Formula 1 has been rocked by yet more high profile departures and in this week’s Business of Motorsport Roundup you will find out who and why. I also have news on Penske Entertainment purchasing the Long Beach Grand Prix, what’s to come in 2025 for NASCAR and the latest motorsport legal news. All this plus sponsorship deals and partnership news plus more!
Motorsport Industry News
Formula 1
Greg Maffei will leave his role at the end of the year after not signing a new contract and John Malone is to assume position in the interim it was announced this week. Needless to say, a lot of questions are being raised as to the future of F1 under Liberty Media. Are they preparing for a sale? Does this give Andretti Global a chance of now being accepted onto the grid? Is this as a result of the tensions from the Department of Justice investigation into monopolistic practices?
“Liberty Media chairman John Malone to CNBC on if he’d entertain offers to sell Formula 1: “I used to say the door is always open. But I believe Formula 1 has a very bright future as is. And the management team has done a brilliant job. It has a very powerful brand now that can be expanded on. And there are many opportunities to expand in the racing business synergistically. So I think — I think I’m certainly going to watch it for a few years before any decision that it would be better off combined with something else.” Outgoing Liberty CEO Greg Maffei added to CNBC: “Look, I don’t think there’s any plan to sell it. It’s got a great future, but, you know, I suspect the Board of Liberty will be appropriate stewards of the shareholder capital.”
Nobody really knows what is going to happen but here are some great articles that look to answer some of these questions.
- Maffei to step down as CEO of F1 owner Liberty Media (Autosport)
- Liberty Media to spin off assets; CEO Greg Maffei to step down at year-end (CNBC)
- Andretti F1’s Biggest Opponent Is Now Out of the Picture (The Drive)
- Head of F1 owner to leave role at key time for sport (BBC)
- Why Liberty Media Spun Off Assets, Shook Up Leadership (Front Office Sports)
- Liberty braced to deny fresh F1 takeover speculation following Maffei departure (Autosport)
Another key departure that has bred speculation has been that of F1 Race Director Niels Wittich. With yet another high profile departure from the FIA, questions are being raised in what appears to be a shock firing that no one was expecting with just three races left in the season. Here is some analysis and speculation on what this all means.
- The questions the FIA must address after Wittich’s surprise F1 departure (Autosport)
- Niels Wittich ‘sack’ claim now made after sudden FIA exit – report (Planet F1)
- Ben Hunt: Wittich departure raises more concern with the FIA (Autosport)
Last week I mentioned who the argument between F1 drivers and the FIA over swearing has turned as the drivers are demanding transparency on where their fines are going. Could this be a major issue for the FIA president?
“While it was the content of the GPDA letter that drew the attention, it should be the fact that drivers are united in their condemnation of his actions which is the most serious aspect for Ben Sulayem.”
As for where the penalty money goes, Anirban Aly Mandal of The Sports Rush breaks it down here. “The matter of fines is discussed in Article 12 of the International Sporting Code (ISC). According to the ISC, Stewards have the discretion of imposing fines that cannot exceed 1 million euros for the FIA F1 World Championship. The article further goes on to highlight that these fines shall be paid directly to the FIA.”
Formula One saw a slight revenue drop in Q3 based on an earnings report from its parent company, Liberty Media. Primary F1 revenue dropped to $861 million from $887 million last year due to fewer media-rights and sponsorship fees, though this was more circumstantial as there were seven races this past quarter versus eight in the same quarter last year. There are 24 total races this year, the most ever for an F1 season, compared to 22 last season. Get more details at Front Office Sports here.
The Monaco Grand Prix will remain on the Formula 1 calendar until 2031, the series has announced which is a good thing for them as the big-money battle to host an F1 race is heating up.
CNBC reports that four circuits are vying for contract extensions, Thailand and South Korea have both submitted bids, while India, Rwanda, and numerous other countries are reported to be developing the infrastructure to secure a slot on the F1 calendar.
Read more in The big-money battle to host an F1 race is heating up.
With the sophomore edition of the Las Vegas Grand Prix coming up next week, we are seeing more analysis on the impact that the race is having on sin city. While there are some grumblings, the race is proving to be a commercial success.
- F1’s success ‘eye-opening’ for Las Vegas (RACER)
- Las Vegas Is Prepping for Another F1 Grand Prix. Are You Ready? (Bloomberg)
- The Vegas Effect (Business of Speed)
Formula 1’s 75th anniversary season will begin in unprecedented and unfamiliar surroundings as all 10 teams launch their 2025 liveries alongside one another at London’s O2 Arena on 18 February.
- All F1 teams to unveil liveries at London O2 event ahead of 2025 season (Autosport)
- What Jaws, The Oscars, and the NFL Can Teach Us About F1’s 75th Season Launch (Business of Speed)
- How 2025 launch plan shows F1 is learning from American sports (RACER)
General Motorsport Industry News
Penske Entertainment has purchased the Long Beach Grand Prix. By acquiring the Acura Grand Prix of Long Beach, Penske owns both the largest single day paid sporting event in the World with the Indianapolis 500, and the biggest street race in North America at Long Beach. Read more about the transaction at Forbes.
