Why Privateers Should be Encouraged in Sportscar Racing

Manufacturer support in motorsport often goes through boom-and-bust cycles and it is for this reason that Porsche Motorsport’s vice president Thomas Laudenbach warns that privateers should be treated well. It is all part of a very quiet Business of Motorsport this week.

Also covered in this week’s edition of BoM is how F1 navigated itself to its current wave of popularity, the future of NASCAR beyond 2024 and how motorsport sponsorship is changing.

All this plus the latest sponsorship deals and partnership developments as well as team news from around the world. It is all in this week’s edition of the Business of Motorsport Roundup on Motorsport Prospects. Your source for the best curated motorsport-business news that racers can use.

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Sportscar racing is undergoing an unprecedented boom right now with more manufacturers than ever. But as Porsche Motorsport’s vice president Thomas Laudenbach warns, retaining customer teams in Hypercar is key in the event that manufacturers decide to exit the World Endurance Championship’s top class.

“Laudenbach fears that if big manufacturers were to leave there might be too few privateers to save the day, as the likes of Alpine, Glickenhaus and Rebellion did when Toyota was the only OEM still involved in WEC’s top class following Audi and Porsche’s defection from the series in the late 2010s.”

Is It Fast looks at How Formula 1 Navigated Itself to Popularity Peak. “This is where Liberty Media came into play. The group with an appetite for change swooped in with a $4.4 billion check, took the wheel, and kicked off a marketing makeover that adopted F1 into the 21st century. The first order of business? Saying goodbye to Ecclestone’s notion that youth was penniless and social media was pointless.”

As NASCAR prepares for their 2024 season, Forbes writer Greg Engle writes that the future of the series including where the series will race, who will be racing, what manufacturers will be involved and how costs will be controlled in 2025 and beyond could be revealed this year.

“NASCAR has made no secret of the desire to add another OEM to the field. In its history over 30 manufacturers have raced in NASCAR. Since 2012 though only three have fielded efforts: Chevrolet, Ford, and Toyota. But a new one could finally be announced in 2024.”

Forbes explains how the Veloce VEXT Web3 Token Could Change The Future Of Racing.

“Now, apply that to our real-world racing team,” continues Bailey. “We can provide decentralized decision making to our fan base. Fan engagement is the future of sport. We started by offering VEXT token holders different liveries for our Extreme E car and the livery that they’ve chosen is fantastic. It’s a great showcase of what we’re planning on doing with VEXT. This is a multi-year project. We can’t change the world of sport entertainment in day one. We see ourselves as a modern rights holder in racing. Our assets sit across Esports gaming, purpose-driven sport and now decentralization of sport, media, and content through Web3. Going forward, the plan is to continually give VEXT token holders more decentralized decision making on the future of our business and the racing team. That not only means liveries, but what legacy projects they want us to support that are closest to their environmental concerns.”

Quick Takes on the Business of Motorsport This Week

Motorsport Sponsorship & Partnership News

Here are the latest motorsport sponsorship deals, partnerships and related analysis that were announced this week.

Why Privateers Should be Encouraged in Sportscar Racing

Team & Manufacturer News

Here is a roundup of the latest team news from around the world of motorsport.

Why Privateers Should be Encouraged in Sportscar Racing
Business of Motorsport
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.