Menu
Leagues and Governing Bodies

F1's 11 Teams Feel Each Should Receive More Money From F1 Owner CVC

A "few months ago," F1 McLaren Team Principal Martin Whitmarsh "again requested a cost reduction," according to Raymond Blancafort of MUNDO DEPORTIVO. Whitmarsh said, "Nine of the 11 teams are having financial difficulties." Whitmarsh "lamented the unstable atmosphere that has been created." The "truth is that Lotus, Sauber, Marussia and Williams are have serious financial problems." It is "clear that the crisis will not be resolved by spending restraints alone." The teams feel "most exploited by how global commercial rights have increased in spectacular fashion." Since '07, TV rights have "increased 202%." In '12, F1 Owner CVC Capital distributed €545M among the teams. It was "an astronomical figure, but less than the budgets of Red Bull and Ferrari." The "concern of F1 teams is evident" because CVC has distributed at least €639M ($879M) in the last two years and has "been able to earn" more than €1.4B ($1.9B) "if the sale of shares to other investors is taken into account." It is said that the "new 'Concorde' commercial agreement that the teams are on the verge of signing would increase the percentage that the teams receive." The figures, however, "will continue to be insufficient for all the teams" (MUNDO DEPORTIVO, 11/3). In Madrid, Miguel Sanz reported the '14 "revolution will have a price." Toro Rosso Team Principal Franz Tost said that his team's "car costs, compared to this year," will rise by €25M ($34.4M) (MARCA, 11/3).

SBJ Morning Buzzcast: May 6, 2024

Takeaways from a big sports weekend including The Kentucky Derby and F1's Miami Grand Prix; Caitlin Clark's WNBA preseason debut; a new RSN set to form in Chicago.

Learfield's Cory Moss, MASN/ESPN's Ben McDonald, and Canelo

On this week’s pod, SBJ’s Austin Karp has two Big Get interviews. The first is with Learfield's Cory Moss as he talks about his company’s collaboration on EA Sports College Football. Later in the show, we hear from MASN/ESPN baseball analyst Ben McDonald on how he sees the college and professional baseball scene shaking out. SBJ’s Adam Stern shares his thoughts on the upcoming Canelo-Mungia bout on Prime Video and DAZN.

SBJ I Factor: Molly Mazzolini

SBJ I Factor features an interview with Molly Mazzolini. Elevate's Senior Operating Advisor – Design + Strategic Alliances chats with SBJ’s Ross Nethery about the power of taking chances. Mazzolini is a member of the SBJ Game Changers Class of 2016. She shares stories of her career including co-founding sports design consultancy Infinite Scale career journey and how a chance encounter while working at a stationery store launched her career in the sports industry. 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/2013/11/04/Leagues-and-Governing-Bodies/F1-Demands.aspx

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

https://www.sportsbusinessjournal.com/Global/Issues/2013/11/04/Leagues-and-Governing-Bodies/F1-Demands.aspx

CLOSE