Formula 1 is opening an office in N.Y., the series confirmed to SBD Global, marking its first permanent bureau established in the U.S. under new owner Liberty Media. Formula One Management has been trying to build out its U.S. roots and sponsorship base after taking over from former CEO Bernie Ecclestone, who kept the stable of sponsors limited at around half a dozen official partners. Sources said that the series is now looking into opening a previously unreported office in N.Y. as part of those efforts, which also included signing CAA Sports as its exclusive agency of record in April. F1 Dir of Communications Norman Howell confirmed the intentions to open up the new office, writing in an e-mail, "Yes, we are opening a small commercial office in New York which will be dealing mainly with the sponsorship side of things." The precise location in N.Y. and how many execs would be based there are unclear. F1 also declared intentions earlier this year to move into a new HQ in London. Sources said that the categories F1 is chasing include financial services, fuel, insurance, spirits, gaming, telecom, rental car and sports apparel. Official F1 sponsorships typically cost mid-eight figures annually for global rights. Current official sponsors of F1 include DHL, Pirelli, Heineken, Emirates, Rolex and Carbon champagne.
