Chase Carey: The Formula 1 Calendar Will Continue To ExpandNovember 18, 2018
The current season of Formula 1 consists of twenty-one stages – a repetition of the 2016 record. Many drivers and team leaders are against further increasing the number of Grand Prix, but at a meeting with investors, the executive director of Formula 1 Chase Carey said that in the coming years there will be more races.
Chase Carey: “We believe in significant growth potential in the coming years in the field of championship promotion. Three factors will contribute to this growth. First, we expect the calendar to expand beyond the current twenty-one races. The expansion will be modest, but we are delighted with the number, quality and variety of new places interested in conducting the stages.
We are on the way to the right balance between the quality of races and payments for their conduct. Each race should be interesting to the fans and attractive from a business point of view. Last week we announced the holding of the Grand Prix in Vietnam – this is a vivid example of a stage on a magnificent track, located in a place that will amaze the imagination of the whole world.
Secondly, we expect to replace some of the current races, which have inherited economically unattractive agreements, with new stages, or new contracts will be concluded that better reflect the interests of sport and more expedient in commercial terms.
Thirdly, we see very good prospects in our program of providing high-level guest services. Today, major sporting events are increasingly focused on those customers who can and want to pay in order to get a unique individual experience – this applies to both the corporate and retail segments.
It is believed that the situation with the promotion of our business is better than in other areas of Formula 1, which also generate revenue. The basis of this perception is the lack of investment or fresh approaches to the Grand Prix, which is characteristic of our predecessors. As a result, the championship stages became obsolete, and this prompted promoters to focus on costs, not on growth.
We need to focus on increasing the value of the Grand Prix and convey our vision to those who take the race. It is encouraging that the organizers of the races, both current and potential, perceive our approach. ”