With the end of the 2024 NASCAR season, details have emerged of what is to come in 2025 and beyond which could mean more international races and off-track politics and legal skirmishes.
- NBC Sports details 2025 Cup Series coverage plan, latest audience data (RACER)
- NASCAR 2024 season review: Off-track politics threaten to derail positive momentum (BlackBook Motorsport)
- NASCAR State of the Sport: Leaders Talk Canada, EVs, TV Ratings and More (Autoweek)
Outgoing president Greg Maffei confirmed Liberty Media filed with the European Commission on Thursday morning to gain regulatory approval for the takeover of MotoGP. “Just on MotoGP for a moment we did file this morning with the EC for regulatory approval and we expect to be on track to receive that by year-end,” he said.
Autosport has more details.
Quick Takes on the Business of Motorsport This Week
- F1 Arcade set to open third U.S. venue in Denver next year (RACER)
- Bowman Gray Stadium preparing for facility improvements ahead of Clash (RACER)
- Mark Boudreau of Motorsport Prospects Featured On 2 Guys, A Girl, and F1 Podcast (Motorsport Prospects)
- Lola Cars becomes a major stakeholder in Paceteq (PMW)
- Race Moto.Ca Acquires Super Series (Super Series)
- Royal Academy of Engineering awards eight new Masters in Motorsport scholarships to graduates of Black and mixed Black ethnic backgrounds (RAE)
- FIA launches Expression of Interest for World Rallycross Championship promotion (FIA)
- Local racers call for return of Formula Regional to Asia (Macau Business)
- Formula 1 Racer Nico Hülkenberg on Flying Privately (Business Jet Traveler)
- How top engine builder NBE is navigating through changing times (Autosport)
- Adapt or die: How Supercars and TCR can help each other (Torque Cafe)
- Five things we learned from new Mercedes F1 book (The Race)
- NASCAR hires outgoing Stewart-Haas exec Jess Smith to oversee branded content (Sports Business Journal)
- Why F1’s new ‘Learning Sectors’ programme marks an important first for the sport (Formula 1)
- Saudi’s megacity Neom in disarray after CEO leaves (Morning Brew)
Highlights from the Sustainable Motorsport Roundup
Formula E is looking to perfect its Pit Boost technology for Season 11 and in this week’s Sustainable Motorsport Roundup you will find out where they are at with it. I also have news on Lola’s future, the magic molecule of hydrogen and the increasing accessibility of EV racing. All this and more sustainable high performance motorsport news.
The Numbers
Impact on the Average Valuation of Alpine’s Posts During the Brazilian Grand Prix (Blinkfire Analytics)
Motorsport Law Roundup
A look at some of the legal and regulatory issues and analysis in Motorsport this week
Michael Jordan’s NASCAR team 23XI Racing lost its bid for an injunction last Friday that would have allowed it and Front Row Motorsports to keep racing next season while they pursue antitrust claims against the stock car league, with a federal judge finding the two teams failed to show “present, immediate, urgent irreparable harm.”
Pending the result of an appeal, 23XI and FRM could be on the verge of losing charters that they spent millions of dollars to acquire, at which point their only recourse would be monetary damages at the end of a victory in trial, or a negotiated settlement with NASCAR.
The teams on Wednesday appealed the North Carolina federal judge’s denial of their request to keep racing next season, taking part of their antitrust fight against the stock car league to the Fourth Circuit.
Trackhouse Racing lost its appeal of the penalties issued earlier last week by NASCAR for being involved in what was deemed to be race manipulation at Martinsville Speedway.
The three-person National Motorsports Appeals Panel was Kelly Housby, Lyn St. James, and Steve York. A statement issued by the panel explained, “We feel in the best interest of racing and to protect the integrity of the sport, it was appropriate to uphold and affirm NASCAR’s decision with regard to the NASCAR rule 4.4, attempting to manipulate the outcome of the race.”
RACER has more details.
The results of both Eurocup-3 races at Barcelona last weekend are being appealed, with a potentially premature crowning followed by off-track drama that has put a lot back on the line, and into limbo. Formula Scout has all the convoluted details on the appeals and counter-appeals that are currently in play at the time of me writing this.
