The Business of Motorsport News for January 21, 2022 – Andretti Goes Public and More

It has been a busy week in the Business of Motorsport as there have been numerous developments related to sponsorships, changes of administration, increased cryptocurrency action, SPACs going public and more. Here are just a few of the things that happened since the last Business of Motorsport round-up.

Formula 1 News

The Business of Motorsport News for January 21, 2022
Photo courtesy of Scuderia AlfaTauri
  • If you have followed Formula 1 for any length of time it is astonishing to see how its popularity has increased as a result of Drive to Survive and its increased presence on various social media platforms, something that would never have happened in the Bernie era. Well Ellie Norman, Formula 1’s marketing boss is stepping down stating: “I have completed what I set out to do at F1, and it’s time for my next challenge.” No news yet on her replacement.
  • It has been announced that Heineken is replacing Rolex as the Australian Grand Prix title sponsor. Rolex had been the title sponsor of the Australian Grand Prix since 2013.
  • McLaren Racing’s Zak Brown has certainly not been shy in stating his thoughts on the current state of Formula 1 and its governance as he has argued that some teams are ‘holding F1 hostage’ and that B teams are still a problem. It is refreshing to hear him state out loud what I am sure many are thinking.
  • Finally, continuing with the cryptocurrency/NFT wave, Scuderia AlphaTauri has increased their partnership with Fantom. They describe Fantom as “one of the fastest and most eco-friendly smart contract platforms in the world.”

Supercars News

The Business of Motorsport News for January 21, 2022
New Supercars CEO Shane Howard
  • Supercars chairman Barclay Nettlefold describes the the reaction to Howard’s appointment as CEO as ‘overwhelming’ while the leading teams in the championship are praising the move as well.

Formula E

The Business of Motorsport News for January 21, 2022 - Andretti Goes Public and More
  • As Formula E gets ready for the launch of the last season running their Gen2 car, they have announced that Matt Scammell, commercial director at Liverpool, is set to join the championship as its new chief commercial officer.
  • Formula E has also announced India as a potential venue for the 2022-23 season. The first race is expected to be held between December 2022 and March 2023 at a 2.3km circuit overlooking the Hussain Sagar Lake in Hyderabad, one of the largest cities in the country.
  • Finally, with all the recent positive developments in Formula E, The Race discusses the possible driver “brain drain” the series may suffer with the growth of LMDh/LMDH teams in sports car racing and the possible conflicts of interest that may have leading drivers choosing sports cars over the electric series.

Miscellaneous Motorsport Business News

The Business of Motorsport News for January 21, 2022
(L-R) Marco Andretti, Bill Sandbrook, Mario Andretti, Michael Andretti. Michael and Sandbrook are co-CEOs of Andretti Acquisition Corp. Andretti Acquisition Corp.
  • Honda has united their car and motorcycle racing programs under the Honda Racing Corporation (HRC) banner. “In order to fulfill the expectations of motorsports fans and Honda fans and customers all around the world, we will continue devoting our energy to motorsports, through the ‘new’ HRC that integrates our motorcycle and automobile racing activities,” Honda director, president and CEO Toshihiro Mibe says.
The Business of Motorsport News for January 21, 2022
Photo courtesy of Toyota Gazoo Racing North America
  • Toyota Gazoo Racing has expanded its footprint to the NHRA. For TGRNA NHRA drivers competing in the Funny Car class, they will debut the new GR Supra body while those drivers competing in the Top Fuel category will also carry Toyota Gazoo Racing North America colors for all 22 NHRA national events.
  • Steve Bortolotti of Pfaff Motorsports describes the team’s new challenge as they move to IMSA GTD PRO with their iconic plaid livery.

That is it for this week’s Business of Motorsport news round-up. See you next Friday for more Business of Motorsport news. Please make sure you take some time out of your busy Saturday tomorrow from following the Roar Before the 24, 6 Hours of Abu Dhabi, Formula 4 UAE and the Formula Regional Asian Championship (to mention just a few series!) to catch up with the latest Sustainable Motorsport news in the weekly Sustainable Motorsport Round-Up that is published every Saturday. Thanks for reading and stay safe!

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.