sochi. However, the racing series' expansion "encounters financial problems," as seen in South Korea, and "other problems that slow down its expansion." Sports marketing company Sport+Markt motorsports expert Friedhelm Lange said, "The future of F1 is not free from worry. In some important markets it encounters decreasing interest or flat-lining interest on a low level." F1 CEO Bernie Ecclestone is highlighting his strategic skills with F1's global expansion, "which attracts business to motorsports." Lange said, "F1 is for car manufacturers and sponsors a good tool to tap in to new markets. They don't have to think in each new country about what sports to join." The teams also back the series' global course. Mercedes Motorsports Dir Norbert Haug said, "Mercedes-Benz sells 83% of its premium vehicles in countries that host F1 races." The new Concord Agreement between Ecclestone, teams and motorsports governing body FIA is supposed to be adapted at the end of the month. The agreement regulates the distribution of F1's revenue until '20. It is uncertain if the new markets will have positively developed until then (HANDELSBLATT, 10/12).

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2012/10/15/Leagues-and-Governing-Bodies/F1-Expansion.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2012/10/15/Leagues-and-Governing-Bodies/F1-Expansion.aspx

CLOSE