Infotainment Factory: Formula One set for historic change

Trending

>

Post Top Ad

Post Top Ad

Wednesday, 7 November 2018

Formula One set for historic change


//

Formula One’s commercial boss has issued a warning to the sport's most historic circuits, warning them there’s no guarantee they’ll be hosting a race in the future.

It comes on the back of the announcement that Vietnam will hold a grand prix from 2020, with Hanoi set to become the fourth Asian race on the calendar after Japan, Singapore and China.

The addition of Vietnam places pressure on existing races on the schedule, with teams making little secret of their wish not to expand the championship beyond the current 21 events.

The contracts for at least five races are due to expire after the 2019 season, including Silverstone in England, which hosted the very first world championship race in 1950, and Monza in Italy.

Both circuits have been vocal in calling for a reduction in the licensing fees they pay to host races, with Silverstone announcing in 2017 that it would not host Formula One beyond 2019 unless the terms of the deal are significantly improved.

But Sean Bratches, F1’s managing director of commercial operations, says there’s no guarantee the historic circuits will survie.

“We're a 68-year-old entity and the nature of grand prix racing is that it is dynamic,” Bratches said

“Silverstone was the first grand prix, but we haven't raced at Silverstone all those 68 years. The race has been held at Brands Hatch and other venues. Nothing is immutable in this sport in terms of where we race.

“We do value certain races highly and we do what we can to preserve racing there, but we are a business. We are a public company and we have a lot of stakeholders and shareholders and we're trying to marry what's best for fans with running a successful business."

With a street circuit in London long floated as the potential home of F1 in England, Bratches has confirmed it’s an option that remains very much on the cards.

“We look at it in three ways,” he said.

“Firstly, we want to preserve the heritage races, they are very important to Formula 1 and they are very important to fans. I'm talking about the Silverstones, the Spas, the Monzas of this world.

“Then we have a set of street races and hybrid street races, where we race in parks and on city streets, such as Melbourne, Montreal and Mexico City.

“The third segment features purpose-built facilities such as Shanghai, Austin, Texas and Bahrain. Beyond that we are looking to identify further street races, so this race (in Vietnam) is a further step in terms of our vision.

“One of the things we have been intensely focused on is extending grand prix racing to iconic cities, in downtown areas, where we can best engage fans.

“Most of our grands prix are currently half an hour to an hour outside cities, so the race in Hanoi fulfills of one of our preliminary goals -- an iconic city hosting racing on a potentially thrilling street circuit. Vietnam's concept of what grand prix racing should be about matches our vision for the sport.

“We're the beneficiaries of interest from cities, states, countries, municipalities from around the world and we have been taking a very cadenced approach in terms of how we go to market in terms of race promotion, choosing carefully so that potential races fit well with the existing structure we have and the direction in which we want to go in the future

“Historically Formula One has been very reactive in terms of people coming to them, but we have been more proactive, going to markets that we think are aligned with our brand values and which provide the opportunity to engage fans in new ways. A street circuit is a great way to do that. We have Monaco, Baku and Singapore and this is a great addition to that line-up.”

Formula One’s commercial boss has issued a warning to the sport's most historic circuits, warning them there’s no guarantee they’ll be hosting a race in the future.

It comes on the back of the announcement that Vietnam will hold a grand prix from 2020, with Hanoi set to become the fourth Asian race on the calendar after Japan, Singapore and China.

The addition of Vietnam places pressure on existing races on the schedule, with teams making little secret of their wish not to expand the championship beyond the current 21 events.

The contracts for at least five races are due to expire after the 2019 season, including Silverstone in England, which hosted the very first world championship race in 1950, and Monza in Italy.

Both circuits have been vocal in calling for a reduction in the licensing fees they pay to host races, with Silverstone announcing in 2017 that it would not host Formula One beyond 2019 unless the terms of the deal are significantly improved.

But Sean Bratches, F1’s managing director of commercial operations, says there’s no guarantee the historic circuits will survie.

“We're a 68-year-old entity and the nature of grand prix racing is that it is dynamic,” Bratches said

“Silverstone was the first grand prix, but we haven't raced at Silverstone all those 68 years. The race has been held at Brands Hatch and other venues. Nothing is immutable in this sport in terms of where we race.

“We do value certain races highly and we do what we can to preserve racing there, but we are a business. We are a public company and we have a lot of stakeholders and shareholders and we're trying to marry what's best for fans with running a successful business."

With a street circuit in London long floated as the potential home of F1 in England, Bratches has confirmed it’s an option that remains very much on the cards.

“We look at it in three ways,” he said.

“Firstly, we want to preserve the heritage races, they are very important to Formula 1 and they are very important to fans. I'm talking about the Silverstones, the Spas, the Monzas of this world.

“Then we have a set of street races and hybrid street races, where we race in parks and on city streets, such as Melbourne, Montreal and Mexico City.

“The third segment features purpose-built facilities such as Shanghai, Austin, Texas and Bahrain. Beyond that we are looking to identify further street races, so this race (in Vietnam) is a further step in terms of our vision.

“One of the things we have been intensely focused on is extending grand prix racing to iconic cities, in downtown areas, where we can best engage fans.

“Most of our grands prix are currently half an hour to an hour outside cities, so the race in Hanoi fulfills of one of our preliminary goals -- an iconic city hosting racing on a potentially thrilling street circuit. Vietnam's concept of what grand prix racing should be about matches our vision for the sport.

“We're the beneficiaries of interest from cities, states, countries, municipalities from around the world and we have been taking a very cadenced approach in terms of how we go to market in terms of race promotion, choosing carefully so that potential races fit well with the existing structure we have and the direction in which we want to go in the future

“Historically Formula One has been very reactive in terms of people coming to them, but we have been more proactive, going to markets that we think are aligned with our brand values and which provide the opportunity to engage fans in new ways. A street circuit is a great way to do that. We have Monaco, Baku and Singapore and this is a great addition to that line-up.”

https://ift.tt/2SPIrTU
//

No comments:

Post a Comment