Business of Motorsport News for January 14, 2022

Business of Motorsport News for January 14, 2022
FIA vice-president Lee Lung Nien

It has often been said that motorsport is as much a business as it is a sport. While my “Business of Being a Race Driver” deals with those business aspects that a driver must deal with in their off-track time, the “Business of Motorsport” deals more with the industry as a whole be that track owners, series administrators, manufacturers or the multitude of motorsport professionals who make motorsport their business. As a driver, it is always important to understand the industry you are so intimately involved in. This weekly round-up should bring you some of the highlights.

As always, if you have news that you feel should be included in this weekly round-up, do not hesitate to contact me.

The Administration of Motorsport

  • With the FIA election over and Mohammed Ben Sulayem of the United Arab Emirates becoming the first non-European president of the FIA, it is time for him to begin implementing his platform. Aside from the Formula 1 issue he has to deal with as mentioned below, Sulayem has made the growth of motorsport a key plank in his platform. New FIA vice-president, Singapore’s Lee Lung Nien, hopes to see more Asian drivers as the FIA considers opening a regional office in Singapore as part of the plan.

The Business of Sponsorship

  • The Williams Formula 1 team received some more positive news as they slowly crawl themselves out of the F1 cellar when they announced that they have won their $35m lawsuit against former title sponsor ROKiT. Williams urged the court to enforce the award against ROKiT which it won from a London Court of International Arbitration tribunal in 2021.The award was made up of roughly £26.2m in missed payments, as well as a $1m in bonus payment.

Formula 1

  • After a decisive end to a riveting season, the FIA has outlined their Abu Dhabi analysis timeline with results expected only 2 days before the 2022 season begins. It will be interested to see if anybody is satisfied with what they decide and what impact, if any will it have on the growth trajectory the sport is currently enjoying.
  • Finally, as the FIA has always insisted that manufacturers benefit from participating in F1 because it translates to their road-going cars, Daimler AG, the parent company of Mercedes-Benz, used experts from its Formula 1 racing team to produce an electric prototype to compete with Tesla.

Formula E

Business of Motorsport News for January 14, 2022
  • Formula E has been weathering a bit of a storm with the body blows they suffered from BMW, Audi and Mercedes leaving the series and Porsche’s commitment seemingly short-term as they prepare to enter (or not?) Formula 1. But the year started with good news as Maserati announced their return to single-seater motorsports with Formula E.
  • Along with the news that Maserati will be joining Formula E, Front Office Sports also reports that the series numbers are getting better though not at all spectacular. “Despite canceling nine of its 14 scheduled races during the 2019-20 season, Formula E lost just $43,700 before taxes in its sixth season, down from a loss of $12 million the year before.”


  • Amongst a number of positives for 2022 regarding car counts and fan popularity, IndyCar announced a $1m PeopleReady Force for Good Challenge. “The PeopleReady Force for Good Challenge will help drive home PeopleReady’s mission to connect people and work as a force for good in the communities they serve while highlighting the skill of NTT IndyCar Series teams and drivers and our collective commitment to helping others,” Penske Entertainment Corp. President and CEO Mark Miles said. “This program will keep fans engaged all season and continue to raise vital awareness for a variety of worthy charities.”


  • The value of a NASCAR Cup Series team charter has reached $12 million, doubling last year’s asking price of $6 million, according to Sports Business Journal.

Manufacturer News

Business of Motorsport News for January 14, 2022
Scuderia Cameron Glickenhaus SCG 007

Industry News

  • All the Race Industry Week presentations are now available as videos you can watch at any time here. You can also access all the talks as podcasts.

See you next week!

Mark Boudreau
Author: Mark Boudreau

Mark is the publisher of Motorsport Prospects. As a former lawyer, he applies his legal background and research skills to assist race drivers by showcasing the resources they need to make their motorsport careers happen.