McLaren Racing CEO Zak Brown does "not see the need to be too worried” about the impact FTX's bankruptcy will have on F1, according to Jonathan Noble of MOTORSPORT. Brown said that the crypto market “will see its strongest participants survive.” Noble noted eight teams “have sponsorships with crypto firms,” along with F1 having a "major deal with exchange Crypto.com.” FTX was a sponsor of the Mercedes team which “prompted the German car manufacturer to suspend the deal" and "remove the company’s logos from its car and assets.” Brown said that he has “no fears about the strength of exchange OKX, which joined forces with McLaren earlier this year." Brown: “We're very comfortable with OKX, and we did a tremendous amount of due diligence.” He also said that "doubts about the long-term viability of crypto sponsors are no different from scepticism about other industries that have been involved in F1." Brown: “I think every time there's been a shift in the sport, there's, ‘oh my, what's going to happen when the tobacco money leaves the sport? What happens when this manufacturer leaves the sport? But the sport is so strong that it seems always to be someone there to step in. So it would be unfortunate if there's a lot of impact, but I think the sport is just fine” (MOTORSPORT, 11/27).
Zak Brown says he's not worried about other crypto sponsorships after the FTX bankruptcy and its impact on F1Getty Images
