Formula 1 is "teaming up" with marketing agency Lagardère Sports to build strategic partnerships in China from '18 and "raise the sport's profile in a region it sees as having huge potential for growth," according to Alan Baldwin of REUTERS. F1 owner Liberty Media sees China, along with the U.S., as "ripe for expansion" and there has been talk of adding a second grand prix in the country to the "long-standing" one in Shanghai. Lagardère is "already a player" in Chinese and Asian football. The two parties said in a joint statement on Wednesday that Lagardère would "identify and secure strategic partners for Formula One in areas including event promotion, media rights, digital and brand partnerships, merchandising, talent development and racing team development." F1 Managing Dir, Commercial Operations Sean Bratches said that fans in the region had "already showed they were among the most passionate." Lagardère Sports & Entertainment CEO Andrew Georgiou said that the company could help F1 "tap that potential by developing premium local content." China has yet to produce an F1 driver but there has been "speculation that a possible Chinese team could be positioning itself for an entry" (REUTERS, 7/4).