Motorsport Sponsorship & Partnership News
Here are the latest motorsport sponsorship deals, partnerships and related analysis that were announced this week
- Formula 1 welcomes KitKat as its Official Chocolate Bar partner (Formula 1)
- Formula E replaces MDD company with British based Vantage Event Medicine company (FE Notebook)
- GT4 Australia seals multi-year naming rights deal with Monochrome (SpeedCafe)
- Amerasian Fragrance has paired up with Absolute Racing under the Amerasian Fragrance by Absolute Racing banner (RTD Media)
- Scuderia Ferrari HP celebrates together with Paramount the release of Gladiator II (Ferrari)
- Aston Martin Aramco Launches Ultimate Simulator Using Motion Technology To Recreate F1 Racing (Memento Exclusives)
- Sergio Perez set to retain Red Bull F1 seat amid sponsor boost – report (Motorsport Week)
- FedEx To End Nascar Sponsorship With Joe Gibbs Racing, Denny Hamlin (Forbes)
- Aston Martin Aramco announces high-performance partnership with PUMA (Aston Martin F1)
- SJM Partners with Theodore Racing to Compete in 71st Macau Grand Prix (Theodore Racing)
- Nissan Formula E Team teams up with Petromin to boost electric mobility (Yahoo Finance)
- Williams hails new partnership with robotaxi firm Zoox (Autosport)
- Texas A&M Spent $160K on Aggies Branding for Two NASCAR Cars (Sportico)
- Bell Racing Helmets and Richard Orlinski join forces (Bell Helmets)
- Global luxury sales to fall 2% in 2024, among weakest years on record, Bain says (Reuters)
- Scuderia Ferrari HP announces a multi-year partnership with Chivas Regal as Official Team Partner (Ferrari)
- Explore the world of BWT Alpine Formula One Team through Minecraft Education (Alpine)
- Grosjean scrambling find partners in order to stay on IndyCar grid in 2025 (RACER)
Team & Manufacturer News
Here is a roundup of the latest team news from around the world of motorsport
- Otmar Szafnauer’s Shocking Alpine F1 Team Firing Exposed (SI)
- 8 billion to 1: How Oracle’s cloud technology allows Red Bull to simulate success (Autosport)
- Qatar poised for buy-in of Audi’s F1 team (Autosport)
- RML at 40: The rise of a motorsport giant (Autosport Plus)
- Dale Coyne Racing seeking investment (RACER)
- Tickford Racing on the market (SpeedCafe)
- Monlau Motorsport could bring Cupra to FIA TCR World Tour in 2025 (Touring Car Times)
- Lola planning next steps in its racing revival (RACER)
- Why Audi’s likely to (part) sell its F1 team before it even races (The Race)
- Erebus targeting more rival chassis deals (SpeedCafe)
- TGM Grand Prix Super Formula future under threat (Autosport)
- Steller Switches to Corvette; Targets ELMS, GTWC Europe (Sportscar365)
- Hyundai’s 2025 WRC car will feature “reasonable change” as testing ramps up (Autosport)
- BWT Alpine Formula One Team and Mercedes-Benz sign Power Unit and Gearbox Agreements (Alpine)
- What Renault’s questionable engine strategy means for its F1 team (The Race)
- Van der Steur Racing gearing up for IMSA GTD move (RACER)
- Fallows to step down as Aston Martin F1’s technical director (Autosport)
- Fallows exit first sign of Aston Martin’s impending F1 shake-up (The Race)
- A.J. Foyt Racing parts ways with technical director Cannon (RACER)
- TCR Champs Taylor, Miller Step Up to GS Class in JDC Porsche (Sportscar365)
- Preparations continue ahead of PREMA’s IndyCar debut (RACER)
- Australian team GWR Australia enters 24 Hours of Dubai (SpeedCafe)
- Rodin Motorsport considering Hypercar program (RACER)
- Xcel Motorsport expands into GB3 Championship with two-car line-up (GB3)
- TDS Racing To Defend Michelin Endurance Cup With Unchanged Line-Up (Daily Sportscar)
- BimmerWorld Set for Continued Two-Car Effort in 2025 (Sportscar365)
- Is BMW slashing its motorsport budget next year? (Autosport)
- RAC Awards Diamond Jubilee Trophy To Prodrive (Daily Sportscar)
Motorsport Movers & Shakers
Episode 304 of the High Performance podcast features Mercedes F1 Team Principal Toto Wolff. “In this episode, Toto opens up about his close bond with Lewis Hamilton, from the early days of their partnership to pivotal moments that have tested their relationship, including Hamilton’s departure from Mercedes and the challenges that followed. He also reflects on the intense 2021 season, discussing how Hamilton coped with the pressures and how it shaped Mercedes’ strategy moving forward.”
Beyond F1, Toto dives into his own journey, revealing how a challenging upbringing and his father’s illness fostered his resilience and emotional intelligence. He speaks openly about the role of therapy and the importance of empathy in his leadership style, which he’s continually refined to create a culture that values every individual’s best at Mercedes.
You can watch the podcast in the video above.
Formula E’s Founder and Chairman Alejandro Agag has been nominated as one of TIME100’s Climate Leaders in Business.
Alejandro is founder of some of some of the most sustainable sports on the planet, with Formula E a pioneer in world-class sport in its sustainability leadership – not least its unique status as the first and only sport to be certified Net Zero from inception.
Alongside Formula E, the Spaniard completed the all-electric triad with E1 Series and its bespoke water-borne hydrofoils and Extreme E – the ‘Electric Odyssey’ of an off-road race series – as leaders in motorsport, pushing the envelope for sustainability leadership, equity and inclusion.
More details can be found on the Formula E website.
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.
