This week’s Business of Motorsport News looks at the increasingly probably chance of a an F1 race in Las Vegas, MotoGP looks to Formula 1 for inspiration on a number of fronts, building a race track in the L.A. Coliseum and more.
Formula 1
- Liberty has made no secret of wanting to expand F1 into “destination cities” and Las Vegas has always been on that list. So it comes as no surprise that Formula 1’s return to Las Vegas is ‘as good as done.’ Vegas is really pushing its expansion into sports with F1 only the latest property to sign up. Huddle Up looks at the numbers.
- In addition to a potential Vegas race, Liberty has also signed a long-term Formula One deal with Singapore. The city state believes that the race could play a big part in creating investment opportunities.
- If you are wondering what kind of entry fees F1 teams pay to compete, their seven-figure 2022 entry fees have been revealed. Entry fees for the coming season are based off the championship results from last year, with Mercedes and Red Bull topping the list.
- Ferrari will have no issue paying these fees as they have reported a strong finish to FY2021. The Italian car brand posted $1.3 billion in revenue in Q4 2021 and they are selling more cars, engines, sponsorships and merchandise than ever.
- Wondering who the most powerful people are in Formula 1? Racing News 365 lists the 25 most influential people in the series.
- Following in the footsteps of F1 teams McLaren and Williams, Sauber has formed a new company to take their F1 expertise to the wider industry outside of motorsport.
- Finally, like them or loathe them, Marlboro has been a very visible and powerful influence in Formula 1 for decades. Motorsport Magazine looks at their influence through the years as they look to be winding down their F1 involvement.
MotoGP
- Casting an envious eye at Formula 1, MotoGP teams need to fundamentally change how they attract sponsors if the championship is to grow. How? They need to look at Formula 1’s success in drawing in partners from outside its traditional bases according to RNF Yamaha team boss Razlan Razali.
- With some recent controversial contract moves related to MotoGP riders causing concern, The Race argues that the motorcycle series needs to copy how F1 handles contract rows by instituting their own Contract Recognition Board.
- Directly related to both points above, Autosport Plus looks at the salary hit MotoGP riders face in 2022.
Nascar
- Wondering how NASCAR built their track inside the Los Angeles Coliseum for this weekend’s exhibition race? The LA Times explains all.
Sports Cars
- If you are going to name your sports car after a legendary, but defunct British sports car manufacturer, make sure you properly own the rights to the name.
Motorsport Industry News
- Motorsport engineering specialist Titan, an engineering company that started life as a racing team, has completed a management buyout. The company, based in St Neots, UK, has moved further into mainstream automotive engineering over the last decade and is now a supplier of components to high performance vehicle manufacturers, while also developing and supplying complex steering technologies for advanced vehicles.
- Finally, Track Enterprises has purchased the Champion Racing Association (CRA).
That’s it for this week’s Business of Motorsport News. Don’t forget to kick of your Saturday morning with the latest Sustainable Motorsport Round-Up. Stay safe!
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.
