A majority of F1's GP promoters issued a statement "expressing concern about how the sport is being run" by owner Liberty Media, according to Alan Baldwin of REUTERS. The Formula One Promoters' Association on Monday said that representatives of 16 grands prix events had "met in London to discuss the situation ahead of the 21-race season starting in Australia in March." FOPA: "It is not in the long-term interest of the sport that fans lose free access to content and broadcasting. ... There is a lack of clarity on new initiatives in F1 and a lack of engagement with promoters on their implementation." The statement went on to say new races "should not be introduced to the detriment of existing events." FOPA said that members wanted a "more collaborative approach" as well as the opportunity to "offer their experience and expertise in a spirit of partnership with Formula One and the (governing body)" (REUTERS, 1/28).
COULD LIBERTY WALK AWAY?: JOHNWALLSTREET.com cited sources as saying that Liberty is "exploring scenarios" that would decrease its stake in the int'l racing circuit, less than three years after it acquired F1. The company is reportedly weighing "everything from an exit to the introduction of new equity partners." One name to "keep an eye on" is former F1 CEO Bernie Ecclestone, who has the "capital, know-how and can likely reclaim the asset back for a fraction" of the $8B he sold it for (JOHNWALLSTREET.com, 1/27).
BREAKING THE SILENCE: AUTOSPORT's Jonathan Noble reported there is "uncertainty about the fate of five races," with the British, Italian, Spanish, German and Mexican GP contracts expiring this year. Prominent among the worries are concerns F1's move to more pay-TV will "slash the number of viewers," and therefore those interested in buying tickets, "plus questions about why some events were being offered better financial terms." The statement about alternative business models is "understood to reference efforts to pull off a Miami street race." During the discussions, it emerged that the U.S.-race promoters were "offered a profit share partnership," rather than the "more traditional model" where races pay tens of millions of dollars for the right to hold the event. The Miami situation is understood to have been a "key factor in encouraging the events that do not have deals beyond this year to stand firm and demand better financial terms." Silverstone Managing Dir Stuart Pringle said, "Everyone is disgruntled. Liberty's ideas are disjointed. We have all been compliant and quiet hitherto, but we have great concerns about the future health of the sport under the people who run it now" (AUTOSPORT, 1/29). In London, Jonathan McEvoy reported one promoter said that F1 CEO Chase Carey and Managing Dir, Commercial Operations Sean Bratches are like "the blind leading the partially sighted" (DAILY MAIL, 1/28).
